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11 May

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GRAND RAPIDS, MI. Crystal Flash transitions to a 100-percent employee owned company joining other Michigan-based ESOP-owned businesses

May 11, 2016 | By |

GRAND RAPIDS, MI.  Crystal Flash transitions to a 100-percent employee owned company joining other Michigan-based ESOP-owned businesses

Following a two-year preparation process, Crystal Flash has successfully transitioned to a 100-percent employee-owned company.

The Grand Rapids-based fuel distribution company’s roughly 250 employees purchased Crystal Flash in late April from longtime owner and Chairman Tom Fehsenfeld via a leveraged employee stock ownership plan (ESOP).  ESOPs provide shares to employees in a benefit plan.  The shares are held in trust until those workers leave the company.

Read full article and Mike Harden’s comments here…

Craft Breweries – April 4, 2016 – San Diego Business Journal

April 4, 2016 | By | No Comments

The nation’s craft beer companies brewed 24.5 million barrels in 2015, according to figures recently reported by the Brewers Association trade group, besting the prior year’s production by 13 percent as retail sales grew by 16 percent, reaching $22.3 billion. Craft’s share in retail dollars is now at 21 percent of the U.S. beer market, and the industry nationwide continues its role as a job-creating juggernaut. Small and independent brewers added more than 6,000 workers in the past year, bringing the nationwide craft workforce to nearly 122,000.

Read the full article here.