Since 1947, the employees of the Milwaukee Journal (circ. 333,171) have also been its majority stockholders, owning 55% of the newspaper. Last week plans were completed to sell 75,000 more shares to the "permanent" (more than five years) employees. The new stock, purchased from the estate of the Journal's onetime business manager (and later publisher), Lloyd Tilghman Boyd, will boost employee ownership to 67½%. To date, the Journal's 831 employee-owners have paid $3,325,920 for stock that has paid $6,516,000 in dividends, is now worth $8,187,300.
...
To continue reading:
or
Log-In
