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Wintrust Financial Corp. has acquired Macatawa Bank in a $510.3 million deal, giving Wintrust a physical presence in the West Michigan market. The acquisition will allow Wintrust to offer new financing options, such as employee stock ownership plans and capital equipment leasing, as well as peer-to-peer Zelle services for digital payments. Wintrust plans to expand further in Michigan, with the management team at Macatawa Bank leading the way. The goal is to avoid customer disruption during the integration process and to build on the strengths of Macatawa Bank and the Grand Rapids community. [Extracted from the article]

Private jet management firm Corporate Eagle has transitioned into an employee-owned company through an employee stock ownership plan (ESOP). Under the ESOP, each of the approximately 100 employees will receive shares based on their years of service and salary rate, accumulating more ownership as they advance within the company. The deal involves buying out the founder, chairman, and CEO, Rick Nini, and eight other shareholders. Nini will remain as the company's top executive for four years until the shareholder loans are paid down to 20% of the total loan. The decision to implement an ESOP was made to protect the employees and provide continuity for the company's future growth. Corporate Eagle currently operates a fleet of 17 jets and generated $66 million in revenue in 2023. ESOPs have historically shown positive outcomes, including higher job retention, pay, workplace safety, and retirement savings for employees. [Extracted from the article]

To help expand voter turnout, employers should make sure their staff has time to vote on Election Day. Companies that encourage their employees to take part in local elections, including for mayor, can help to drive up community investment, making the neighborhoods where they do business places where staff want to come to work and that attract prospective talent. [Extracted from the article]

Haviland Enterprises Inc., a family-owned company based in Grand Rapids, Michigan, recently transitioned to a 100-percent employee-owned business using an employee stock ownership plan (ESOP). The company, which has been in business for nearly 80 years and has 275 employees, implemented the ESOP to provide liquidity to the family while maintaining the company's culture, legacy, and operations, and to reward the employees for their contributions to the company's success. Dividing a family business effectively requires the assistance of professionals such as attorneys, financial advisers, and CPAs specializing in stock options. Conducting a feasibility study and having a certified business appraiser valuate the company are important steps in the process. Other methods of sharing ownership with employees include restricted stock units (RSUs) and stock options. These methods can incentivize, motivate, and retain employees, as well as encourage them to pay more attention to the company's bottom line. The decision of whether to sell all stock to employees or share ownership depends on various factors, such as control over the company and the purchase price for family and nonfamily employees. Once a plan is chosen, it is important to execute it carefully, as it is difficult to reverse. [Extracted from the article]

Cleveland's CW Industrial Partners has acquired Mantaline, an extruded elastomeric products company. Mantaline, which was previously employee-owned, will now partner with CW Industrial Partners to utilize their industrial expertise and drive growth. CW Industrial Partners has a portfolio of nine other industrial companies and aims to use Mantaline's existing expertise to further expand. Both parties are optimistic about the partnership and the potential for long-term success. [Extracted from the article]

Oscar expects to incur a stock compensation noncash charge of about $46 million in the first quarter of this year as a result of Schlosser and Kushner canceling their founders agreement. Mario Schlosser will transition out of his role as chief executive of insurance company Oscar Health effective April 3, the company reported last week. [Extracted from the article]

BDO retained Stout, a global investment bank and advisory firm, and law firm McDermott Will & Emery to help lead the transition to an ESOP. Chicago-based accounting giant BDO USA announced its intention to establish an employee stock ownership plan, or ESOP, which would make it one of the largest professional services firms in the country to make the move. [Extracted from the article]

The article looks at the rising compensation of senior executives, notably those from the U.S. healthcare industry. Salaries for top-level healthcare executives rose annually by about 4 percent in 2007. For executives who have held their positions for more than a year, the increases were between 4 and 5 percent. The implications of salary disclosure policy and rewarding stock options and restricted stocks on the amount of CEO compensation are also discussed.

