An article today by Alexandra Lopez-Pacheco in the Vancouver Sun, A little-used model, is a re-print of her previous article about Great Western Brewing. Today’s article is identical as far as I can tell. But Ms. Lopez-Pacheco got it in another publication so that is a good thing.
Additionally, there is an article today from the Lacrosse Tribune out of Wisconsin, Badger Corrugating hands over 40 percent ownership to workers. The article discusses taxes and financial advantages and such, but also eventually some human psychology…
Ownership can change a worker’s feelings about the fate of the company, engaging them and inspiring teamwork. That kind of attitude adjustment is another potential boon for ESOP businesses, [Mary Jo Werner, a CPA and partner with Wipfli in La Crosse,] said.
“If you have a stake in the outcome, if you’re an owner in something, you’ll work a little harder,” Werner said. “Be a little more mindful of what opportunities there are for the company.”
The decision was about more than just tax advantages for [Badger President Mike Sexauer.] The ESOP will increase the chances of his employees thinking like owners and striving to improve the bottom line, even if it’s something as small as keeping the thermostat low or flipping a light switch, Sexauer said.
“It’s different than ‘I’m just working here,’” he said.