CA Business Owners Spread Wealth By Selling Their Companies To Their Workers

Raton, a town once surrounded by eight coal mines, now has a main street of boarded-up buildings. There is reason for optimism as the town diversifies its local economy, betting on "a mix of small manufacturing businesses, health care and specialty services, and hospitality for travelers" to endure the sudden decline in mining revenue. Its calculated revitalization may hold lessons for other towns.

In Jackson, Mississippi, a series of community-led cooperatives are creating opportunities for affordable home ownership. This is part of a trend across the country to create community land trusts. They are financed through donations, other community businesses, or commissions. Though each land trust faces hurdles, they are collectively allowing more access to wealth and ownership in historically low-income neighborhoods.

Flexibility allows employees to “work smarter and better.” The productivity payoffs of offering part-time hours and remote work outweigh the administrative costs of such policies, according to a study in Australia.

Redeveloping and repurposing unused real estate provides a path toward economic revitalization. With a combination of public and private grants, the nonprofit group, International Sonoran Desert Alliance (ISDA), has purchased and redeveloped real estate in the town of Ajo, Arizona. The renovated town plaza and Curley School complex contain retail spaces, artist studios, and even house community gardens of the Ajo Center for Sustainable Agriculture.

Europe's generous social policies, such as allowing employees to retain their salaries while taking sick time to care for themselves or family members, may help to mitigate the coronavirus outbreak while also safeguarding the economy. Although the long-term impacts are yet unknown, in the short term, government-provided incentives are helping people and businesses stay afloat.

After an initial shock to business-as-usual, some independent booksellers are trying new methods to get their products in the hands of readers. Home deliveries, online sales, and fundraising efforts are keeping some longstanding institutions afloat, at least for now.

Mobile home owners in Colorado are beginning to own their own communities due in part to legislation that is making it easier to do so. Resident-owned communities preserve the affordable housing stock, which manufactured home communities make up a large percentage of.

As building developers in Kenya design new structures that are more environmentally friendly and sustainable, they can look to the Garden City Mall in Nairobi as a successful example. This mixed-use development with shopping, residential, and office spaces uses solar energy, which helps cut energy costs by over 30 million shillings each year. The mall also was the first in the region to receive an international green building certification.

Two insurance companies, Discovery and Dialdirect, implemented a smartphone app for drivers to report potholes in their city. The companies then fill the potholes and brand them with their logos.

To help more private-sector employees save for retirement—and hopefully reduce future needs for public safety net programs—more states are launching automatic IRA programs that enroll employees who don’t have access to a retirement plan through their employer. In Colorado, more than 70,000 workers have been enrolled so far.