Reports on the challenges faced by human resource professionals in coping with the weakening of employee stock options in the U.S. as of January 2003. Alternatives for employees if stock options have been included as part of pay packages; Attempts to regulate the use of stock options; Consequences in the failure to regulate employee stock options.

Deals with the benefit plans offered in companies for temporary and permanent employees. Problems associated with employee benefit plans; Conditions under the Employee Retirement Income Security and Information Act; Information on employee stock options.

Provides information on how to deal with employees' stock options. Views from the human resources professionals and consultants; Issues that a company must consider before granting stock options to employees; Tips from the book `Stock Options: Beyond the Basics,' published by the National Center for Employee Ownership.

Discusses the benefits of employee stock-ownership plans. Varieties of employee-ownership programs; Benefits of the long-term focus of ownership; Experiences of various companies which engaged in ownership cultures.

Even with the growing number of employees becoming stockholders, data on the list undersells the amount of Davey Tree stock held by employees. The plan to turn thousands more employees at The Davey Tree Expert Co. into owners is working. [Extracted from the article]

TESLA BUILDING "UNIQUE" NEW FACILITY IN SOUTHFIELD THE NEWS: Southfield officials have signed off on Tesla Inc. opening what is being described as a unique EV research, testing, repair and maintenance facility. DEVELOPER PLANS TOWNHOME PROJECT NEAR GRAND RAPIDS THE NEWS: An Indiana real estate developer plans to build a sprawling townhome community in suburban Grand Rapids. DETROIT UNEMPLOYMENT RATE HITS 22-YEAR LOW THE NEWS: The city of Detroit's unemployment rate is the lowest it's been since September 2000, according to the U.S. Bureau of Labor Statistics. [Extracted from the article]

The pandemic appears to have permanently altered the way we work, and this year's top places to work reflect those changes. Hybrid work spaces are the norm, with the overwhelming majority of companies offering employees the option to work wherever they want, whenever they want. "What works for us is to treat everyone as individuals, and to value what each person brings every day to work", says Randy Green, executive chairman of First Bank Chicago, one of Crain's top companies. [Extracted from the article]

The top job at Ziebart International Corp. will stay within the same family after the current president and CEO stepped down. Thomas A. Wolfe, 53, took over as company president and CEO on March 3 as his father, Thomas E. Wolfe, 77, stepped down as leader of the Troy-based automotive aftermarket franchiser after 28 years at the helm. [Extracted from the article]

The article reports on the lower-than-expected growth projections and call to overhaul the corporate pay practices of UnitedHealth Group. Chairman and CEO William McGuire proposes to stop awarding new equity-based grants to most senior executives. A lawsuit was filed against the insurer for backdating stock option grants. Its shares had declined to about 19% since January 2006.

Reports on the importance of employee stock ownership plans (ESOPs) in the restructuring of the healthcare delivery system. Reasons why ESOPs are attractive; Similarities between ESOPs and tax-qualified retirement plans; Investment in employer securities; Lender rewards; Tax advantages. INSET: Using an ESOP to acquire physician practices or clinics...

Comments on the practice of giving stock options as rewards to employees in the United States. Views of compensation consultant Alan Johnson; Stance of managers wishing to share the wealth to hard working employees; Popularity of awarding stock options to employees; Impact of stock option plans on employee performance.

The article profiles New York City-based advertising and marketing firm Simulmedia Inc., which offers stock-option plans for its employees.

The article focuses on the employee retention strategy used by Cooperative Home Care Associates (CHCA). A mixture of training, support for personal and family issues, and workers' ability to buy a share in the company has decreased CHCA's turnover to 25% a year in an industry with an average rate of 40% to 50%. CHCA sets up one-on-one, sessions to help workers find solutions for lack of child care, adequate transportation or a home.

