Corey Rosen
Patricia Hetter Kelso, a leading voice in the promotion of employee ownership and universal capitalism, died yesterday at 98. She was the intellectual and business partner, wife, and coauthor of numerous books on expanding capitalism with her husband, Louis Kelso. Louis Kelso developed the idea of the employee stock ownership plan (ESOP) in 1956. Patricia met Louis in 1963, and they married in 1980.
Timothy Garbinsky
Dr. Joseph Blasi, one of the driving forces of academic interest and research on employee ownership, has stepped down from his role as the director of the Institute for the Study of Employee Ownership and Profit Sharing at Rutgers University. He will continue his work as both a researcher and mentor at the university's School of Management and Labor Relations.
Matthew Licina
On June 11, 2025, Oregon Governor Tina Kotek signed House Bill 3646 (HB 3646) into law, marking a key development for the employee ownership movement in the state. This legislation, which we discussed previously in a previous blog post, aims to provide a substantial boost to employee-owned businesses in securing public contracts.
Matthew Licina
Employee ownership trusts (EOTs) offer a powerful and flexible model for business succession. Yet, despite growing support programs and clear benefits, only about 60 EOTs currently operate in the US. This unique employee ownership structure requires practical knowledge and clear strategies to implement successfully.
Kimberly McCourtney
Leadership isn’t defined by title; it starts with how we show up every day. That’s the spirit behind the NCEO’s newest member benefit: the Rising Leaders Peer Network. Created for emerging leaders at all levels within our community, this network is designed to develop the next generation of employee ownership champions through practical tools, peer support, and ongoing growth opportunities.
Michelle Cronin
The San Diego gathering of OWN Health captive members offered a window into how employee-owned companies are reimagining healthcare benefits through collective action. With 13 member companies present, the meeting revealed the advantages that emerge when ESOP companies approach healthcare challenges collaboratively rather than in isolation. Unlike the typical insurance conference where vendors pitch solutions to passive buyers, this meeting emphasized the impact of employee ownership culture on ESOP company healthcare decisions and outcomes.
Corey Rosen
A new Massachusetts bill, "An Act promoting entrepreneurship through employee ownership," appearing in identical versions in the Massachusetts House and Senate as H. 503 and S. 305, respectively, would encourage small business owners to transition their firms to worker cooperatives. Companies must have at least three employees and meet the definition of a small business under Small Business Administration (SBA) standards. The sale must be to a worker cooperative or to an LLC or partnership that otherwise meets the requirements for worker cooperatives, including equal voting power for all employees who are designated as owners under the company’s bylaws. Profits must be distributed based on “patronage," defined as hours worked for the company.
Corey Rosen
Daniel Aronowitz, the nominee to head the Employee Benefit Security Administration (EBSA) in the Department of Labor (DOL), promised to “end the war on ESOPs.”
At Aronowitz’s June 5, 2025, confirmation hearing (the segment with Aronowitz starts at 35:30 in the video), Alaska Republican Senator Lisa Murkowski (who once worked for an ESOP company) noted that Aronowitz was “probably very familiar with the angst that has been expressed by some that ESOPs have been operating under a patchwork of litigation and there has been a need for a single clear regulatory definition of good-faith effort of valuation of ESOP stock.”
Matthew Licina
Boulder Startup Week 2025 provided a platform for exploring innovative business strategies, and I was pleased to actively contribute to the conversation by participating in two engaging panels.
