Product Description
by Darien A. McWhirter (Author)
Back Jacket
In 1993, more than eleven million workers hold an ownership stake in the companies they work for. Employee Stock Ownership Plans (ESOPs), stock purchase plans, trusts, stock options, cooperatives--employee ownership incentives are an increasingly commonplace benefit offered by modern corporations. Whether you're an employee who has been offered a stake in the company or an employer determined to understand how such plans will affect your business, Sharing Ownership is a comprehensive guide to the "howl" and "whys" of employee ownership incentives.
Sharing Ownership begins with a thorough explanation of the business, law, and accounting fundamentals that relate to ownership incentive plans. It examines taxation issues; discusses stock ownership as an investment option; defines and differentiates stocks, bonds, options, and dividends; discusses the valuing and repurchasing of shares; and examines pensions and employee benefit plans. It also explains why, given the choice between commissions, bonuses, and ownership incentive plans, ownership of the company you work for may be the most valuable investment you can make.
In Part Two, Sharing Ownership discusses the four basic types of ownership and their related securities and legal issues while it weighs each type's advantages and disadvantages. You will learn about stock purchasing, stock options benefit plans (such as profit sharing and Employee Stock Ownership Plans), and cooperatives.
The final section of Sharing Ownership focuses on ESOPs, the most common type of ownership incentive in the world today. You'll discover why these plans have proven to be the most successful experiment in increasing ownership for rank and file employees. You'll also get information on the history and uses of ESOPs, basic ESOP rules, creating new ESOPs, and accounting for ESOPs. Finally, you'll discover how an ESOP can help a company grow, provide employee benefits, guard against a takeover, improve corporate performance, and much more.
While many companies that offer employee ownership plans make a real effort to explain how these plans work, most fall short in their efforts--and most employees lack the background information that would make such explanations effective. Sharing Ownership fills the gaps in employee knowledge and provides employers with the information they need to make solid business decisions.
Author Biography
About the author
DARIEN A. McWHIRTER is an attorney and consultant specializing in employment law. He received his PhD in political science from Yale University and his JD from the University of Texas Law School. He has been general counsel for The National Center for Employee Ownership and editor of the Journal of Employee Ownership Law and Finance. He is the author of Your Rights at Work (Wiley), now in its second edition.
