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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 he’s changed his mind about the president’s vaccine mandate. Plus: how smaller businesses can compete with Amazon’s $3,000 signing bonus—and get the government to pay for it. How some restaurants take advantage of their tipped employees. And are we finally done with business cards?
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.