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We hear a lot about the the rising level of economic inequality in our society, the increasingly precarious nature of employment, and the difficulties of saving for retirement. What we hear about much less is the how employee owned firms, in particular companies with Employee Stock Ownership Plans, can help address these an many other issues by helping workers build wealth - broadly defined. In this episode we sit down with two senior researchers, Janet Boguslaw and Lisa Schur, and talk about a they co-authored that focuses on these questions. We discuss in detail how employee ownership can help low and moderate income employees build assets as well as recommendations they have to expand the sector and spread the benefits of employee ownership to a larger share of workers. WE WANT TO HEAR FROM YOU!! If you have a story about employee ownership that you want to share email us at oeoc@kent.edu LINK TO REPORT This report discussed in this episode was made possible by the generous support of the Kellogg Foundation. Follow the link below to learn more and access the report: https://smlr.rutgers.edu/sites/default/files/rutgerskelloggreport_april2019.pdf GUEST INFO Lisa Schur: https://smlr.rutgers.edu/faculty-staff/lisa-schur Janet Boguslaw: https://www.brandeis.edu/facultyguide/person.html?emplid=618c696e80b167f775d26cef40323f5cb830910c 

If there is one thing to know about the field of employee ownership it's that it includes a wide variety of models. In the US, Employee Stock Ownership Plans (ESOPs) and worker cooperatives are the two most well known, but there are many others. In this episode we sit down with Chris Michael, an attorney and professor, to discuss a less known model - the employee ownership trust. We dig into the history of the model, talk about its similarities and differences to ESOPs and worker cooperatives, and cover why selling business owners may want to consider it. ***WE WANT TO HEAR FROM YOU!*** Have a comment about the work we are doing or an employee ownership story of your own? Email us at oeoc@kent.edu  EPISODE GUEST CONTACT INFOMATION Chris Michael: https://www.eolaw.com/  

We’re getting to the end of year, and a general theme of our upcoming programming, as well as many of our conversations with companies and advisors alike, focuses on taking stock of what’s happened, and is still happening, and how we are looking at, and planning for, the future. In this episode of the Owners At Work podcast we’re highlighting a couple of recent conversations on this theme. First up we have Tina DiCroce and Collin Mayer of Chartwell talking about the impacts of Covid on repurchase and sustainability, a key issue for ESOP companies. And then we talk with Nick Sypniewski of Comstock Advisors about the covid impacts for business valuations, and the general outlook for the economy, heading into 2021. As always, we welcome your feedback on the discussion and the episode.  ***We Want to Hear From You*** If you have a story about employee ownership that you would like to share, or a topic you would like us to cover, please email us at oeoc@kent.edu Speaker Contact Info: Nick Sypniewski http://comstockadvisors.com/employees/nickolas-sypniewski/ Tina DiCroce: https://www.chartwellfa.com/professionals/tina-dicroce Collin Mayer:     https://chartwellfa.com/professionals/collin-mayer    

In this episode we speak with six experts in the field of employee ownership about how to approach 'regular' operations that all ESOPs must undertake while at the same time keeping an eye on planning for the long term. The discussions, which are adapted from our Annual Conference Short Take videos, focus on ESOP processes and procedures, sustainability, and more. We talk about valuations and preparation strategies, the role of third party administrators, how to best approach repurchase obligations, the evolving concept of ESOP sustainability, what  ESOP sustainability studies are, and how to put them into action. QUEST SPEAKERS  Pete Shuler, Crowe LLP: https://www.linkedin.com/in/pete-shuler-5631044/ Nick Adamy, Adamy Valuation: https://adamyvaluation.com/team/nick-adamy/ Nick Sypniewski, Comstock Advisors: http://comstockadvisors.com/employees/nickolas-sypniewski/ Tom DeSimone, Prairie Capital Advisors: https://www.prairiecap.com/team/tom-desimone-cpa Tim Jamison , Prairie Capital Advisors: https://www.prairiecap.com/team/timothy-jamison-cpa Tina Dicroce, Chartwell: https://www.chartwellfa.com/professionals/tina-dicroce REACH OUT TO US!  We are always looking to hear from those in the employee-ownershup community and are happy to help highlight your story and bring it to a larger audience. Email us at oeoc@kent.edu  SHORT TAKE VIDEOS The interviews in this episode are adapted from video interviews that can be accessed here: https://www.oeockent.org/short-takes