The article presents information about Peter Kann, CEO of Dow Jones & Co. Kann got a hefty raise last year, even though net income at his company tumbled by 42% to $99 million. Meanwhile, Dow Jones' stock fell, continuing a dismal trend over the past five years that has seen its value drop by half while a peer group index has risen by 18%. Despite it all, Kann's cash compensation rose 22% last year. He got $1.8 million in salary and bonus, plus an options grant worth 88,000 shares that increased his total package to $4.3 million.

Presents a chart on underwater option strategies for employee stock options in the U.S. Advantages of the underwater option strategies; Disadvantages; Conditions when the strategies are appropriate.

Reports business developments as of August 2002 in New York City. Resignation of Salomon Smith Barney telecommunication analyst Jack Grubman; Decision of the Lower Manhattan Development Corp. to extend the design competition for the World Trade Center site; Financial services firms agreed to expense employee stock options.

Discusses the significance of the tax code to personnel management in the United States. Role in the popularity of stock options; Other impact of the tax code on the workplace.

Gives advice to employees on the right time to exercise stock options. Factors to consider before exercising stock options; Discussion on stock management.

Presents a survey by the consulting firm Watson Wyatt Worldwide which reveals that the number of United States employees eligible to receive stock options increased in 1999. Details on the survey; Forecast on employee stock options.

Focuses on a survey by Pearl Meyer & Partners which reveals an increase in stock options share for human resources (HR) executives, chief executive officer, chief finance officer and chief legal officer of companies in the United States. Value of pay packages for HR executives.

Reports that CBS Inc. has revealed in stockholder proxy that its president and chief executive officer Mel Karmazin realized a $195 million gain when he exercised 10-year-old stock options in 1998.

Reports that CBS Inc. will replace its traditional pension plan with a `cash balance' pension program that allows its employees to participate in a stock-option plan.

Focuses on the announcement of the United Parcels Service (UPS) that it is extending the opportunity to purchase UPS stocks to all part-time employees with at least one year of service. Response of the UPS employees to the first phase of stock purchase opportunity; Information about the founding of UPS in 1907; Number of employees of the company.

Looks at the profitability of 500 stock options given to employees at Chemical Bank. Value of the options; Views of Ken Herz, a spokesman for the bank, Chase Manhattan.

Reports on Time Inc.'s alteration of its employee stock ownership program (ESOP) in the face of declining company earnings. Aim of having annual contributions be solely determined by the financial results of the publishing unit; Performance of parent company Time Warner Inc. as basis of the ESOP program.

The article features marketing agency Dix & Eaton chief financial officer (CFO), Jim Brown, who is a finalist in the journal's 2016 CFO of the Year award in the private/medium company category. Also cited are Brown's role as the firm's corporate secretary and treasurer, his programs at the company like the Employee Stock Ownership Program (ESOP), and the comment by chief executive officer (CEO) Chas Withers on Brown.

The article focuses on the stock option controversy at the electronics parts maker Molex Inc. Molex admitted of misdating the timing of options and stock awards to its executives. According to market analysts, the dates were selected in a pattern that gave maximum benefit to the holders of stock options. The option dates are under investigation from both the U.S. Department of Justice and the U.S. Securities and Exchange Commission.

The article highlights the reasons to extend ownership of workers in the U.S. industries. The article cites some examples to support this view. The president of Ameripay Payroll Ltd. in Elk Grove Village is already thinking about the employee stock ownership plan he hopes to set up in several years. Bruce Haines, the former president of Sternberg Lighting Inc. in Niles, had agreed to sell his company to a competitor. Whatever the timing, most entrepreneurs who dole out equity see it as a reward for employees.

Focuses on the plans of United Airlines Inc. chief executive Rick Dubinsky to offer employee stock option plans (ESOP) to resolve a worsening labor-management relationship at the company. Reaction of the labor union members at the company; Strategies for implementing the plan.

Reports the declination on the salary of chief executive officers (CEO) in Detroit, Michigan. Impact of the lack of extra income earned from stock options; Lists of the top 50 highest-paid CEO; Inability of the CEO to maximize stock.

