Coalitions, Transitions, and New EO software

EO+WD Weekend Newsletter, Vol. 71

Welcome Back

The month of September is almost over. How did you spend yours?

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📝 What We’ve Been Up To

• Tiffany reports on Zolidar’s website launch and their mission

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🗞️ News To Know

• NCEO is looking for speakers for the 2025 Annual Conference, read more about it here!

• Pete Stavros announces a new coalition: Expanding ESOPs, which aims to enhance the current ESOP model and its governing laws. Plus more on the 50 organizations that joined together to launch it

• Joseph Blasi highlights Vice President Harris’s stance on profit sharing and employee ownership. Jump to 32:11 minutes to hear about it

• Calling all Colorado business owners! Check out these two scholarship programs to help transition your company

  • CCWB Application

  • RMEOC Application

🕴️Ownership Transitions

• Empowered Energy Systems LCA in Colorado transitioned to a 100% worker cooperative

• IPA firm, Perelson Weiner LLP in NY announces that their equity partners have transferred 30% ownership to an ESOP

• SchuBemo Holdings transitioned to an ESOP

• Ball’s Food Stores announces their establishment of an ESOP

• New York’s Stewart’s Shops prepare to sell their 60% family stake to employees

• PR Newswire announces AEC Electric’s shift to becoming 100% employee owned with the help of The Menke Group

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🕵️‍♀️ Research & Analysis

• Project Equity showcases its representation at a national event focused on promoting employee ownership

• Peter Koehler and Keeley Tillotson cover perpetual purpose trusts, whether climate activists should eat meat and so much more in their weekly roundup on Uncommon Business Bulletin #4

• Harford Business explores effective succession planning strategies for Baby Boomer business owners

• A recent report from Carta reveals trends in private equity ownership, showcasing advancements in the field

• The Harris-Walz Campaign advocates for a new approach to bolster American industrial strength by focusing on policies that support job growth and equitable labor practices

• NCEO’s recent report reveals that 6% of business transfers in the UK are via employee ownership trusts

📈 ESOPs

• EOX National Service Provide, SES ESOP Strategies explains ESOP transactions and more

• Tom Roback has been inducted into the ESOP Advisor Hall of Fame for his employee ownership contributions

• Phillip Hayes reviews the role of an ESOP trustee on the transaction and ongoing side in his latest podcast episode: EP26 - Interview with an ESOP Trustee - Bryce Lenox out of Cincinnati

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🌆 What’s Coming Up: Events

• October 8-10: Employee ownership will be one area of focus at the 2024 California Economic Summit.

• 🆕 | October 15: Tune in for a transformative conversation on the future of Donor Advised Funds (DAFs) and their potential to reshape to scale employee ownership. Register here (H/t Katherine)

• 🆕 | October 18: Worker Cooperatives in New York: New Models for Social Impact, from experts in the field from The Democracy at Work Institute, Register here

• October 21-22: NCEO hosts Is An ESOP Right For You? in Phoenix, AZ

• October 23: Attend “An Introduction to Employee Ownership Trusts” presented by fds Director Services, register your free spot here

• October 24: The Georgia Center for Employee Ownership’s Employee Ownership Celebration

• 🆕 | October 24: Join ILCEO for the first annual ILCEO 2024 Employee Ownership Celebration

• December 4: The 2nd Annual Ownership Economy Summit in New York City. Register here

• 🆕 | January 13-17, 2025: Registration for The 59th Annual Heckerling Institute on Estate Planning which will explore the use of purpose trusts as a new approach for business succession is here!

• February 20, 2025: Attend “The Employee Ownership Transition: A Deep Dive” a workshop for insights on the process of selling to an employee ownership trust (in Scotland)

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🕰️ ICYMI