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From Home Furnishing Business

Steve Silver Honored as Innovative ESOP

Casual dining and occasional table supplier Steve Silver Co. has been named one of the most innovative employee stock ownership plans in the U.S.

Joining the ranks of companies like Southwest Airlines, Publix Supermarkets and New Belgium Brewing Co., Steve Silver was awarded the Excellence in Ownership Innovation Award from the National Center for Employee Ownership at its annual meeting in Atlanta.

The NCEO noted Steve Silver's use of business processes and practices that led to superior company performance.

“Steve Silver Co. is distinguished by outperforming its industry in both revenue growth and profitability during one of the worst markets the furniture industry has ever experienced,” said Michael J. McGinley, vice president of Prairie Capital Advisors, a third party company that provides valuation services to about 230 ESOP-owned companies nationwide.

Steve Silver, president of the company, and David Corbin, COO, were in Atlanta to receive the award.

"Our goal is a company where all employees think and act like business owners," Silver said. “We may be a young ESOP, but we now have more than 200 employees focused on Steve Silver Co. quality, processes and improvements to meet our customers’ changing needs. As a result, our opportunity for success is limitless.” 

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