Was just using PTL as a known example that claims employee owned, although I did work for them for a minute but pretty sure this was before they claimed employee owned crapped
Employee owned trucking company question
Discussion in 'Motor Carrier Questions - The Inside Scoop' started by trips74, May 27, 2023.
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My understanding is most employee owned companies, the employees own stock that is non- voting which degrades the value. Why would you want to own stock that has no rights. Scam, in my opinion.
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edit: after doing some research, I discovered that the IRS does consider an ESOP to be "an IRC section 401(a) qualified defined contribution plan". Therefore, I retract the statement I made immediately above this one.
source: Employee Stock Ownership Plans (ESOPs) | Internal Revenue Service
Last edited: May 29, 2023
Reason for edit: see edited contentkylefitzy Thanks this. -
I think Big G is another one of those employee owned places.
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