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33-632: Schreiber may refer to: Companies [ edit ] Schreiber Foods , a dairy company Schreiber Furniture , a furniture manufacturer in the United Kingdom T. Schreiber Studio , an acting studio in New York City, US Places [ edit ] Schreiber, Ontario , a township in Canada Walther-Schreiber-Platz (Berlin U-Bahn) ,

66-698: A German subway station Other uses [ edit ] Schreiber (surname) Paul D. Schreiber High School in Port Washington, New York, United States Polyura schreiber , a butterfly species Schreiber Diesels , an ice hockey team in Ontario, Canada Schreiber theory , a writer-centered approach to film criticism Schreibersite , a mineral Schreiber's fringe-fingered lizard Schreibers' long-fingered bat T. Schreiber Studio , an acting studio in New York City Topics referred to by

99-556: A cartel with other dairy companies to avoid competition when buying milk from Spanish farmers between 2000 and 2013. The farmers can now further sue for damages. Schreiber produces customer brand process , natural and cream cheeses and yogurt for restaurants, grocery stores and food service distributors. Schreiber is the United States' second-largest producer of cream cheese and one of the largest yogurt producers. Schreiber produces cheese slices that are used on cheeseburgers by 17 of

132-439: A distribution from the plan when they leave the company. They can roll the amount over into an IRA, as can participants in any qualified plan. There is no requirement for a private sector employer to provide retirement savings plans for employees. Some studies conclude that employee ownership appears to increase production and profitability and improve employees' dedication and sense of ownership. ESOP advocates maintain that

165-675: A loan, called a "leveraged ESOP", can provide a tax-advantaged means for the company to raise capital. According to a pro-ESOP organization, at least 75% of ESOPs are, or were at some time, leveraged. According to citing ESOP Association statistics as cited in. In addition, ESOPs can be attractive instruments of corporate succession, allowing a retiring shareholder to diversify the company of stock while deferring capital gains taxes indefinitely. Company insiders face additional conflicts of interest in connection with an ESOP's purchase of company stock, which most often features company insiders as sellers and in connection with decisions about how to vote

198-436: A plan specifically meant to be for retirement security. In contrast, they maintain that it may not be a serious problem for an ESOP or other options, which they say are meant as wealth-building tools, preferably to exist alongside other plans. Nonetheless, ESOPs are regulated as retirement plans, and they are presented to employees as retirement plans, just like 401(k) plans. ESOPs and 401(k)s are both retirement plans subject to

231-469: A result, were more likely to offer additional diversified retirement plans alongside their ESOPs. Opponents to ESOP have criticized these pro-ESOP claims and say many of the studies are conducted or sponsored by ESOP advocacy organizations and criticizing the methodologies used. Critics argue that pro-ESOP studies did not establish that ESOPs results in higher productivity and wages. ESOP advocates agree that an ESOP alone cannot produce such effects; instead,

264-547: Is different from Wikidata All article disambiguation pages All disambiguation pages Schreiber Foods Schreiber Foods was founded in 1945 when L.D. Schreiber, in partnership with Merlin G. Bush and Daniel D. Nusbaum, started the L.D. Schreiber Cheese Company with its original plant in Green Bay, Wisconsin. In 1950, Schreiber Foods opened a second cheese plant in Carthage, Missouri. Schreiber added two more plants in

297-535: Is that investors should diversify their investments across many companies, industries, geographic locations, etc. Moreover, ESOPs concentrate workers' retirement savings in the stock of the same company on which they depend for their wages and current benefits, such as health insurance, worsening the non-diversification problem. High-profile examples illustrate the problem. Employees at companies such as Enron and WorldCom lost much of their retirement savings by overinvesting in company stock in their 401(k) plans, but

330-607: The Employee Retirement Income Security Act (ERISA). While similar in some ways, the plans also have notable differences. These differences can form a strength: Businesses that offer both an ESOP and a 401(k), as 93.6 percent of The ESOP Association's members do, can offer the best of both plans to their employees. Because ESOPs are the only retirement plans allowed by law to borrow money, they can be attractive to company owners and managers as instruments of corporate finance and succession. An ESOP formed using

363-815: The 1970s in Logan, Utah, and Monett, Missouri. In 2000, Schreiber purchased the Beatrice Foods plant in Waukesha, Wisconsin. It closed that plant employing 170 in 2002. Schreiber purchased Pinnacle Cheese in Pittsburgh, Pennsylvania, in 2000. It closed the plant employing 100 in 2003. Schreiber purchased Raskas Foods in St. Louis, Missouri, in 2002. It closed the St Louis plant employing 220 in 2005, while maintaining plants in Texas and Pennsylvania. By

