Quote:
Originally Posted by suesiegel
I must admit that I've never heard of ESOP so I looked it up. Employee Stock Ownership Plan applying an alphabet to it does not change my point. Investing your retirement in the place you work I not a good financial plan. As I said the only place to sell your stock is back to the company.
You objected to the ENRON analogy that really does not change what I have said. I do not know anyone who worked for ENRON. I do know people who worked for KODAK.
People at Publix do see happy and I wish them well. You might be interested that ALDIS and LIDL discount German grocers are both expanding into this territory. Then you have AMAZON going into groceries. There will surely be tighter margins for grocery stores.
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Well, clearly you did not read the article linked by Boomer. Here is another opportunity to read it.
Retire as a millionaire, college degree not required
Stock in the company is a
GIFT which
the employees receive at no cost. Details at the linked article.
The employees are not "investing their retirement in the place where they work." There is a separate 401(k) retirement plan with employer match.
Look at the benefits for
all employees, understanding that there are more benefits for other specialized areas.
Core Benefits for
All Eligible Associates
Employee stock ownership plan that contributes Publix stock to associates each year
at no cost to them
An opportunity to purchase additional shares of our privately held stock
Annual holiday cash bonus
All hourly associates are paid weekly
401(k) retirement savings plan with a company match
Group health plan (with prescription benefits)
Group dental plan
Group vision plan
Free flu shots
Direct deposit in up to three separate checking or savings accounts
Credit union membership
Tuition reimbursement
Service awards
Employee assistance program
Opportunities for advancement
Opportunity to participate annually in a survey to let management know your opinion on a wide range of workplace quality issues.