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Hands down, Colorado has become the most employee ownership-friendly state in the country.

Board members, trustees, and inside fiduciaries all need good insurance coverage to defend claims brought by ESOP participants or government agencies (most likely the US Department of Labor, Internal Revenue Service, or Department of Justice).

At our recent Fall Forum, Jamie Kwiatek of Polsinelli and Antony Brunsvold of Blue Ride ESOP Services discussed some of the most common errors in ESOP plan administration and how to avoid them.

Most ESOP companies will not tell employees who do not otherwise need to know that a sale is being considered.

At the recent NCEO virtual conference, Tom DeSimone of Prairie Capital discussed how companies need to communicate valuation to employees. This is especially important now when valuations may decline.

● LifeCare Ambulance of Elyria, Ohio, has sold to an ESOP.

Publix, the largest employee-owned company in the US with more than 240,000 associates, has ranked No. 6 on the Forbes America’s Best Large Employers list.

M Culinary Concepts, a catering firm based in Phoenix, AZ, has changed its entire ownership structure by becoming 100% employee-owned via an ESOP.

100% ESOP-owned The Resorts Companies, Inc. has promoted Steve Krohn to president and chief operating officer, as well as Matthias Smith to executive vice president.

As a 100% employee-owned company, Van Meter Inc., a wholesale industrial and electrical supplier based in Cedar Rapids, Iowa, has demonstrated a lasting commitment to giving its employees ownership and improving its community through volunteer efforts.