The Ohio Employee Ownership Center (OEOC) is an organization based at
Kent State University
Kent State University (KSU) is a Public university, public research university in Kent, Ohio, United States. The university includes seven regional campuses in Northeast Ohio located in Kent State University at Ashtabula, Ashtabula, Kent State ...
which provides employees of businesses in Ohio with resources for establishing
Employee Share Ownership Plan
Employee stock ownership, or employee share ownership, is where a company's employees own shares in that company (or in the parent company of a group of companies). US employees typically acquire shares through a share option plan. In the UK, Emp ...
s through worker buyouts of companies.
The organization's first effort was the attempted worker buyout of the
Atlantic Foundry Company from the Reymann family under the terms of an ESOP. However, a lawsuit brought by 125 foundry retirees seeking the resumption of health and life insurance benefits derailed the ESOP negotiations, and the plant closed in 1989. OEOC has since helped in successful efforts at ESOPs for such companies as
DimcoGray.
Worker-Owners and Unions
by Dan Bell
The organization has served as the inspiration for similar organizations which bring organized labor and cooperative federations together, such as the Prairie Labor-Worker Co-op Council (a collaboration between the Canadian Worker Cooperative Federation and Canadian Labour Congress
The Canadian Labour Congress, or CLC ( or ), is a national trade union centre, the central labour body in Canada to which most Canadian trade union, labour unions are affiliated.
History Formation
The CLC was founded on April 23, 1956, thro ...
).
See also
* U.S. Federation of Worker Cooperatives
References
{{reflist
External links
OEOC
Employee-owned companies of the United States
Kent State University
Economy of Ohio