"Only 15 percent of businesses pass on to the second generation, and according to one leading business broker, only 20 percent of the businesses they list ever sell. These trends exist against the backdrop of the Silver Tsunami — the baby boomer business owner retirement wave, which Project Equity estimates has 2.34 million small business employers on the cusp of retirement. For cities and towns, the consolidation or closure of so many local businesses could have huge negative effects on their local economies — or it could present an opportunity to grow broad-based ownership."
It had to come. The prevasive inequality of wealth and capital ownership in SA is a form of a prolonged apartheid. Employee ownership could be a step towards a functioning modern democracy, as has already been opinionated by David P. Ellerman here.
Now, Clicks have it. And Clicks' employees pocketed an average of R355,000 ($24,000) each from the ESOP scheme. Read more about it here.
Just a few days ago, Kraš ESOP and Mesna industrija Braća Pivac have unanomously decided not to sell the shares to the external bidder. Kraš ESOP is one of the few ESOPs in the Ex-Yugoslavian region, if not the only one. There are around 1100 Kraš workers in the ESOP who jointly own 18,45% of the shares, and cannot sell them individually outside the trust. As employee-owners, they have a voice in strategic decisions, and were able to stop the sale, which could have helped also Adria Airways.
"Adrio Airways lahko teptajo, ji kljuvajo oči, lomijo kosti, mečejo sol na rane. Pod vsemi ranami, podplutbami in zlomi smo tu še vedno mi, vsaka njena celica, žila, tkivo, organ. Ter ne eno, ampak 558 src. In srce, ki bije, ni nikoli zares mrtvo."
SocioLab Posavje invites you for a movie night, where you will be watching the documentary titled "Mondragon, a Basque Cooperative". The evening will conclude with a conversation with Mikel Lezamiz from Mondragon.
Mondragon is without a doubt the most successful democratic enterprise that ever existed. It was founded in 1956 and grew into a cooperative association with dozens of cooperatives, its own schools, university, bank, and hospital.
Rimac Automobili, welcome to the supporters of IED, which aims to institutionalize ESOP-like employee ownership model in Slovenia and the general region.
Rimac Automobili is a Croatian car manufacturer headquartered in Sveta Nedelja, Croatia, that develops and produces electric sports cars, drivetrains and battery systems. The company was founded in 2009 by Mate Rimac with the vision to create the sports car of the 21st century. Rimac Automobili's first model, the Concept One, is known as the world's fastest production electric vehicle.
"People new to the idea often view employee ownership as a kind of corporate crunchy granola, nice for a hip Los Angeles bakery or a knitting-supplies company in Vermont, but not appropriate for “real” businesses. They miss the fact that sizable employee-owned companies can be found in a wide variety of industries and in every region of the country. Unlike most US companies, these ones share the wealth. Unlike many, they create great workplaces. But they are nonetheless squarely in the mainstream of American economic life." (Employee-Owned America)
"Stories from CEOs like Kevin Mauger, who owns NCC Automation, make an impression on audiences. NCC builds the hardware and software for conveyor systems. In 2015, Mauger turned 42 percent of the company over to the employees through an ESOP. Since that time the business has soared.
The same has been true for Voodoo Brewery. In four years, the number of employees has increased from 10 to over 100, the business has quadrupled in value, and Voodoo has opened six new brew pubs. Says COO Jake Voelker, “We couldn’t have done it without our employee-owners."