Developments in ESOP Litigation

On March 28, the Department of Labor sued Wilmington Trust N.A., alleging that it relied on a flawed valuation in a $46 million ESOP transaction involving Stargate Apparel Inc. and Rivstar Apparel Inc.

Beyster Institute Welcomes New Executive Director

The Beyster Institute at the Rady School of Management at the University of California, San Diego, announced that its new executive director would be Kim Blaugher. Blaugher has more than 30 years of experience as a CPA and consultant in the ESOP field. Rady School Dean Robert S.

The NCEO's 2018 Annual Report

In 2018, the NCEO hosted a record-setting conference, expanded its outreach, and hired some new people.

Berkeley Encourages Worker Cooperatives

In February 26, the City Council of Berkeley, California, voted to support the development of worker cooperatives. The ordinance gives cooperatives a preference in securing city contracts, expands the small-business loan fund to cover cooperatives, and provides technical assistance.

Newark Mayor Makes Employee Ownership Economic Centerpiece

In his state of the city address on March 12, Newark mayor Ras Baraka made employee ownership a centerpiece of his economic policy. Baraka said, "We are encouraging employee ownership, and residential- and worker-owned cooperatives.

Second Party in South Africa Vows to Promote Employee Ownership

South Africa's main opposition party, the Democratic Alliance, has stated in its party manifesto that if elected it will promote a "ground-up" policy to promote broad employee share ownership. The ruling ANC has already stated that employee ownership will be a key agenda item for it.