ESOPs (BenefitsLink.com)Headlines re ESOPs, gathered by BenefitsLink.comOpinion The New Retirement Drama: ESOPs- (Found June 29, 2008 ) Excerpt: "As Bear Stearns becomes the latest corporate giant to implode, a new group of employees must face retirement with far less savings than they anticipated. While the Bear Stearns debacle is reminiscent of Enron Corp.'s $2 billion pension disaster, it highlights a different potential employee investment drama. How will retirement savings held in Employee Stock Ownership Plans (ESOPs)--such as the one at Bear Stearns--fare if more companies disappear into the mortgage morass."...http://www.treasuryandrisk.com/newsletter.php?issue=200455 Opinion Countering Negative ESOP Coverage with the Facts- (Found June 29, 2008 ) This opinion piece counters the recently published 'Treasury and Risk' editorial, The New Retirement Drama: ESOPs, about Bear Stearns and ESOPs. (The One-Stop ESOP Blog)http://www.onestopesopblog.com/2008/03/countering-negative-esop-coverage-with.html Employee Ownership Update for February 14, 2008- (Found June 29, 2008 ) NCEO Executive Director Corey Rosen discusses the significant growth of ESOPs in 2007; a special Wall Street Journal feature on ESOPs; new data on employee ownership in 401(k) plans; and entries for The Principal 10 Best Companies for Employee Financial Security program. (National Center for Employee Ownership)http://www.nceo.org/columns/cr247.html Study Finds Employee Ownership Improves Performance of Newly Privatized Businesses- (Found June 29, 2008 ) Excerpt: "The authors' conclusion Privatization per se is not a 'magic bullet.' Where profits and sales efficiency increased for privatized firms, it was due in large part 'to successful training and development programs that were implemented and because employees and managers were urged to gain a more vested interest after gaining options to buy shares in their enterprises.'" (The Beyster Institute)http://beysterinstitute.ucsd.edu/other_resources/leading_companies/feb08/lc0208ImprovePerf... Guidance Overview Federal Court Permits Dividend Deduction for Stock Redeemed from ESOP (PDF)- (Found June 29, 2008 ) 3 pages. Excerpt: "A corporation that is interested in claiming a tax deduction for costs associated with redeeming shares from an ESOP should consult with legal counsel with expertise in this area and proceed cautiously. The IRS has clearly stated its position as evidenced by its issuance of final regulations specifically disallowing the deduction after the General Mills ruling. This suggests that one district court decision will not, in itself, change the IRS's enforcement position or...http://www.morganlewis.com/pubs/EB-ESOP_DividendDeduction_LF_04feb08.pdf Employee Ownership Update for October 29, 2007- (Found June 29, 2008 ) NCEO Executive Director Corey Rosen reports on the extension of the date for complying with the Section 409A deferred compensation rules; a proposal to tax synthetic equity in S corporation ESOPs; a survey finding 19% of fast-growing companies plan ESOPs as a business transition strategy; and a new study finding that large stock option grants to CEOs appear to hurt investors. (National Center for Employee Ownership)http://www.nceo.org/columns/cr240.html Legislative Language of ESOP Proposal Revealed (PDF)- (Found June 29, 2008 ) 1 page. Excerpt: "Section 3701 of HR 3970, by Congressman Charles Rangel, is the ESOP S Corp provision . . . . Please note, the provision defines as an option any interest that is the same as what is defined as synthetic equity in IRC 409(p)(6)(C). The new tax provision would apply to options granted after the date of enactment. There is strong opposition to the entire bill, and enactment would be no earlier than some time in 2008, or perhaps even later, if ever." (ESOP Association)http://www.esopassociation.org/pdfs/10-26-2007_Legislative_Alert.pdf Employee Ownership Update for December 3- (Found June 29, 2008 ) NCEO Executive Director Corey Rosen discusses a Supreme Court case on the standing of individual plan participants to sue; the DOL's elimination of the Form 5500 Schedule E filing requirement for ESOP companies; falling retirement plan participation; and Winston Churchill on employee ownership. (National Center for Employee Ownership)http://www.nceo.org/columns/cr242.html Picture of European Employee Share Ownership in 2007: Comparing 14 European Countries and Austria (PDF)- (Found June 29, 2008 ) 7 pages. Excerpt: "This information is based on EFES database, including all European groups whose market capitalisation was more than 200 millions Euro in May 2007. These are 2.500 groups, employing 33 millions people, on which 41 Austrian groups." (European Federation of Employee Share Ownership)http://www.efesonline.org/2007/Picture%20of%20European%20employee%20share%20ownership%20in... Employee Ownership Update for December 14, 2007- (Found June 29, 2008 ) NCEO Executive Director Corey Rosen discusses a new study finding that the repurchase obligation is not a main driver of ESOP terminations; a useful summary of proposed changes in taxing S ESOP synthetic equity in Rep. Rangel's bill; an innovative idea for bonuses; and a new article on five common errors in equity compensation plan design. (National Center for Employee Ownership)http://www.nceo.org/columns/cr243.html |