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The Employee Ownership Update

Loren Rodgers

May 1, 2018

(Loren Rodgers)

Upstate New York Sees Rollout of Pro-Employee Ownership Legislation

Sen. Kirsten Gillibrand (D-NY) toured employee-owned companies in New York on April 30 to promote the Main Street Employee Ownership Act (S. 2786), which she introduced to the Senate last week. The bill, which has three Republican and three Democratic cosponsors, would increase the amount of both outreach and loan support the Small Business Administration would provide to employee-owned companies.

The senator's promotion was covered extensively by local television stations, including Time Warner Cable News in Binghamton and in Syracuse, WRGB (the Albany CBS affiliate), Spectrum News in Albany, WTEN (the ABC affiliate in Albany), and WTVH (the CBS affiliate in Syracuse).

The senator also discussed employee ownership in a series of tweets, including "Employee ownership is good for businesses, workers, and our local economy. Employee Stock Ownership Plans (ESOPs) and co-ops help workers share in the success of their companies, and they reduce the risk of businesses leaving communities." (See https://twitter.com/SenGillibrand.)

Danone Announces New Employee Ownership Plan

As part of the public launch of its 2030 goals, the 100,000-person company Danone announced its "one person, one share" program, under which "each of our employees will be granted one Danone share, in combination with an annual, amplified dividend-based incentive scheme." The company also said that it would expand its French employee stock purchase plan to cover its global workforce.

Employee Ownership Conference in Canada

The ESOP Association Canada will host its annual conference on June 4 to 6 in Edmonton, Alberta. The program covers tax issues, the basics of Canadian-style employee share ownership plans, governance, case studies, communications, and an overview of international employee ownership, featuring the NCEO's Ramona Rodriguez-Brooks.

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