Published in the September 27 – October 10, 2017 issue of Morgan Hill Life
Employee Stock Option Programs (ESOP) are an excellent method for privately held companies to partially or fully buy out their owners while keeping the business intact for the benefit of the employees, customers and community. Some of the larger national ESOP firms include Graybar Electric, Rosendin Electric, Recology, Jasper Engines & Transmissions, Morton Buildings and Kelly-Moore Paints. Here in Morgan Hill, Business of the Year Mission Bell Manufacturing is in the midst of converting to a 100 percent employee-owned company through its ESOP program.
ESOPs can be an excellent alternative for much smaller privately held companies as well. While this may seem to be a topic of interest only to business owners, it is actually very important to the other stakeholders in successful businesses. Selling the business to a buy-out firm is often the other alternative way for business owners who need or want to sell off their businesses. Unfortunately, such transactions often result in the operations being closed or downsized when the new owners consolidate the operation into their other holdings and/or outsource production overseas. We are fortunate to be partnering with Mission Bell and Recology to bring Morgan Hill a special ESOP seminar led by Anthony Mathews, Beyster Institute/California Center for Employee Ownership, UC-San Diego at 8 a.m. Oct. 26, 2017, at the Morgan Hill Community and Cultural Center.
The cost is only $5 for chamber members, $10 for non-members. Please visit www.goo.gl/CyNmPb for more information or to register for the seminar.
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Another educational event coming up, this time in partnership with Gavilan College, is on the broader topic of US-Russia relations, cyber-security and our fast-changing world. “The Russians: Security, Cyber-Security, and You Panel Discussion” will be held Nov. 9 at the Morgan Hill Community Playhouse. Please go to www.goo.gl/oGCdsh for more details and online registration.
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One more local informational event is the Oct. 6, 2017 annual manufacturing day. This is a terrific opportunity to see inside a few of Morgan Hill’s innovative companies like Golden State Assemblies (a major Tesla supplier), Creative Manufacturing Solutions (soon to be home to a new trade school) and Kettle Cuisine (where many of the soups, sauces and stews you eat are made). Participation is free, but registration is required. Please learn more and register using www.morganhill.ca.gov/mfg2017.
There is always more to learn and the Morgan Hill Chamber of Commerce is honored to help provide and promote learning opportunities for our community.
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