As of January 1, 2013, the supermarket, Lueken's Village Foods, will change ownership. Joe Lueken, the current owner, received many significant offers from large supermarket chains who wanted to take over his two locations in Bemidji, Minnesota and Wahpeton, North Dakota. Mr. Lueken has owned and managed the Lueken's for 45 years. At 70, he is ready to move on to world travel and time with family. Thus, time to sell. Or, maybe time to give.
Instead of accepting one of the bids, Mr. Lueken, decided to pass ownership to his 400+ employees via an ESOP (employee ownership stock plan). Raised during the Great Depression, Mr. Lueken said his parents emphasized the dictate to "do the right thing." He added that, "My employees are largely responsible for the success I've had, and they deserve to get some of the benefits of that. You can't always take. Sometimes you have to give back."
And, since it's just on the cusp of December, the epitomous month of giving (and, honestly, it's not all puppy dogs, bubble gum and ESOP, also getting and taking), Mr. Lueken's generosity seems like a story (and store) worth sharing.
Life sometimes can be ESOP.
ESOP--noun
a plan under which a company's capital stock is acquired by its employees or workers
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