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Some call it,
"Tracks in the sand." Others, "Legacy." The question we all face, "What
difference did my life make in this world?"
Dr. J. Robert
Beyster is leaving one heck of a legacy. First, the business that he began as a
dream in 1969 now employs over 41,000 people. Think of all the mouths they
feed! Think of all the taxes they pay. Think of all the creativity that is
focused on common goals! That is a legacy.
But he didn't stop
there. He saw something early in the power of ownership and then saw that power
transform people and create a vehicle for consensus and growth. He so wanted to
share this light -- show others the path -- he started a not-for-profit
research and teaching institute to encourage others in the area of employee
ownership. And, he funded it all with part of his ownership of SAIC. Wow. Now,
that is a legacy.
Topic for
Discussion: Why are there so few businesses that have adopted the
employee-ownership model?
Answer:
There are not many more than 10,000 businesses with a formal ESOP in place.
There are other kinds of employee stock-ownership plans, but it is still far
from the majority of employees. Some would conclude that it must not be very
compelling. But if the facts be known, the ESOP concept is a relatively new
idea. Louis Kelso is given credit for working on fleshing out the ideas. There
are links to that entire history in our Overview. He began his work in the
1950's and it wasn't until 1973 that Kelso influenced Congress to take it
seriously.
You think about
it: Would it be a good idea to try to learn from one of the big guys who
started out little?
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