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Boeing Co. is scrapping most pay raises next year and giving out stock-based compensation instead as the company braces for a long recovery from the coronavirus pandemic.

● Venn Strategies, a Washington, DC–based government and public affairs firm, is now 25% ESOP-owned. Founder and former sole owner Stephanie Silverman has long had employee ownership as a goal for the firm.

● Once again, employee-owned companies have gone above and beyond to show us the reason for the season.

Employee ownership has officially entered the rideshare space.

● Springfield, Ohio, manufacturer Valco Industries celebrated the one-year anniversary of its sale to an ESOP recently at a local brewery.

Coca Cola Beverages South Africa (CCBSA) announced that it will be increasing the ownership share of both employees and black empowerment investors to a 20% stake.

● Maine-based Italian restaurant chain Sam’s Italian Foods has been acquired by Teamshares, a company in New York created with the

Meridian, Idaho’s Commercial Tire has converted from family- to employee-owned via an ESOP.

● San Diego brewery and coffee company Modern Times is likely to be sold and liquidated in the coming months.

Florida’s Publix has been much in the news lately.