NY / NJ Center for Employee Ownership Opens at Rutgers University

Dec 7, 2017 | Timothy L. Stewart

Last month, NJTV News (PBS) interviewed Bill Castellano, Executive Director of the New York / New Jersey Center for Employee Ownership, which is part of Rutgers University’s School of Management and Labor Relations.

Mr. Castellano explains that the Center has been established to help address the “silver tsunami” of business founder retirement. In particular, 50% of the privately-held companies in the United States are held by individuals age 50 or older. Accordingly, there will be a transition of these businesses over the next 10-20 years, and Mr. Castellano and the Center are advocating for many of those owners to consider selling their businesses to ESOPs.

About The Author

Image of Timothy L. Stewart

Tim is President & Managing Partner of DeWitt. He is also a partner in the Greater Milwaukee office specializing in Employee Stock Ownership Plans (ESOPs) and Employee Benefits. He can be reached at 262-754-2869.

View Author Info


One of the best features about our website articles and blog entries is that they are timely—you get up-to-date information on the law as it exists at the time. The downside is that the law changes, but our older entries don't. That means we can't guarantee you are getting the most current law when reading through past entries. Please don't take these articles and blog entries and rely on them as legal advice. Give us a call instead, for specific and pointed advice for your particular situation. Note that contacting us does not create an attorney-client relationship, unless you are accepted as a client of the firm.