Esop Forever

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AuthorHouse, Sep 28, 2008 - Business & Economics - 264 pages
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ESOP FOREVER is a book about success. It is a book that is not only designed to help an ESOP-owned company achieve sustainability, (the continuation as an ESOP-owned company), but also to help it achieve success and greatness! This book discusses a wide range of sustainability challenges and solutions, as well as best practices for ESOP-owned companies. The term ESOP stands for employee stock ownership plan. A key emphasis within the book is the need for an ESOP-owned company to develop a Long Range Strategic Financial Plan. The book outlines a step-by-step approach for the development of such a plan. A very key process in the development of such a financial plan is a modeling methodology entitled Interactive Modeling. The purpose of Interactive Modeling is to tie together, in a very systematic manner, a companys repurchase obligation study and its financial projections. The book builds upon the concepts presented chapter by chapter. One chapter explains why the repurchase obligation should generally not be a problem for those companies that create and execute a sound Long Range Strategic Financial Plan. The book also addresses certain ESOP myths and a wide range of best practices for an ESOP-owned company. Comments from Book Contributors and Associates This book does an excellent job of walking through the planning process, especially with its emphasis on the need to understand the mutually dependent relationship between the repurchase obligation and a companys other financial parameters. Luis L. Granados, III, Attorney McDermott Will & Emery Washington, DC We have basically executed the Interactive Modeling process that Tom King has described in this book, and we believe in theprocess. We believe in the need to develop a Long Range Strategic Financial Plan. Mark Danisewicz Chief Financial Officer American Systems Corporation Chantilly, VA

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About the author (2008)

Thomas G. (Tom) King is the president of King Financial, Inc.  Prior to starting King Financial, Inc., he was a partner with Deloitte & Touche, where he enjoyed a very successful twenty-nine-year career.  While at Deloitte & Touche, he served as an accounting and audit partner, and a strategic financial consultant for many companies in a variety of industries.  Mr. King’s current primary interest is strategic financial planning for ESOP companies and assisting companies in utilizing an ESOP as part of an exit strategy.

 

Upon leaving Deloitte & Touche, he also joined the board of American Systems Corporation and became its vice chairman.  During his nine-year tenure with American Systems Corporation, the company grew from a $65 million company to a $275 million company, with profits and stock value more than quadrupling.  The company also became 100% ESOP-owned, and paid off all of its original ESOP debt during this period.

 

In addition to dealing with ESOP companies in a hands-on manner, Mr. King has attended numerous seminars and conferences on ESOPs and employee ownership.  Mr. King loves ESOPs.  Based upon Mr. King’s extensive ESOP background, along with his deeply tenured business background, he sincerely hopes to help ESOP companies achieve success and greatness.  Hence his book ESOP FOREVER.

 

Mr. King is a member of many professional associations, including the Professional Services Council, AICPA, Maryland Association of CPAs, NCEO, The ESOP Association, along with numerous other civic and professional organizations.  He holds a B.S. degree from the University of Maryland.

 

Mr. King resides in Maryland with his family.  His primary hobby is raising cattle and farming.  He currently owns and manages three separate farm locations of more than 400 acres in Maryland, near Washington DC.  He also enjoys skiing, travel, and all types of family activities.

 

 

 

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