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Conference
Overview Location: Champlain College, Burlington, VT
 Veda Ferlazzo Clark Employee ownership means different things to different people. How can employee-owned companies and those transitioning to employee ownership decide what it means for them? How do you determine what the rights and responsibilities of employee ownership will be in your company? Because there is a great diversity of views on this subject, it’s important to discuss it openly and encourage participation from all employees. Veda Ferlazzo Clark, president and CEO of Litecontrol Corp., will explore ways in which companies can do just that. She’ll also discuss how EO companies can manage for growth within the employee-ownership framework. About the Speaker: Veda Ferlazzo Clark is president and CEO of Litecontrol Corporation, the leading independent manufacturer of linear architectural fluorescent lighting fixtures in North America. Veda joined Litecontrol in 1987 as vice-president of marketing and new product development. Litecontrol started its ESOP in 1999, and became 100% employee-owned in 2007. Before joining Litecontrol, Veda was a general management consultant, working at such companies as Harbridge House, The Forum Corporation, and the American Management Association. Her areas of specialization included performance appraisal systems, sales training, and change management within an organization. She has a Bachelor of Arts from Goucher College and a Masters in Business Administration from Boston University. Veda also serves on the Board of Directors for Wikoff Color, an employee-owned company in South Carolina, and on the Board of Trustees for the Massachusetts Taxpayers Foundation. Workshop Descriptions Legend: E = ESOP employee owners C = Co-op employee owners N = Newcomers interested in learning more about employee ownership Session A 1. An Introduction to Employee Ownership: Why, What, How? (N) Presented by Steve Magowan of Steiker, Fischer, Edwards & Greenapple Start here if you want to learn about the basics of employee ownership, and why it might make sense for your company. You’ll learn about Employee Stock Ownership Plans (ESOPs), worker co-operatives, and other ways to structure a company to give employees a stake in their future. 2. Your ESOP and You (E) Presented by Alex Moss of Praxis Consulting, with Suzanne McDowell of King Arthur Flour Company This session will provide a plain English explanation of how an ESOP works, the basics of valuation, rights of ESOP participants, and ESOPs and retirement planning. We’ll hear how King Arthur Flour Company presents this material to its employee-owners. 3. Social Responsibility and the Employee Ownership Movement (E, C, N) Panel discussion with Christina Clamp of Southern New Hampshire University, Jeff Clark of Chroma Technology, and Steve Voigt of King Arthur Flour Company; moderated by Will Patton of Vermont Businesses for Social Responsibility One of our panelists, searching for social responsibility at home, will discuss internal practices in the employee-owned company he works for. Another will discuss a recent effort to align his company with others that aim for social and environmental sustainability. We will also hear about the Mondragon network of cooperative businesses that support each other in myriad ways. 4. Coping with Growth in Worker Cooperatives (C) Presented by Newell Lessell of the ICA Group, with Dunbar Oehmig of Red House Building and Rodney North of Equal Exchange This session is designed primarily for members of established co-ops. How does growth change life within a co-op? How can decision-making be handled more efficiently, without sacrificing inclusiveness? When is the right time to move to an elected board or to bring outsiders onto the board? How do the roles of co-op member, manager and board member mesh with each other? 5. ESOP Sustainability: What is it and How is it Achieved? (E) Presented by Peter Paquette of Claremont Flock Corporation How can an ESOP company remain employee-owned for the long term? This session will explore the legal and financial issues faced by established ESOPs, and consider how the intention to remain employee-owned affects these. Session B 6. Transitioning to an ESOP (N) Presented by Steve Magowan of Steiker, Fischer, Edwards & Greenapple and Alex Moss of Praxis Consulting This session will help attendees learn the steps entailed in creating an Employee Stock Ownership Plan. We’ll also discuss how to design a plan that will maximize employee participation. Attendees will leave with a complete roadmap for starting and managing an ESOP at their company. 7. Renewing the Spirit of Employee Ownership (E, C) Panel discussion with Sherry Ceresa of Gardener’s Supply Company and Wayne Churchill of Hypertherm, Inc.; moderated by Mike Shea of Praxis Consulting This session will explore ways to rejuvenate the spirit of employee ownership, both in ESOPs and worker cooperatives. The panel will also discuss ways to structure your company to motivate new and existing employees to participate to the fullest. 8. Leading an Employee Owned Company (E, C, N) Panel discussion with Veda Clark of Litecontrol Corporation, Paul Millman of Chroma Technology, and Steve Voigt of King Arthur Flour Company; moderated by Jack Davidson of Trust Company of Vermont Managing an employee-owned company has its own unique demands. This panel discussion will explore the ways in which upper management can inspire and energize those who work under their leadership. 9. Balancing Act: Short- and Long-Term Rewards in ESOP Companies (E, C, N) Panel discussion with Don Miller of Berlin Steel Construction Company, and Peter Paquette of Claremont Flock Corporation; moderated by Cindy Turcot of Gardener’s Supply Company How do employee-owned companies strike the right balance between salary levels and retirement benefits? How much emphasis should be placed on additional benefits like 401(k)s and profit-sharing? How can new employees be included in a mature ESOP in as fair a way as possible? 10. Demystifying Co-ops (C, N) Presented by Newell Lessell of the ICA Group, with Rodney North of Equal Exchange and Dunbar Oehmig of Red House Building This session will give an overview of how to create a worker cooperative from scratch or from an existing business. We’ll hear from two successful and growing companies that are demonstrating every day that the democratic worker co-op structure is a viable business model in today’s competitive marketplace. Session C 11. Financing an ESOP (N) Presented by Mary Josephs of Bank of America, Joe Marx of the Principal Financial Group, and Bob Massengill of SES Advisors Where does the money come from to finance an ESOP transaction? Designed for company owners and the professionals who serve them, this session will explore the various ways to finance an ESOP. 12. Basics of Business Valuation (N) Presented by Terry Griswold of Empire Valuation and Ray Hogue of Hogue Business Valuations A third-party appraisal of a company’s worth is advisable for most ownership transitions. For ESOPs, they’re required annually. This workshop will provide an introduction to the criteria used to determine the value of a business. It will also cover the various approaches to an ESOP valuation. 13. The Marketing Edge: How to Leverage Employee Ownership (E, C, N) Panel discussion with Kate Guerrina of Chroma Technology, Rodney North of Equal Exchange, Chris Quinn of Red House Building and Susan Reid from King Arthur Flour Company; moderated by Christina Clamp of Southern New Hampshire University Once you’re an employee-owned company, how do you draw on that fact to attract new customers and new employees? This session will explore how to use employee ownership as a marketing tool – both internally and externally. 14. Inclusive Decision-Making (E, C, N) Participants will include Karin McGrath and David Fitz-Gerald of Carris Reels, Mike Sessions of Pizzagalli Construction Company, and Mike Shea of Praxis Consulting; moderated by Alex Moss of Praxis Consulting. Governance and decision-making practices vary considerably among employee-owned companies. This workshop will highlight different models of decision-making and governance, with an in-depth look at the approach taken at Carris Reels. Directions and Parking The conference will be held in the IDX Student Life Center on the Campus of Champlain College in Burlington. From I-89, take exit 14W and proceed on Route 2 West (becomes Main Street) over the hill toward downtown Burlington. Turn left onto South Willard St. (Route 7). The IDX Student Life Center is located at 262 South Willard Street just south of Maple Street. Parking is available free in the Champlain College parking lots and on the street. Look for the parking signs on South Willard and Maple Streets. Click here for a detailed map.
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