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396-527: The 250,000 employee supermarket chain Publix Supermarkets , Hy-Vee , McCarthy Building Company, WinCo Foods , environmental consulting firm Citadel Environmental Services, Inc., and Harpoon Brewery . Today, most private U.S. companies that are operating as ESOPs are structured as S corporations ESOPs (S ESOPs). According to The ESOP Association , a national trade association based in Washington, DC,

429-630: The ESOP must be combined with worker empowerment through participatory management and other techniques. Critics point out that no study has separated the effects of those techniques from the effects of an ESOP; that is, no study shows that innovative management cannot produce the same (claimed) effects without an ESOP. In some circumstances, ESOP plans were designed that disproportionately benefit employees who enrolled earlier by accruing more shares to early employees. Newer employees, even at stable and mature ESOP companies can have limited opportunity to participate in

462-559: The United States is a defined contribution plan, a form of retirement plan as defined by 4975(e)(7)of IRS codes, which became a qualified retirement plan in 1974. It is one of the methods of employee participation in corporate ownership. According to an analysis of data provided by the United States Department of Labor , there are approximately 6,237 companies in America with an ESOP. Notable U.S. employee-owned corporations include

495-514: The ability to make yogurt in these cities: Fullerton , Logan , Richland Center , and Shippensburg . Schreiber North American has a business office in this location: Bentonville . Schreiber South American locations have the ability to process cheese & natural cheese in this city: Rio Azul . Schreiber European locations have the ability to process cheese & natural cheese in these cities: Stonehouse, Gloucestershire , Hörbranz , Lindenberg , and Wangen . Schreiber European locations have

528-673: The ability to make yogurt in these cities: Sofia , Benešov , Castelo Branco , Zvolen , Noblejas , Santa Cruz de Tenerife , and Talavera de la Reina . Schreiber European locations have the ability to make various dairy products in these cities: Zvolen . Schreiber European location has a business office in this location: Madrid . Schreiber Asian locations produce various cheese & dairy products in these locations: Baramati , Fazilka , Kuppam . 44°31′01″N 88°00′46″W  /  44.51694°N 88.01278°W  / 44.51694; -88.01278 Employee Stock Ownership Plan An Employee Stock Ownership Plan ( ESOP ) in

561-453: The ability to process cheese & natural cheese in these cities: Carthage , Clinton , Green Bay , Logan , Monett , Mt Vernon , Shippensburg , Smithfield , Stephenville , Tempe , West Bend , and León . Schreiber North American locations have the ability to distribute in these cities: Carthage , De Pere , Fullerton , Logan , Richland Center , Shippensburg , Stephenville , and West Bend . Schreiber North American locations have

594-484: The company began to expand into products other than cheese, the L.D. Schreiber Company changed its name to Schreiber Foods Inc. in 1980. Then in 1999, Schreiber created an Employee Stock Ownership Plan (ESOP), turning ownership of the company over to all of its employees, or partners. In February 2024, the Spanish Audiencia Nacional fined Schreiber (formerly Senoble ) with 929,644 euros for forming

627-773: The company can choose to have the trust borrow money to buy stock (also known as a leveraged ESOP, with the company making contributions to the plan to enable it to repay the loan). Generally, almost every full-time employee with a year or more of service who worked at least 20 hours a week is in an ESOP. The United States ESOP model is tied to the unique US system encouraging private retirement savings plans and tax policies that reflect that goal. That makes it difficult to compare to other tax codes from other nations. Most private US companies operating as an ESOP are structured as S corporation ESOPs (S ESOPs). The United States Congress established S ESOPs in 1998, to encourage and expand retirement savings by giving millions more American workers

660-606: The end of 2000, six more were added to include additional operations in Missouri, Arizona and Wisconsin. Since then, they've expanded to include domestic plants in Pennsylvania, Texas, California and Utah, in addition to international operations in Austria, Brazil, France, Germany, India, Mexico, Portugal, Spain, Bulgaria, Czech Republic and Slovakia. In 1962, Schreiber sold the cheese operation to 13 employees, including Bush and Nusbaum. As

693-399: The federal government. Also, the study found that total output was equivalent to 1.7 percent of 2010 U.S. GDP. $ 93 billion (or 0.6 percent of GDP) came directly from S ESOPs, while output in supported industries totaled $ 153 billion (or 1.1 percent of GDP). In a U.S. ESOP, just as in every other form of qualified pension plan, employees do not pay taxes on the contributions until they receive

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726-455: The key variable in securing these claimed benefits is to combine an ESOP with a high degree of worker involvement in work-level decisions (employee teams, for instance). Employee stock ownership can increase the employees' financial risk if the company does badly. ESOPs, by definition, concentrate workers' retirement savings in the stock of a single company. Such concentration is contrary to the central principle of modern investment theory, which