Focuses on the employee retention programs implemented by companies in Chicago, Illinois. Accounts of the stock options and retirement plans offered by CDW Computer Centers Inc. on employees; Importance of incentives and flexible work schedules on employee retention; Role of companies in achieving employee satisfaction.

Reports that the Cleveland, Ohio-based Voss Industries Inc. has formed an employee stock ownership plan. Implementation of the desire of the late company founders, Marianne and William Voss by children Marsha and Jay; Commitment to the Ohio City neighborhood; Contracts secured by the firm.

The article suggests chief executive officers (CEO) in Chicago, Illinois to invest in their company stock. Executives with stock investments include Stefano Pessina of holding company Walgreens Boots Alliance, Joe Mansueto of mutual fund Morningstar and Edward Lampert of Sears Holdings. It shows the median ownership multiple at local firms including that of Discover Financial services CEO David Nelms, and suggests steps for corporate boards to make stock ownership requirements meaningful.

The article focuses on modifications that are required in a company's recuitment policies and employee benefits package that will attact the new generation better known as millenials. Topics include entrepreneurial work and profit-sharing, wealth creation, ownership, Instant Alliance, a staffing firm that specializes in technology and accounting hires, company contribution. Todd Berger, CEO of Transportation Solutions Enterprises, discusses on various plans adopted to motivate the employees.

The article reports that Ace Hardware Corp. store owners are complaining about a change to their profit sharing and questioning whether executives plan to convert the cooperative into a privately held corporation. Executives at Ace's Oak Brook headquarters told store owners that the board of directors decided to change the cooperative's profit-sharing structure, which in the past provided members with an annual mix of cash, stock and notes.

The article reports that billionaire Sam Zell has agreed to loan Tribune Co. $225 million and pay $90 million for a warrant that gives him the right to purchase its 40% stake. Chairman Gregory Meyer of Tribune has stated that the deal is beneficial for Zell unless Tribune continues to flounder. Tribune's employees will have a new employee stock ownership plan (ESOP) as a result of the deal.

The article focuses on Interpublic Group of Cos. chairman-CEO Michael Roth, and what his severance pay will be if the company is sold. He could get a payment equal to three years' pay. If there is a change in control, he could cash in stock options. The company gave senior executives stock options when Interpublic's stock was at a low.

The article reports that United Airlines Inc.' chief executive officer Glenn Tilton would receive 545,000 restricted shares and 822,000 options, about 1 percent of the $1.9 billion in equity United plans to issue, after the company exits bankruptcy protection next month. An agreement late last week between United and its unsecured creditors paved the way for the likely approval of the carrier's reorganization plan at Wednesday's Chicago Bankruptcy Court hearing.

This article reports that since Sears Holdings Corp.'s Chairman Edward S. Lamper engineered the merger of Sears and Kmart Corp. in March 2005, Sears' director Julian C. Day has exercised options to sell $145 million in stock after buying the shares for about $13 million. Day exercised options to buy 983,317 shares of Sears at $10 to $20 each and sold them at prices between $120 and $155.50 each. Shares of Sears have dropped about 12% since Kmart took over Sears, Roebuck & Co. in March 2005. Day's stock options expire in October 2006.

This article reports that new accounting rules aimed at giving investors a clearer picture of costs for executive pay packages require companies to expense stock options in 2006 for the first time. An analysis by the firm Credit Suisse First Boston shows that at least 30 big companies in Chicago, Illinois, will see their earnings in the year 2006 fall. The accounting rule, prompted by oversized options packages in the dot-com era, is already changing company behavior. Motorola Inc., Tribune Co. and others are scaling back pay packages.

This article reports that Visteon Corp.'s chairman and chief executive officer Mike Johnston and executive vice president James Palmer received stock awards in the second week of September 2005 as part of the supplier's incentive plan. Johnston received 200,000 restricted stock units that will vest in two years and 100,000 stock appreciation rights with an exercise price of $10.395. Palmer received 100,000 restricted stock units, half of which will vest in a year, the rest in two years.