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Suggest questionEvery Monday, Loren Feldman and Gene Marks discuss the issues business owners should be monitoring. This week, Gene explains why Intuit’s purchase of Mailchimp is going to lead to you stop sending out your boring monthly newsletter. Plus: Are you still screening job candidates for drugs? Couldn’t the public companies that got PPP money have at least paid it back? And how technology is improving performance reviews.
About 21 Hats
The proponents of employee stock ownership plans can make them sound like the greatest thing ever. A business owner can take a big chunk of money off the table—or even all of it—while still getting to run the business. And there are some pretty great tax breaks. Oh, and it will also solve income inequality in America. On the other hand, if ESOPs are so smart, why are there so few of them?
Jim Kalb of Triad Components Group in San Diego and Jeff Taylor of Crafts Technology in Chicago have both implemented ESOPs. Jay Goltz of the Goltz Group in Chicago has reached his 60s without a succession plan, and he’s considering his options. In this 21 Hats Conversation, you get to listen in on a street-smart discussion of the pluses and minuses of ESOPs from the business owner’s point of view.