Upcoming Employee Ownership Events: September

If you’re seeking an opportunity to learn more information on Employee Ownership, here is a rundown of events coming up soon.

OEOC September Events

We will be hosting two forums to answer questions on the impact of the Affordable Care Act on employee-owned businesses. Employee Ownership Forum: Health Care and the Employee-Owned Company–What Your Company Needs to Know will take place on September 9 at Oswald Centre, Cleveland, Ohio and September 24 at the Crowne Plaza Cincinnati Blue Ash. The forum will be co-sponsored by Oswald Companies and Paycor.

On September 25, we will host the 4th Annual Southwest Ohio Employee Ownership Forum also at the Crowne Plaza Cincinnati Blue Ash. This day long meeting will feature keynote speaker Greg Pitner, Vice President & Business Development Officer Quadrant Financial Inc. / Certus Bank and presentations throughout the day from other experts on fundamental ESOP guidelines, appraisal, communication and administration, and issues faced by mature ESOPs. This forum will be co-sponsored by Dinsmore & Shohl LLP and ComStock Advisors.

Other Notable Employee-Ownership Events

The Rocky Mountain Employee Ownership Center will be hosting the Community Wealth Building Conference in Denver, CO on September 7.  The conference will feature keynote speaker Steve Dubb, one of the strategic planners behind Cleveland’s pioneering Evergreen Cooperatives and Research Director at the Democracy Collaborative. The day-long conference will also offer breakout sessions on how to obtain capital to start a business, how to start a cooperative business, urban agriculture as a community wealth-building strategy, emerging collaborative models in the local food system, and more..

October & Beyond

New Webinar Series added to Fall Network Events

We invite employee-owners to take part in October’s three webinar sessions covering a variety of topics presented by some of the most experienced, knowledgeable, and dynamic professionals in the ESOP community.

October 1, 2013  10 AM – Accounting 101 for ESOP companies
This webinar will focus on the financial statement impact for partial and fully owned ESOP companies. It will detail the balance sheet and income statement impact, as well as the disclosure requirements for such companies. – Presented by Bill Schramm and Pete Chudyk, Moloney & Novotny

October 10, 2013  10 AM – Administering Your ESOP 
In today’s challenging economic environment, members of a company’s Board of Directors, corporate officers, ESOP trustees and ESOP committee members need to make sure that they properly understand their roles and responsibilities. – Presented by Sharon Hearn and Alex Mounts,  Krieg Devault

October 16, 2013  10 AM – ESOP’s – Just another Benefit? How is your ESOP part of the overall “rewards & benefit” program at your company?
Your total Benefits and Rewards package is an important expenditure for your business. This session will explore the options when structuring a comprehensive benefit and compensation plan for your company. – Presented by Dan Riemenschneider, Bruner-Cox

For more information on any of the webinars, visit the Network Webinar page. 

Fall Network Schedule:

3 Ohio Companies make NCEO’s list of Largest Majority Employee-Owned Companies

Each year, the NCEO releases The Employee Ownership 100: America’s Largest Majority Employee-Owned Companies.

To qualify for the list, companies must be at least 50% employee owned through an ESOP or other qualified plan and at least 50% of full-time employees must be eligible to participate in the plan.

For 2013, three Ohio companies made the list:

Davey Tree Expert of Kent, OH with 7,400 employees

Davey Tree has been recognized many times as a leading employee-owned company. Earlier this year, Davey Tree expanded it’s company by acquiring a tree company in Minnesota, marking Davey’s 15th acquisition in the last five years. Davey established an ESOP in 1979 and is now the fourth-largest 100% employee-owned company in the United States/

Riesbeck Food Markets of St. Clairsville, OH with 1,300 employees

Riesbeck began as a small family-owned grocery in Woodsfield, Ohio in 1926. Since then the company has grown to include 16 stores and 6 pharmacies throughout Ohio and West Virginia. The company established an ESOP in 1986, and is currently 57% employee owned and the Riesbeck family is still actively involved in the company.

