In these challenging times, it can be difficult and, at times, even scary for many managers or leaders to communicate economic realities to those they serve and supervise.
The most effective employee ownership companies are the ones that generate and use the most good ideas from the most people about the most different things that can make the company better.
Under ERISA, the ESOP trust is the legal owner of the shares in an ESOP. The trustee votes these shares, usually at its discretion but occasionally at the direction of plan participants. That includes voting for the board.
Huawei Technologies is the largest telecommunications equipment manufacturer in the world and the second-largest manufacturer of smartphones. It has close to 200,000 employees worldwide, mostly in China.
Driven by engaged, entrepreneurial employees, employee-owned companies often emerge as industry leaders, pioneering best practices in a range of areas.
One of the most contested and significant ESOP lawsuits in recent years was Perez v. GreatBanc Trust, which resulted in a $5.25 million settlement over the handling of the ESOP at Sierra Aluminum. This article gives some overlooked background about Sierra Aluminum's ESOP.
