ESOP Books

ESOPs are a boon or a boondoggle to a company. This book is thorough in the research involved in considering, completing and sustaining an ESOP. It is must reading for the owner considering an ESOP and for ESOP employee/owners. It clearly defines the pros and cons for the pre-ESOP owners, for the post ESOP majority owners and for the post ESOP minority employee/owners. Well researched, well written book. Very dry and technical, however, that is the nature of the subject.

This is the most complete resource that I have seen compiled on the subject of employee stock option tax planning. The content is arranged in an easy to follow format. This book is a great compliment for anyone that makes employee stock option planning part of their practice.

Collaboratively written by Ron Bernstein, David Binns, Marshal Hyman, and deftly edited by Martin Staubus, Transitioning Ownership in the Private Company: The ESOP Solution examines leveraged employee stock ownership plans (ESOPs) as a means of allowing employees to purchase and own a corporate divestiture or a production plant or facility chosen for closing by the parent company. Examining the tax benefits, empowerment benefits for employees, usefulness, and facilitation of ESOPs, Transitioning Ownership In The Private Company is a carefully researched, superbly presented, and thoroughly "user friendly" information guide and reference. Simply put, Transitioning Ownership In The Private Company is a "must-read" for anyone involved in or considering an ESOP solution in acquiring a private company, plant, or facility.

Phil Smiths courages book about the Betrayal of Weirton Steel is heartbreaking.
National Steel was one of the greatest Steel companys to work for in the 50's60's and 70's.
Most of my Uncles and cousins had a great life,with secure pay and early retirements.
Everyone thougth Esop would save the company,and for awhile it looked like it was,with profit sharing checks,and growing pay,untill the betrayal of the management hit the fan.

Wow! I was shocked. This book lays bare the terrible things that happened through greed and corruption. I guess I am just naive, but I cannot believe people have gotten away with these things. We need better checks and balances throughout businesses.

I found Philip Smith's book to be a factual, detailed, and data-driven account of a promising company (and town) wrecked by unadulterated personal greed. While I have never met Mr. Smith, I do know several of the principles named in the book and Mr. Smith describes them accurately and honestly.

The book is a fascinating look at the behind-the-scenes behaviors of senior management. Unfortunately, it is not all that clear what lessons can be taken away from the event. Honesty and fair-dealing cannot be injected into scoundrels like a vaccine. And when a majority of board members decide to loot the corporation for their own gain, what can realistically be done?

I do know that the aftermath has been devastating to Weirton, and its future is very uncertain. And after living there during the glory days, it is very strange to come back and see the devastation that has become my little town.

I have always been suspicious of books that seem to spring from the author's need to settle a grudge against a person or organization. This book reminds me why. Its somewhat shrill and patently one-sided arguments do not do justice to the subject at hand. While I'm sure that there are kernels of truth in this account, I believe that the topic would be best served by a more objective approach.

This story broke my heart. My family has served at Weirton Steel for over three generations from the ranks of the hourly to the in-house engineering staff, to the management team. The account of Phil Smith has been known for a while, but this is the first time I have seen it in print. Hopefully, business students will take these events to heart to prevent a future tragedy such as this.

This is a cliff's note version to a complicated area of law, which can be read during a short cab ride. It does not go into detail on any particular issue and instead is merely a general overview. If you know enough to want to read about ESOPs, then this book will not quench your thirst for knoweldge on this subject.