Zandex Health Care of Zanesville, OH with 1,200 employees

Zandex, a provider of independent living, assisted living, rehabilitation and senior care established their ESOP in 1988. Based in Zanesville, the company now has facilities in New Concord, St. Clairsville, and Shadyside and offers an in-home emergency response team in Muskingum County. The ESOP which now owns 51% of the company.

Mark your calendars for the Southwest Ohio Employee Ownership Forum

The Southwest Ohio Employee Ownership Forum provides attendees with the opportunity to learn more about the fundamental requirements for ESOPs, Employee Ownership Culture, standard appraisal methods and the challenges faced by mature ESOPs.

The sessions will include information helpful to all those in employee-owned companies as well as those considering and ESOP.

Wednesday, September 25, 2013
Crowne Plaza Cincinnati Blue Ash

Sessions will include:

  • Basic Guidelines, Provisions, and Plan Features for ESOPs
  • Impacting Your Share Value–Appraisal Basics and Special Issues for ESOPs
  • Sharing Financial Information with Your Employee Owners…how open should your “open book” be to drive top performance
  • Some Mature ESOP Issues: Sub S Strategies, Repurchase Liability Concerns, Acquisition Considerations

Watch this space for more information on this and other upcoming Network events!

How Does the Affordable Care Act Impact Employee-Owned Companies?

Ohio’s Employee-Owned Network is co-sponsoring a new event to help administrators at employee-owned companies to understand the ever-changing legal requirements, and other compliance issues in providing health care benefits for employees.

Health Care Forum: Code, Coverage, Compliance

An Interactive Event for Employee-Owned Companies

The event will include two sessions:

  • Monday, September 9, 2013 in Cleveland, OH
  • Tuesday, September 24, 2013 in Cincinnati, OH

Both sessions run from 1:00-4:30 pm (registration begins at 12:45)

For more information, including an agenda and registration form, click here.

The Employee Ownership Foundation’s 2013 Employee Owner Retreat

The Employee Ownership Foundation’s 2013 Employee Owner Retreat will be held in Downers Grove/Chicago IL – August 15-17, 2013.

The Employee Owner Retreat is a two-and-a-half day, off-site training seminars staffed by the Ohio Employee Ownership Center, where non-managerial employee owners learn from and interact with their peers from other ESOP companies.The program, geared toward hourly and salaried non-managerial employees, will help participants develop team problem solving skills, become more knowledgeable about ESOPs and company financial statements, and gain a new perspective on employee ownership at their companies through structured exercises and informal discussions.

Employee Owner Retreat alumni say:

“I think this retreat was a positive experience and has given me a lot of good ideas to take back to my company. Very helpful!”

“I learned a lot from presenters and employee owners. Thank you.”

“Very valuable, and an opportunity to meet other champions, share ideas, and create resources.”

Visit the OEOC Website for more information

If you have questions or need more information call: The OEOC, Jay Simecek, 330-672-3028 or the ESOP Association, Rosemary Clements, 202-293-2971

Owners at Work, Summer 2013–Now Available!

coverInside this issue:

  • How Risky Are Acquisition Loans for new ESOPs?
  • The 27th Annual Ohio Employee Ownership Conference: Employee Ownership: Building Jobs, Wealth & Communities
    • “Your Story Makes the Difference.” J. Michael Keeling, ESOP Association, Morning Keynote Speech
    • “Is Employee Ownership Really Worth It?” Corey Rosen, National Center for Employee Ownership, Lunch Keynote Speech
  • Ohio’s Top 50
  • Book Review: Gar Alperovitz, What Then Must We Do? Straight Talk About the Next American Revolution

View the full edition online by clicking the image below or download the newsletter in one of 3 formats:

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2013 Ohio Employee Ownership Conference Highlights

We’d like to thank everyone who came out to our 2013 Ohio Employee Ownership Conference on April 19.

The pictures are in and the full gallery is available Facebook. Here are a few highlights from the conference:


Michael Keeling, ESOP Association
Addresses the audience during his morning keynote speech.

