11/23/98: The National Center for Employee Ownership's Employee Ownership Update for November 22, 1998, reports on a new survey showing that global equity plans for multinational corporations are on the increase. Additionally, the update comments on how an ESOP company is dealing with its workers' temptation to leave due to a huge increase in its stock value. Excerpt:
Kelly said that a few people have left early to
get their distributions. The second ESOP will not
start repurchasing shares until the loan is repaid
eleven years from now, which Kelly hopes will
encourage people to stay. Other companies have dealt
with this problem by arranging for in-service
partial distributions so that people can get access
to some of their money earlier.
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