Corey Rosen
In a new report, Why Aren’t There More ESOPs: Assessing Barriers to ESOP Creation, Jared Bernstein, one of the three people Joe Biden named to the Council of Economic Advisers, urges the new administration to “set up a government office, housed perhaps in the Small Business Administration (SBA) or the Commerce Department, that provides direct assistance to small businesses that want to set up ESOPs or other shared ownership plans.”
Corey Rosen
President Biden’s nominees to key cabinet posts have favored employee ownership in the past. In 2019, the proposed new SBA administrator, Isabel Guzman, told the California Dream (a collaboration led by local PBS stations), that employee ownership was a good way to respond to the “silver tsunami.” "As these businesses in the silver tsunami start to retire, and look for options, we need to get this information [about employee ownership] out there," she said. NCEO staff later met with Guzman to discuss ways she could use her position as head of the California Office of the Small Business Advocate to promote the idea, and she affirmed her strong support.
Jordan Boone
Happy New Year! We hope that you and yours enjoyed safe celebrations. With all of the renewed energy in the air, we thought it was the perfect time to announce our 2021 webinar series: Employee Ownership Compass.
Timothy Garbinsky
As my colleague Jaymie Oviedo wrote earlier this week, this year we're celebrating the NCEO's 40th birthday! All year long we'll be releasing new and special materials to mark the occasion. This month we'll preview the new 2021 Annual Conference tracks by providing a free lookback at some of the highlights from last year's virtual conference.
Corey Rosen
The recent COVID-19 relief bill attached to the Consolidated Appropriations Act allows certain retirement plan sponsors who laid off or furloughed employees due to the pandemic to avoid a partial plan termination.
Ivette Torres
The NCEO is hosting a members-only game night! We will play ESOP Jeopardy. Come test your knowledge and win prizes. The best part is that you can attend from home, and even from a socially distanced office boardroom. Grab your WFH team member or even your entire ESOP company, and come play Jeopardy. We hope to see you there!
Jaymie Oviedo
January is here! After a year where professional development was not an option but a necessity, we find ourselves in a unique scenario where we can continue leveraging existing technologies to deliver the education and content you need. Together with our members, we made some phenomenal strides in 2020. In 2021, we aim to be intentional in the development of how we serve and connect with our members.
Loren Rodgers
On December 29, the New York Times ran a 2,000-word report on the Mondragon Cooperatives as part of its series on capitalism during the pandemic. For those unfamiliar with Mondragon, the Times covers the basics: it is a network of 96 enterprises primarily in the Basque region of Spain. Its member enterprises are in industries from manufacturing to engineering to retail, and together they have annual revenues of $14.5 billion and employ 70,000 people. Those workers own the company and govern it on a one-person-one-vote basis.
Loren Rodgers
The election for the NCEO’s board of directors opens today. Members in good standing of the NCEO will receive an email late tonight with a link to a confidential electronic ballot. Directors will be selected through this election and by appointment by the existing board. New directors will serve a three-year term from April 1, 2021, through March 31, 2024. Balloting will end on January 22.