It is well known within the employee ownership community that employee-owned companies do better in times of crisis compared to conventionally owned companies. However, this not a law of gravity, it is the result of countless actions taken by and processes created within employee-owned firms. In this episode we speak with five experts in the field of employee ownership and look at what actions ESOPs can take in this current economic environment to ensure that they make it to the other end of this crisis. The discussions are wide ranging and focus on legal issues for distressed companies, employee engagement and communication, trustee relationships, managing your capital position, forming good relationships with banks and other financial partners, and current trends among existing employee-owned companies. EPISODE QUESTS Chelsea Mikula: https://www.tuckerellis.com/people/chelsea-mikula Dale Vlasek: https://mcdonaldhopkins.com/Team/Attorney/d/Dale-Vlasek Eric Zaleski:                            https://www.pcecompanies.com/staff-member/eric-zaleski Cathy Ivancic: http://workplacedevelopment.com/about-workplace-development/ Corey Rosen: https://www.nceo.org/NCEO-Speaking-Consulting-Staff/id/53 LINK TO SHORT TAKE VIDEOS https://webflow.com/design/ohio-employee-ownership-center?pageId=5f2c5351fb9fc0a9762740a9

In this episode we speak with five experts in the field of employee ownership about the process of selling a business to employees via an Employee Stock Ownership Plan. Each interview focuses on a particular aspect of the process. Taken together, the interviews provide a general primer for anyone interested how the process works as well as what key issues should be considered at different points within the process. CONTACT US! Email: oeoc@kent.edu  Phone: (330)672-3028   MORE RESOURCES Short Take Video Library: https://www.oeockent.org/short-takes Video Resources For Selling Owners: https://www.oeockent.org/exit-planning/video-resources-on-selling-to-your-employees Exit Planning: https://www.oeockent.org/exit-planning/frequently-asked-questions SPEAKERS Phil DeDominicis, Menke and Associates https://www.menke.com/about-us/professionals/advisory-professionals/ Floyd Trouten, Barnes Wendling https://www.barneswendling.com/employees/floyd-trouten/ Tim Jochim, Walter Haverfield https://www.walterhav.com/professional/tim-jochim/ Brian Bornino, GBQ https://gbq.com/author/brian_bornino/ Avery Chenin, SES ESOP Strategies https://sesesop.com/team_member/avery-chenin/#:~:text=Chenin-,Avery,Chenin&text=For%20more%20than%2025%20years,in%20transactions%20involving%20employer%20securities.

There is a large body of research demonstrating that employee owned companies outperform their conventional counterparts. However, much of this research focuses on company level characteristics. In this episode we sit down with Nancy Wiefek, Research Director at the National Center for Employee Ownership (NCEO) to talk about the groundbreaking research she conducted that looks at how employee ownership improves the economic well-being of individual employee owners. OUR 34TH ANNUAL CONFERENCE IS JUST AROUND THE CORNER CHECK IT OUT: https://www.oeockent.org/resources-events/annual-ohio-employee-ownership-conference ORIGINAL REPORT: https://www.ownershipeconomy.org/wp-content/uploads/2017/05/employee_ownership_and_economic_wellbeing_2017.pdf WEBSITE WITH UPDATED DATA: https://www.ownershipeconomy.org/   

he world of employee ownership is made up of a vast array of stories, experiences, and journeys. Within this diversity, there are certainly differences, but also, in our view, an overriding commonality - broadened ownership of productive assets is good for employees, the businesses they work for, and the economy at large. In this episode we sit down with Kristen Barker of Coop-Cincy and Michael Peck of One Worker One Vote, to talk about how they are working to create a network of worker cooperatives with the aim of decreasing economic inequality and generating individual and community wealth. ***WE WANT TO HEAR FROM YOU!!!! CONTACT US*** oeoc@kent.edu ORGANIZATIONS AND CONTACT INFORMATION Co-op Cincy: https://coopcincy.org/ Kristen Barker: kristen@coopcincy.org  1 Worker 1 Vote: http://1worker1vote.org/ Michael Peck: mpeck@mapagroup.net       

Based on a recent webinar this episode includes a conversation with two financial experts, Eric Zaleski and Sean Kelleher, who talk about where we are now, and how to successfully get to the other side. We cover general market conditions; the lending and finance markets for privately held companies; managing cash flow and debt load (and staying solvent); managing your SBA loan to ensure compliance; and how to position your employee-owned company to not only survive but thrive moving forward. WE WANT TO HEAR FROM YOU!!! Contact us at oeoc@kent.edu Sean Kelleher of First Financial Bank: https://www.linkedin.com/in/sean-kelleher-bb65a83 Eric Zaleski of PCE: https://www.pcecompanies.com/staff-member/eric-zaleski  

The sale of a private business to an ESOP can seem like a very different beast than a typical business transaction. There are, of course, components of a sale to an ESOP that you won’t find in a third-party sale or a family transfer, but there also similarities. For this episode we talk with attorney Avery Chenin of SES ESOP Strategies on outlining, and demystifying, a sale to an ESOP. We discuss the process of selling a business to employees using an ESOP; what steps need to be taken; what professionals need to be involved; how long the process may take; and the financial benefits of an ESOP transaction for the owner, the business, and employees. There are two parts to the episode, the first is an outline of the process, and the second is an update  takes into account the current economic situation and how this impacts a sale to an ESOP ***Please reach out to us with your employee ownership story by emailing oeoc@kent.edu*** Avery Chenin: https://sesesop.com/team_member/avery-chenin/

