Friday, February 19, 2010

Bob Gives Away His Company

Read an interesting story in the Oregonian yesterday about the owner of Bob's Red Mill, the supplier of organic flaked oats used in our No Doubt Stout and a few other recipes.

Seems that at the ripe old age of 81, Bob Moore decided to give away his company, founded in 1978 and worth an estimated $80 million, to his 209 employees. This is possible by way of an ESOP, the employee stock ownership plan that is a retirement plan in which the company contributes its stock to the plan to be held in trust for the benefit of its employees. Good old Bob!

The story was also covered on NPR's "Marketplace", where it can also be downloaded.

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