Bob Moore-big hearted capitalist shared wealth with workers


Bob Moore handed over Food Company to employees


An American Businessman Bob Moore has transferred his food company to employees Bob’s Red Mill Natural Foods in MILWAUKIE-Oregon-USA.  The company was founded in 1978. The company’s annual revenue is estimated around $50 million. The company has 209 employees that will now become the owners of the company. The company is now in transition to become employees owned company.
Capitalist are generally known for their lust for profits and money. They produce goods and services to earn maximum profits. But Bob Moore is not like the rest. He has decided to hand over his food factory to his workers. 
The 81 years old businessman set example for other businessman to follow. On his 81st birthday- he announced his plan to handover the company to employees. The workers who were there to celebrate his birthday were surprised to get a memorable birthday gift from Bob.
 
Moore, whose mutual loves of healthy eating and old-world technologies spawned an internationally distributed line of products, responded with a gift of his own -- the whole company. The Employee Stock Ownership Plan Moore unveiled means that his 209 employees now own the place and its 400 offerings of stone-ground flours, cereals and bread mixes.
An employee stock ownership plan, or ESOP, is a retirement plan in which the company contributes its stock to the plan to be held in trust for the benefit of its employees. The stock is never bought or held directly.

Vested employees are sent annual reports detailing their respective stakes in the company. When those employees quit or retire, they receive in cash whatever amount they -- and the company, through increased revenues, new sales and controlled costs -- are due.
"Eventual payouts could be substantial," said John Wagner, the company's chief financial officer and, along with Moore, one of four partners. Moore said he began thinking about succession about nine years ago. He'd heard about employee stock option programs and got much more serious about the idea three years ago.
"In some ways I had a choice," Moore said of what he could have done with the company he founded with his wife, Charlee, in 1978. "But in my heart, I didn't. These people are far too good at their jobs for me to just sell it."
It's not that the offers aren't there. Hardly a day goes by that Nancy Garner, Moore's executive assistant, doesn't field a call or letter from someone wanting to buy the privately held company or take it public.
Moore's own background is in electrical and mechanical engineering, but he fell in love with the mechanics of stone grinding in the 1960s after reading about old stone-grinding flour mills.
At about the same time, Charlee began sharing with him her delvings into the nutritional benefits of eating whole grain foods. The couple put their passions to work by starting, with their three sons, their first milling operation in Redding, Calif.
In 1978, the couple moved to Portland to retire. Moore's idea at the time, reflecting his long-held sense of spirituality, was to learn the Bible in its original languages. A chance walk past a closed mill site near Oregon City changed everything.
"I call it my emotional epiphany," Moore said. "Whatever excuse I care to give, I was just sucked into it like a vortex."
1988 arson destroyed the mill, when Moore was 60. Undeterred, he rebuilt the operation, moved once due to space needs and now occupies a 15-acre production facility and a two-acre headquarters and retail outlet along Oregon 224 in Milwaukie.
Three production shifts, running six days a week, turn out a line of goods distributed throughout North America, Asia and the Middle East.
The company earned an extra splash of international recognition when a team traveled to Scotland and, apparently feeling their oats, won the world's porridge-making championship.
                                                          Khalid Bhatti

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