Due to the complexities of setting up an employee stock ownership plan (ESOP), featured in “Ownership pride,” proprietors must enlist the help of several experts to ensure the company has a smooth transition to an ESOP. Kelly Finnell, president of Executive Financial Services, calls these individuals your ESOP team and says it typically consists of: The company’s owner(s) or successor... read more
David DuBois, president of Mission Landscape, says the most difficult part of maintaining an employee stock ownership plan (ESOP) is “educating the (employee) ownership.” Which is why the company created an ESOP newsletter to overcome that hurdle. DuBois, who was featured in this month’s cover story, “Ownership pride,” provided a couple of copies of the newsletters, which include (all PDFs):... read more
Prior to implementing an employee stock ownership plan (ESOP), S and C corporations must undergo a feasibility analysis to determine whether the company is financially qualified to do so. In hand with this month’s cover story, “Ownership pride,” CCG Advisors provided an example feasibility analysis for a company seeking to implement a leveraged ESOP. In this example the company is... read more
Kelly Finnell, president of Executive Financial Services, an employee stock ownership plan (ESOP) consulting firm, has centered his entire career on ESOPs and succession strategies. With more than 25 years of experience, Finnell has implemented the plan in small- to mid-size businesses nationwide, including setting up one for Michael Hatcher, president of Michael Hatcher & Associates, who is featured in... read more
Larry Ryan accepts he has an expiration date. Larry Ryan, Ryan Lawn & Tree Photos: Ryan Lawn & Tree, Michael Hatcher and Mission LandscapeThe realistic president of Ryan Lawn & Tree knows he’s going to die at some point, as everyone will, and then he’ll no longer have a hand in the $26 million company he founded in Overland Park, Kan.,... read more
Ryan Lawn & Tree, a 25-year-old, employee-owned company based in Overland Park, Kan., merged with Simply Green Lawn Sprinklers, located in Riverside, Mo. Simply Green notified its nearly 1,000 clients of the transition last month. “We are thrilled to partner with Simply Green and to learn from Tony Shores, who is now a national consultant with Rain Bird,” said Larry... read more
