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Article: Local economy has big stake in future of Bi-Mart.(Business)
- Article from:
- The Register Guard (Eugene, OR)
- Article date:
- January 29, 2004
CopyrightCOPYRIGHT 2004 The Register Guard. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: RETAIL NOTEBOOK By Edward Russo The Register-Guard
It remains to be seen whether Bi-Mart becomes an employee-owned company; workers now are studying whether they want to use part of their retirement savings to buy the discount retailer under an employee stock ownership plan proposed by the current owners.
In the complex deal, the future ownership and direction of Bi-Mart are at stake, as well as some of the retirement savings of the more than 2,300 employees being offered the ESOP plan.
But the broader Lane County community has a sizeable stake in the future of Bi-Mart, too.
Big retail chains typically pull profits out of the ...