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For Those Wanting A Good News Story

Marp2 — Fri, 24 Jan 2014 00:50:24 GMT

ASHEVILLE — The world’s largest hotel keycard maker became an employee-owned company on Thursday, a move that will shield it from some taxes and give its workers a chance to share in profits.

The owners of Plasticard Locktech International told the company’s 320 workers about the deal Thursday in a meeting at UNC Asheville.

Employees stand to profit if the company continues to be successful and the move to employee ownership will cost them nothing.

The company is buying its stock and putting it in a trust for the workers, said Peter Krauss, PLI’s chief of sales and marketing. Employees are fully vested in 6 years and can turn the stock into cash if they leave the company.

The stock allocation is based on pay and tenure, with those who have been there the longest getting more.

Workers learned Thursday that the company has been putting stock in the trust for them since last year. With the announcement at UNCA, they immediately became owners.

“It’s really like a 401k on steroids,” Krauss said.

http://www.citizen-times.com/article/20140123/NEWS/301230056/Asheville-key-card-maker-becomes-employee-owned?nclick_check=1

Re: For Those Wanting A Good News Story

dmod nj — Fri, 24 Jan 2014 01:21:32 GMT

Thanks for sharing that story, Marp. Will check out the link.

Re: For Those Wanting A Good News Story

rondell — Fri, 24 Jan 2014 06:32:32 GMT

What a great story! This really makes me feel good for these employees. A great company to work for, without a doubt. Thanks, Marp.

Re: For Those Wanting A Good News Story

mgm2 — Fri, 24 Jan 2014 06:35:01 GMT

yaaaaaaaay

Re: For Those Wanting A Good News Story

PIT-HAG Melissa — Fri, 24 Jan 2014 06:36:20 GMT

Yes..I would LOVE more of the positive stories!!

Re: For Those Wanting A Good News Story

Lila Belle — Fri, 24 Jan 2014 06:37:22 GMT

Ashville is a beautiful city. Isn't it called the SF of the South ?

This is a great story !

Re: For Those Wanting A Good News Story

Deb1010again — Fri, 24 Jan 2014 06:38:12 GMT

Great article, Marp! Thanks for sharing

Re: For Those Wanting A Good News Story

sylviahomeatlast — Fri, 24 Jan 2014 06:40:36 GMT

So absolutely wonderful for the employees

Re: For Those Wanting A Good News Story

Feline Fine — Fri, 24 Jan 2014 07:23:50 GMT

Awesome! Thanks, Marpy. 8)

Re: For Those Wanting A Good News Story

Yardlie — Fri, 24 Jan 2014 18:11:06 GMT

Wow...I never had an employer who was that thoughtful or concerned about the employees!