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EFES NEWSLETTER - MARCH 2013
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new film on employee ownership in the USA |
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What does it mean to be an employee owner?
We the Owners: Employees Expanding the American Dream
tells the story of three employee-owned companies:
New Belgium Brewing, Namasté Solar and DPR Construction.
ESOP companies are the most typical way for employee
ownership in the USA (an ESOP is an Employee Stock
Ownership Plan).
This model is particularly designed for business transfers
to employees. In this sense, it is clearly the most
effective in the world, being shaped as a pension
plan with strong tax incentives for both family owners
(selling the company to employees) and employees (buying
usually 100% of the company for peanuts). More
information
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Press
review
Selection of 29 remarkable articles in 8 countries in
February 2013: Finland, France, Germany, Italy, Netherlands,
Spain, UK, USA.
Finland: New employee share savings plan for Finnair.
France: Historical shift in corporate governance:
Following national bargaining on competitiveness, employee
participation on boards will be required in large French
companies. As a conclusion of collective bargaining on competitiveness,
Renault will reinforce employee share ownership. Employee
buyouts through workers' cooperatives: Some recent cases
in France. France Telecom: Employee shareholders ask for
new share awards to balance the share price fall. New employee
share plan for Eiffage.
Italy: DirCredito launches the Manifesto for the
promotion of employee ownership in Italy.
Netherlands: The largest trade union in The Netherlands
will support new research on the promotion of employee ownership.
Spain: Key elements to face the crisis: Confidence,
cooperation, adequate legislation for employee ownership.
UK: Employee ownership is now being embraced as the
most prominent alternative to conventional forms of business
ownership. The Government will amend the Companies Act to
make it easier for businesses that incentivise their employees
by issuing them with shares in the company to buy those
shares back when employees leave.
USA: Several new ESOP companies. ESOP programs are designed
to provide ownership interest to the employees of an organization,
typically at no cost to the employee. ESOPs are rare in
West Virginia, while Weirton Steel (now ArcelorMittal) was
the largest ESOP in the United States. For the last 40 years,
stock options have been the most egalitarian force in the
US economy. New documentary film "We the Owners"
now available on DVD.
The full press review is available
on:
http://www.efesonline.org/PRESS
REVIEW/2013/February.htm
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A
political roadmap for employee ownership in Europe
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