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Suggest questionEvery Monday, Loren Feldman and Gene Marks discuss the issues business owners should be monitoring. This week, we talk about how car dealers are profiting despite the chip shortage, the dangers of depending on a platform like Facebook, a possible CRM game-changer, and the many questions that remain to be answered about President Biden’s vaccine mandate. For example, are businesses subject to the mandate if they have 100 employees but the employees all work from home?
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.