Congratulations to our Award Winners (left to right) Carbo Forge, Inc, 25 Years of Employee Ownership Equity Engineering, Getting Your ESOP Off to a Good Start Kramig Insulation, 25 Years of Employee Ownership

Congratulations to our Award Winners
(left to right)
Carbo Forge, Inc, 25 Years of Employee Ownership
Equity Engineering, Getting Your ESOP Off to a Good Start
Kramig Insulation, 25 Years of Employee Ownership


Corey Rosen, NCEO
Skyping in his Lunch Keynote after his flight was cancelled due to weather.
Rosen was also this year’s recipient of the John Logue Employee Ownership Excellence Award.


Bill McIntyre, Former Director of the OEOC, receives a surprise in honor of his retirement.


Thanks again to our sponsors!

There are more photos to check out on our Facebook Page!

Time to Reserve a Spot for the May 21 CEO/CFO Networking Dinner

Our Popular CEO / CFO Networking Dinner

Will be in Columbus!

Tuesday, May 21

by calling the OEOC at 330-672-3028
or emailing the name, title, company, and email address of anyone in your company who will be attending to oeoc@kent.edu.

“Visit Star Leasing, have dinner, and network”

Star Leasing Company, headquartered in Columbus, has been providing a quality one-source solution to its customers’ semi-trailer needs since 1974. Star Leasing’s overall objective is to be the “One Solution” (Rent, Lease, Sell, Maintain) for semi-trailer needs for all of their customers. The company provides tailored lease and rental programs for semi-trailers including complete maintenance service with full service locations in Ohio, Indiana, Georgia, North Carolina and Alabama. Star also provides trailer maintenance for customer owned equipment. Their typical customers are private & contract transportation fleets and motor carriage companies. Star became 100% employee owned in 1987 and has nearly 200 active employees.

To learn more about Star Leasing, visit its website at www.starleasing.com

star leasing 1
star leasing 2
star leasing 3

This event, always popular with ESOP company executives, will be hosted by Jeff Rosen CFO at Star Leasing. Join your fellow ESOP managers to observe this very unique company and share ESOP ideas. There is no charge for this event. We welcome top management from ESOP companies to attend, not necessarily only those with CEO and CFO titles.

The session will include a company tour, dinner, networking and Q & A.

Tentative agenda:
4:30pm – Arrive, refreshments/networking and Star Leasing tour
6:30pm – Dinner, and Question & Answer Session
8:30pm – Ajourn

For reservations please call the OEOC: 330-672-3028

Bipartisan Bill Introduced in Support of Employee Ownership (S. 742)

On April 17, Senator Ben Cardin (D-MD) and Senator Pat Roberts (R-KS) introduced bipartisan legislation based on a survey released by the Employee Benefit Research Institute stating that 28% of Americans worry that they won’t have enough money to retire. According to Cardin and Roberts, Employee Ownership offers a sound solution to this problem.

Far too many Americans are inadequately prepared for retirement. Our legislation is about helping workers save by giving businesses the tools they need to create jobs and promote adequate retirement savings.  It will strengthen a structure that promotes employee-ownership and helps workers build secure retirements…
-Senator Ben Cardin

Alex Brill of the American Enterprise Institute and CEO of Matrix Global Advisors, argues that employee stock ownership plans have higher productivity and resilience. The bill introduced by Roberts and Cardin would encourage the formation of S-Corp ESOPs, because this type of ESOP has been particularly successful in terms of longevity, wages, and growth.

S ESOPs have also proven more resilient in the face of economic distress, outperforming other private U.S. employers during the recent recession.
-Alex Brill

Among the positive impacts of an S ESOP according to Brill are $77 billion in labor income, $246 billion in output, and $27 billion in tax revenue from 1.4 million jobs. More details on the Brill’s research can be found in his study, Macroeconimic Impact of S ESOPs on the U.S. Economy.

More information on the proposed bill, Promotion and Expansion of Private Employee Ownership Act of 2013 (S. 742):