Hannibal Industries’ employees celebrate collectively owning their company
More than 75% of Hannibal Industries employees are now 100% vested within the company.
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Baltimore suing ship that crashed into bridge, closing port, costing jobs Intermodal growth volume remains intact in March, reports IANA Descartes announces acquisition of Dublin, Ireland-based Aerospace Software Developments Amid ongoing unexpected events, supply chains continue to readjust and adapt Shipment and expenditure decreases trend down, notes Cass Freight Index More NewsAs Hannibal Industries celebrates its 6th anniversary as an Employee Stock Ownership Plan (ESOP) company, it has announced that more than 75% of its employees are now 100% vested.
Since its first full year as an ESOP in 2009, Hannibal Industries’ sales have increased by 20.4% and the company has also expanded internationally.
“Our company has come a long way since becoming an ESOP and we owe that to our dedicated employee-owners,” said Hannibal Industries president Blanton Bartlett. “They are driven and committed to grow and excel with the company.”
According to esop.org, “ESOP companies grow 2.3% - 2.4% faster after setting up their ESOP. ESOP companies that practice participative management grow 8% to 11% faster with ownership plans per year than without it.” The website continues, “ESOP employees make 5% to 12% more in wages and have almost three times the retirement assets compared to workers in comparable non-ESOP companies.”
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Baltimore suing ship that crashed into bridge, closing port, costing jobs Intermodal growth volume remains intact in March, reports IANA Descartes announces acquisition of Dublin, Ireland-based Aerospace Software Developments Amid ongoing unexpected events, supply chains continue to readjust and adapt Shipment and expenditure decreases trend down, notes Cass Freight Index March trucking tonnage trends down, reports ATA FTR Shippers Conditions Index enters negative territory More LogisticsSubscribe to Logistics Management Magazine
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