“Despite the highs and the lows, the important point to remember is that ESOPs can help you establish a transition plan for your business by:
- Creating a market for your company's stock
- Allowing you to sell your business gradually instead of exiting suddenly
- Providing an ownership culture within your company"
In The News
This press release announces that Paychex, Inc. was the only public company to be honored with a 2007 Innovations in Employee Ownership Award by the National Center for Employee Ownership and the Beyster Institute.
“The only public company among this year's award-winners, Paychex is well-known as a provider of payroll, human resources, and benefits solutions to small and medium businesses. With over 11,000 employees and $1.6 billion in revenues, Paychex was named one of Fortune magazine's "100 Best Companies to Work For" in 2007. Its multi-pronged equity compensation program includes an employee stock purchase plan, a company stock fund in its 401(k), and a broad-based stock option program that covers well over 90% of the work force. Employees take extensive advantage of the ability to invest in Paychex, and the company in turn invests in employees with award-winning employee training programs.”
We also discussed the 2007 Grand Prize Winner here: Immediately Focusing on Building an Ownership Culture
For those of you following the Tribune transaction, here is a blog post that discusses Sam Zell, the newspaper industry, and the company’s chances for long-term success. Also, here is an article discussing the potential final transaction price.
“CHICAGO Deutsche Bank Securities (DBS) newspaper industry analyst Paul Ginocchio lowered the target price for Tribune stock to $32-a-share from $34 on the "probability" that the Sam Zell-led $5.2 billion deal to take Tribune private may fall in value -- or founder altogether."