759-764: The main form of employee ownership have considerably more in retirement assets than comparable employees in non-ESOP firms. The most comprehensive of the studies, a report on all ESOP firms in Washington state, found that the retirement assets were about three times as great, and the diversified portion of employee retirement plans was about the same as the total retirement assets of comparable employees in equivalent non-ESOP firms. The Washington study, however, showed that ESOP participants still had about 60% of their retirement savings invested in employer stock. Wages in ESOP firms were also 5-12% higher. National data from Joseph Blasi and Douglas Kruse at Rutgers shows that ESOP companies are more successful than comparable firms and, perhaps as

792-551: The most common reason for establishing an ESOP is to buy stock from the owners of a closely held company. Many closely held companies have little or no succession plan in place. As a result, the day a founder or primary shareholder leaves the business often results in significant adverse consequences for the company, the employees, and the exiting owner. ESOPs offer transitional flexibility that can facilitate succession planning. Founders and main shareholders can sell to ESOPs all of their shares at one time, or percentages of their shares on

825-494: The opportunity to have equity in the companies where they work. ESOP advocates credit S ESOPs with providing retirement security, job stability and worker retention, by the claimed culture, stability and productivity gains associated with employee-ownership. A study of a cross-section of Subchapter S firms with an Employee Stock Ownership Plan shows that S ESOP companies performed better in 2008 compared to non-S ESOP firms, paid their workers higher wages on average than other firms in

858-813: The presence of an ESOP itself causes any positive effects for companies or workers. One study estimates that the net US economic benefit from S ESOP savings, job stability and productivity totals $ 33 billion per year. A study released in July 2012 found that S corporations with private employee stock ownership plans added jobs over the last decade more quickly than the overall private sector. A 2013 study found that in 2010, 2,643 S ESOPs directly employed 470,000 workers and supported an additional 940,000 jobs, paid $ 29 billion in labor income to their own employees, with $ 48 billion in additional income for supported jobs, and tax revenue initiated by S ESOPs amounted to $ 11 billion for state and local governments and $ 16 billion for

891-422: The program, as a large portion of the shares may have already been allocated to longstanding employees. ESOP advocates often maintain that employee ownership in 401(k) plans, as opposed to ESOPs, is problematic. About 17% of total 401(k) assets are invested in company stock, more in those companies that offer it as an option (although many do not). ESOP advocates concede that it may be an excessive concentration in

924-557: The same industries, contributed more to their workers' retirement security, and hired workers when the overall U.S. economy was pitched downward and non-S ESOP employers were cutting jobs. Scholars estimate that annual contributions to employees of S ESOPs total around $ 14 billion. Critics say, however, that such studies fail to control for factors other than the existence of the ESOP, such as participatory management strategies, worker education, and pre-ESOP growth trends in individual companies. They maintain that no studies have shown that

957-414: The same term [REDACTED] This disambiguation page lists articles associated with the title Schreiber . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=Schreiber&oldid=992243695 " Category : Disambiguation pages Hidden categories: Short description

990-459: The schedule of their choosing. The transition in leadership, therefore, can occur as quickly or slowly as the owner wishes. Like other tax-qualified deferred compensation plans, ESOPs must not discriminate in their operations in favor of highly compensated employees, officers, or owners. In an ESOP, a company sets up an employee benefit trust that is funded by contributing cash to buy company stock or contributing company shares directly. Alternately,

1023-444: The shares of stock held by the ESOP but not yet allocated to participants' accounts. In a leveraged ESOP, such unallocated shares often far outnumber allocated shares for many years after the leveraged transaction. This is a timeline of significant events in the development of ESOPs as a financial instrument, as well as some of the key personalities involved in developing the basic concepts, laws and organizations related to ESOPs in

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1056-500: The specific companies were not employee-owned. Enron, Polaroid and United Airlines , all of which had ESOPs when they went bankrupt, were C corporations . Most S corporation ESOPs offer their employees at least one qualified retirement savings plan like a 401(k) in addition to the ESOP, allowing for greater diversification of assets. Studies in Massachusetts, Ohio, and Washington State show that on average, employees participating in

1089-923: The top 20 hamburger chains. Schreiber employs more than 9,000 people worldwide. It is headed by President and CEO Ron Dunford, Chairman Mike Haddad and CFO Chip Smoot. Chad Wiegand is the General Counsel. Ownership of the company was transferred to employees in the form of an ESOP (employee stock ownership plan) in 1999. The company is headquartered in Green Bay, Wisconsin . It has 12 United States production facilities in eight states: Arizona , Arkansas , California , Missouri , Pennsylvania , Texas , Utah , and Wisconsin ; five of these are distribution centers. There are also 12 international production facilities in 10 countries: Austria , Brazil , Bulgaria , Czech Republic , Germany , India , Mexico , Portugal , Slovakia , Spain , Schreiber North American locations have

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