Store experiments with ESOP model
When asked to explain the advantages of a store being owned by its employees, Doug Smith, CEO of Port Angeles, Wash.-based Lumber Traders, put it this way: “Where else would you find entry-level employees working in the lumberyard who actually care about profits and losses?”
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Lumber Traders decided on an ESOP when the owners decided to sell. Pictured is Angeles Millwork and Lumber.
October 6, 2008
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