Russel Long got the idea of ESOPs from Louis Kelso, who wrote something with a title like Capitalist Manfesto. ESOPs were never intended to be socialist.
As Joel mentioned, they have usually been used to prop up lemons, although some employers used it for the tax benefits. -- Michael Perelman Economics Department California State University Chico, CA 95929 Tel. 530-898-5321 E-Mail [EMAIL PROTECTED]
