The Employee Ownership Update
November 16, 2015
Aspen Institute Issues Report on Wealth Inequality and Employee OwnershipIn The Racial Wealth Gap (PDF), author Joyce Klein argues that business ownership may be a key to reversing the increasing race-based wealth gap. Citing papers from the Federal Reserve Bank of St. Louis that draw on the Survey of Consumer Finance, Klein notes that "one reason for the gap in wealth levels among African Americans and Latinos was that they held dramatically lower levels of business and financial assets." She specifically refers to worker cooperatives as a path to shrink the gap.
New Craft Brewer; Different Approach to OwnershipSome of the news most in the public eye about employee ownership is coming from ESOP-owned breweries, but now a craft brewer, Evans Brewing Company of Irvine, Calif., has announced an employee stock option plan. "The approval of the 2015 Stock Option Plan is an important step in Evans Brewing Company's commitment to making employees part owners of the company" said President Mike Rapport.
ESOP Leader Wins Lindner AwardThe former CEO and chair emeritus of Messer Construction, Pete Strange, is the winner of an award for Cincinnati-area business leaders. Strange led Messer from 200 employees to 800, and wrote extensively about what he learned about employee ownership, especially in the 2013 book Steerageway.
Author biography and other columns in this series