Friday, June 22, 2007

An ESOP tale from Maryland

Readers of this blog are coming back to re-visit ESOP info posted here and here. The following is from a story in yesterday's The Daily Record about a Maryland-based company that is held by an Employee Stock Ownership Plan "Selling the Benefits of Ownership". It's worth the read.

The recent annual shareholders’ meeting at Macfadden, a Silver Spring-based contractor that works primarily with the federal government, had the feel of a company retreat.

The conference room was packed and guests talked and laughed while they networked before a presentation by President/CEO Russ Hall. In a group exercise, participants pretended to be geese in a flock, a process designed to highlight the virtues of teamwork and leadership.

Hall highlighted company financial information and described Macfadden’s 2006 performance, but the meeting was longer and more detailed than many other companies’ stockholder events. After all, these weren’t just shareholders; they were also employees.

(end of post)

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