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Ky-based Paschall Truck Lines sells 100 percent of stock to employees
Reported by: Associated Press
Reported: Saturday, November 2, 2013 9:16 AM EST
The president and CEO of a trucking company in southwestern Kentucky plans to sell 100 percent of his company stock to his employees.
Waller told the Murray Ledger & Times he's now an employee with a long-term contract and thoughts on how to build and grow the company.
Paschall Truck Lines?currently has 1,384 employees between its facilities in Murray, Ky., Franklin, Tenn., West Memphis, Ark., Indianapolis, El Paso, Texas, Brownsville, Texas and Laredo, Texas.
Waller's stock sale is made possible through an Employment Stock Ownership Plan, a method several companies have undertaken the past several years.
Information from: Murray Ledger & Times, http://www.murrayledger.com