Bill Woodard

Employees at Coastal Craftsmen Aluminum Inc. had plenty of reasons to cheer following the decision of its founder Bill Woodard to sell the company to them through an Employee Stock Ownership Plan.According to the St. Petersburg Times, the decision was a fitting tribute to the dedication and loyalty exhibited by the staff since the firm's inception twenty years ago.It also provided the founder with his most preferred choice for exiting the company given he wished to move on to new projects yet ensure the firm remained a going concern.

The club funded its efforts with $20,000 from its coffers and $7,000 in donations from a local benefactor who requested anonymity and from the employees and owner Bill Woodard of Coastal Craftsmen Aluminum in Hudson, Parris said.