Another year is almost over and, hence, it is a perfect time to reflect on accomplishments achieved in 2018 and our hopes for the coming new year. Happy Holidays from all of us at ESOP Builders.
Harmac Pacific mill marks 10 years of employee ownership
- by Greg Sakaki from Nanaimo News Bulletin
Nanaimo pulp mills holds ceremony to recognize milestone
Harmac Pacific remains up and running a decade after a downturn and doubt.
The pulp mill in Nanaimo’s Duke Point industrial area held a brief ceremony outside the mill at lunch hour Thursday to recognize 10 years as an employee-owned company.
“It’s been an absolutely amazing experience for the last 10 years,” said Paul Sadler, CEO of Harmac. “It’s not all been easy. We’ve had some pretty tough years in the past and we’ve certainly had some great sailing over the last 12 months.” ... [More...]
ESOP Association Says Companies, Employees Share Benefits of Strong Performance
The results of this year's Economic Performance Survey (EPS) show that, once again, companies belonging to The ESOP Association have experienced positive corporate performance.
Just as importantly, the EPS once again shows that when companies perform well, employee owners share in the rewards. This year, new data reveal a new facet of how ESOP (employee stock ownership plan) companies distribute those rewards.... [More...]
UK Labour Party Develops Employee Ownership Proposals
- from NCEO Newsltter
The UK Labour Party’s shadow chancellor John McDonnell unveiled a plan to dramatically increase employee ownership in the United Kingdom by setting up “ownership funds” in all companies with 250 or more employees. McDonnell said, “What this will ensure is that in large companies, in addition to rewarding workers with wages, they will reward them with shares that will go into a pool that will allow them to have an ownership role.” Although the mechanisms are still up for discussion, possibilities include companies putting a percentage of profits into a fund to put company shares in a trust on behalf of employees.
The Financial Times cite Adam Marshall, director-general of the British Chambers of Commerce, as supporting the idea that employee ownership could be a good idea for many companies, but noting that wants it to be encouraged through stronger incentives rather than “via government fiat.”
Montreal Company Acquires Padilla
- from NCEO Newsltter
Employee-owned Padilla, a PR firm based out of Minneapolis, has been acquired by Avenir Global. Based out of Montreal, Canada, Avenir is a holding company for communications/PR firms. Padilla had recently grown, due in part to its acquiring other companies, and was the seventh-largest independent public relations firm in the country before being bought. Though the terms of the deal were not disclosed, Padilla’s 210 employees are expected to become part of Avenir’s more than 700 employees spread across 21 offices throughout the world.
All the Canadian ESOP Guidance You Need in One Book
ESOPs in Canada: How to Implement an Employee Share Ownership Plan to Grow and Exit Your Business with Your Legacy Intact is a comprehensive and practical guide to every aspect of designing and implementing an Employee Share Ownership Plan in Canada.
“This is a must read for those business owners thinking about exploring the notion of employee ownership and discovering that “skin in the game” for those on the front lines of leadership is a secret weapon to surpassing your wildest dreams and forecasts! It is magic”
~ Doug Flynn, CEO, Flynn Group of Companies
More information and order details here
"Always deliver more than expected." -- Larry Page, co-founder of Google
Upcoming ESOP Events
See ESOP Builders events page for details on upcoming ESOP events.
Canadian ESOP and Ownership Thinking Books
ESOPs in Canada: How to Implement an Employee Share Ownership Plan to Grow and Exit Your Business with Your Legacy Intact (2015) by Perry Phillips and Camille Jensen. Buy this book on Amazon or FriesenPress.
The $10 Trillion Opportunity: Designing Successful Exit Strategies for Middle Market Business Owners: A Guide for Professional Advisors - Canadian Edition (2007) by Perry Phillips and Richard E. Jackim. Buy this book on Amazon.
Dr. Carol Beatty's book, Employee Ownership: The New Source of Competitive Advantage (published by Wiley and Sons 2001 - ISBN 0-471-64641-5). Buy this book on Amazon.
Brad Hams' book, Ownership Thinking: How to End Entitlement and Create a Culture of Accountability, Purpose, and Profit (published by McGraw-Hill 2011- ISBN-10: 0071772456 - ISBN-13: 978-0071772457). Buy this book on Amazon.
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