Page 17 - THE SOUTH CHINA BUSINESS JOURNAL
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part of the recently- “Not every company, not every owner… aspires to go
announced Project for Growth public, but we want to remove any barriers that might
and Opportunity (Project GO), exist to that,” Sen. Todd Young (R-Ind.) said. “IPOs
the U.S. Chamber of Commerce is provide the prospect of enormous growth, innovation,
working to help private companies and the creation of jobs at all income levels. It’s not just
go public earlier — so that Main individual stock owners that benefit from the creation
Street investors, not just traders — and success of public companies… Our firefighters,
reap the rewards. our police officers are vested in pensions that grow on
account of public company growth.”
Over the last two decades, the
number of public companies in the According to Tom Quaadman, executive vice
U.S. has declined by roughly 50%, president of the U.S. Chamber Center for Capital
and the initial public offering (IPO) Markets Competitiveness, government and
market is a fraction of what it was corporations both have roles to play in helping private
in the 1990s. Public companies companies go public earlier and stay public.
historically have been a key driver
of growth and job creation, but “For one, the Securities and Exchange Commission
the decline in IPOs has significant (SEC) can help by continuing to implement reforms
long-term implications for our that make the public company model more attractive
economy and the financial health to growing businesses and should collaborate with the
of all Americans. business community on how to help more households
share in the success of American free enterprise,”
“This is a problem for every Quaadman said.
American, because for so many
Americans their retirement is tied Quaadman cited Intuit as a public company that is
to 401Ks and investments in the spreading the benefits of being publicly-traded more
markets,” Terry Campbell, vice widely, including to rank-and-file employees. Every
president of global government Intuit employee is eligible for equity grants, including
relations at Nasdaq, said at a stock options and restricted stock units. Intuit also
meeting launching Project GO. offers an employee stock purchase plan that allows
“And as these companies refuse to workers to contribute a percentage of every paycheck
go public for longer — or they don’t to purchase company stock at a discount.
go public — the ability for 401Ks to
capture growth is very limited.” As the company continues to succeed, its employees
have a long-term interest in seeing it do well — and
These days, companies tend to stand to profit.
go public after they are already
mature and able to handle the legal “Companies that are already public can step up by
and other complexities involved making sure their workers benefit by issuing employees
with taking a private company long-term equity incentives in order to align incentives
public. Given the restrictions in with long-term company performance,” Quaadman
place preventing individuals from said. “Allowing employees to share ownership in the
investing in private companies, companies for which they work not only increases job
it is often wealthy insiders or satisfaction by creating a sense of ownership, it creates
investment institutions that benefit, a more productive and successful workforce.”
not regular investors or workers at
those companies. Moving forward, the U.S. Chamber will report
progress on this issue and other proposed Project
It’s an issue that has caught the GO initiatives, which combine real-world business
attention of policymakers on Capitol solutions supported by practical public policy.■
Hill as well.
South China Business Journal 14
announced Project for Growth public, but we want to remove any barriers that might
and Opportunity (Project GO), exist to that,” Sen. Todd Young (R-Ind.) said. “IPOs
the U.S. Chamber of Commerce is provide the prospect of enormous growth, innovation,
working to help private companies and the creation of jobs at all income levels. It’s not just
go public earlier — so that Main individual stock owners that benefit from the creation
Street investors, not just traders — and success of public companies… Our firefighters,
reap the rewards. our police officers are vested in pensions that grow on
account of public company growth.”
Over the last two decades, the
number of public companies in the According to Tom Quaadman, executive vice
U.S. has declined by roughly 50%, president of the U.S. Chamber Center for Capital
and the initial public offering (IPO) Markets Competitiveness, government and
market is a fraction of what it was corporations both have roles to play in helping private
in the 1990s. Public companies companies go public earlier and stay public.
historically have been a key driver
of growth and job creation, but “For one, the Securities and Exchange Commission
the decline in IPOs has significant (SEC) can help by continuing to implement reforms
long-term implications for our that make the public company model more attractive
economy and the financial health to growing businesses and should collaborate with the
of all Americans. business community on how to help more households
share in the success of American free enterprise,”
“This is a problem for every Quaadman said.
American, because for so many
Americans their retirement is tied Quaadman cited Intuit as a public company that is
to 401Ks and investments in the spreading the benefits of being publicly-traded more
markets,” Terry Campbell, vice widely, including to rank-and-file employees. Every
president of global government Intuit employee is eligible for equity grants, including
relations at Nasdaq, said at a stock options and restricted stock units. Intuit also
meeting launching Project GO. offers an employee stock purchase plan that allows
“And as these companies refuse to workers to contribute a percentage of every paycheck
go public for longer — or they don’t to purchase company stock at a discount.
go public — the ability for 401Ks to
capture growth is very limited.” As the company continues to succeed, its employees
have a long-term interest in seeing it do well — and
These days, companies tend to stand to profit.
go public after they are already
mature and able to handle the legal “Companies that are already public can step up by
and other complexities involved making sure their workers benefit by issuing employees
with taking a private company long-term equity incentives in order to align incentives
public. Given the restrictions in with long-term company performance,” Quaadman
place preventing individuals from said. “Allowing employees to share ownership in the
investing in private companies, companies for which they work not only increases job
it is often wealthy insiders or satisfaction by creating a sense of ownership, it creates
investment institutions that benefit, a more productive and successful workforce.”
not regular investors or workers at
those companies. Moving forward, the U.S. Chamber will report
progress on this issue and other proposed Project
It’s an issue that has caught the GO initiatives, which combine real-world business
attention of policymakers on Capitol solutions supported by practical public policy.■
Hill as well.
South China Business Journal 14
