Organizational leadership sets the standard for ethical conduct in the workplace. Christianity’s “Golden Rule” was used by William H. (Bill) Carris, owner of the Carris Financial Corporation (CFC), as the central ethical principle in his Long Term Plan (UP), describing the transition to 100% employee-ownership and governance…
In this paper, we take on a seemingly very simple set of empirical questions that we hope will shed light on whether employee ownership of firms ‘works’…
A rapidly expanding entrepreneurial company, the Carris firm is—by its owner’s design—gradually becoming an employee-owned and-directed organization…
Employee Stock Ownership Programs (ESOPS) have long been promoted as a motivational tool: employees become profit-minded owners. Latterly, however, more ESOPs are being used as part of a takeover defense: here, the ESOPs main purpose is to put more company stock in friendly hands – the employees – who, like existing management, could suffer layoffs, ect. in a hostile takeover.
This article analyzes the emergent role of employees as a key shareholder group. The authors discusses four major drivers of the trend: tax incentives, decreased vulnerability to takeover, human resources management, and employee motivation.
In 1994 United Airlines became the largest employee majority-owned enterprise in the United States, with various groups of employees – most represented by unions – having purchased 55% of its stock in exchange for various concessions. The employees accepted pay cuts and made other concessions, but were also granted representation on the company’s board of directors…[newline]
Cisco Systems, specializing in network systems that link computers and provide Internet communications, was founded in 1990. Employee compensation is closely tied to company and individual performance through stock ownership and profit-sharing, and performance is focused on customer satisfaction. Cisco has grown mainly by acquisition, always trying to stay ahead of the next best technological … Read More
For several years, William H. (Bill) Carris (President and CEO) looked for ways to bring employees into the business. From the beginning Michael (Mike) Curran (Vice-President and COO) had been not in favor of implementing short-term incentives at that time. But having worked with Bill for 20 years, Mike knew when Bill’s mind was set on proceeding…
This article identifies several key factors as mediating links between employee ownership plans and organizational effectiveness: the initiator’s purpose of the employee ownership plan; perceptions of ownership; level of participative decision-making systems; and organizational culture.
Colt Industries is a conglomerate that is considering undertaking a leveraged recapitalization.
This book that has, since 1992, become the primer for open-book management, a new method based on the concept of democracy, the spirit of sports, and the reality of numbers.
Relationships of employee equity in the company with work attitudes, information, and desired influence were examined in a prosperous firm converted to employee ownership by its management.