For this episode we , we talk to IntrustIT CEO (and selling owner) Tim Rettig, a new ESOP company in the Cincinnati area. Tim talks about why he chose to sell his business to the employees, and the impact the decision has had on the company; the benefits of open-book management; how the company is faring in the current crisis; and his plans to be a one-man employee ownership venture capitalist. ***If you have story you want to share please contact us!!!*** OEOC: oeoc@kent.edu Chris Cooper: ccooper1@kent.edu  Michael Palmieri: mpalmie2@kent.edu   

For this episode we head out to California and check in with Corey Rosen, Founder of the National Center of Employee Ownership (NCEO) located in the Bay Area; and Kim Blaugher, who recently became the Executive Director of the Beyster Institute at UC San Diego. Our conversation with Corey Rosen begins with the impact of the current crisis on the operations of the NCEO, how the crisis is effecting the employee-owned companies he is talking to regularly, and his thoughts on the state of the employee-owned sector now, and in the future. Our talk with Kim Blaugher of the Beyster Institute was recorded a bit earlier and more at the front end of the crisis, but we also had a chance to get his thoughts on the future of the employee-owned sector, how he came to, and what's in store for, the Beyster Institute. **CONTACT US** We want to hear from you! Send an email to oeoc@kent.edu **PLEASE DONATE TO THE OEOC** We make this show available for free, but it is not free to produce. Make a donation to the OEOC at: https://secure2.convio.net/ksu/site/Donation2;jsessionid=00000000.app20067a?2440.donation=form1&df_id=2440&NONCE_TOKEN=03B3341720750D9CE1DF51DF982D0B1F LINKS  NCEO 2020 Conference: https://annualconference.nceo.org/ Beyster Institute Programming: https://rady.ucsd.edu/centers/beyster/ OEOC Free COVID-19 Resources: https://www.oeockent.org/rapid-response-resources

With the outbreak of the COVID-19 epidemic, good strategies for building culture and facilitating communication are more important than ever. Whether it is social distancing, remote workplaces, or the stress and uncertainty that comes with an unknown future.  In this episode we connect with Jim Bado and Cathy Ivancic of Workplace Development. First up, Jim Bado in a postscript to a free webinar on maintaining  your ownership culture in tough times (see link below), discusses strategies for communicating and building culture among social distancing employee-owners. Next up, Cathy Ivanci provides insight on communication strategies for your employee-owned company, including how to talk about good and bad news, structuring your communication committee, and more.  Free webinar with Jim Bado: https://attendee.gotowebinar.com/recording/50118344814350859 OEOC Rapid Response Resources: www.oeockent.org/rapid-response-resources *****Special Thanks to our Gold Sponsors*****  Apple Growth Partners Crowe  Prairie Capital Advisors PCE Investment Bankers  

In this episode we discuss two aspects of leadership. First, we talk with Tim Jamison and Tom DeSimone of Prairie Capital Advisors on planning for leadership succession in your employee owned company, we discuss processes, procedures, and best practices. In the second half we talk with Jeff Evans former CEO of The Will-Burt Company, an employee-owned company in Orrville, OH. Jeff discusses hist perspective on what makes for effective leadership in an employee-owned company.  The Will-Burt Company: https://www.willburt.com/  Jeff Evans: https://www.linkedin.com/in/jeff-evans-4739a31 Tim Jamison: https://www.prairiecap.com/team/timothy-jamison-cpa Tom DeSimone: https://www.prairiecap.com/team/tom-desimone-cpa OEOC webinars: https://www.oeockent.org/ohios-eo-network/network-webinars

There are a lot of things that create value in an employee-owned company. Some of those things are bottom line related: sales, customer satisfaction, repurchase obligations, or external market pressures within or across industries. But, when we begin to talk about what motivates employees to think, act and feel like owners we move to the area of values. As you might expect, the two are closely related. In this episode we take on both ideas and try to show that while each is important in its own right, when connected in a thoughtful way, value and values can have positive benefits for your company's bottom line and culture of ownership. ***We want this show to cover issues that are important to you. If you have an idea for a topic or a story or experience with employee ownership you would like to share please email oeoc@kent.edu*** Matthew Silla https://www.applegrowth.com/people/matthew-j-silla/ Eric Flinkinger: https://www.applegrowth.com/people/eric-flickinger/ Apple Growth Partners Podcast Slice: https://www.applegrowth.com/category/agp-podcast-sliced/ ---- Matthew Hancock: https://praxiscg.com/about-us/our-people/    

In this episode we introduce the Ohio Employee Ownership Center's new podcast Owners at Work, which aims to talk about everything and anything dealing with employee-ownership.  We hope to make the podcast about the issues important to you, your company, or organization.  ***If you have a topic you would like to hear about, or a story or experience you would like to share please contact us at oeoc@kent.edu***