PISCATAWAY, N.J.--(BUSINESS WIRE)--The Institute for the Study of Employee Ownership and Profit Sharing at the Rutgers School of Management and Labor Relations, the world’s first academic institute dedicated to researching capital shares and their impact on the economy, today announced the recipient of the 2018-19 George S. Pillsbury Fellowship. Carla Ilten, a Ph.D. candidate in Sociology at the University of Illinois at Chicago, will study the support systems needed for employee share ownership.
Charlie Pillsbury established the research fellowship in honor of his father, George Sturgis Pillsbury (1921 – 2012), an early supporter of employee share ownership in his home state of Minnesota. George S. Pillsbury graduated from Yale University in December 1942 and enlisted in the U.S. Marine Corps during World War II. He later spent 24 years at The Pillsbury Company, rising to group vice president in the family grain business. He served in the Minnesota State Senate for 12 years and took a keen interest in policies on employee share ownership.
“George S. Pillsbury enthusiastically supported broader employee share ownership and he understood its relevance to addressing economic inequality,” said Joseph Blasi, the J. Robert Beyster Distinguished Professor and Director of the Institute for the Study of Employee Ownership and Profit Sharing. “George’s grandfather, Charles A Pillsbury, established a world-famous profit sharing plan at the Pillsbury flour mills in Minnesota in 1882. He also advised and supported a local employee-owned barrel industry, which produced shipping containers for the Pillsbury mills with local worker cooperatives. The Pillsbury family later introduced one of the first broad-based stock option plans.”
With the Pillsbury gift, Rutgers has awarded the George S. Pillsbury Fellowship to three promising young scholars:
- 2015-16: Sangoon Lee, Stanford University, studying Employee Stock Ownership Plans (ESOPs)
- 2016-17: Nicole Leach, Mississippi State University, studying worker cooperatives involving modest income women
- 2018-19: Carla Ilten, University of Illinois at Chicago, studying the support system needed for employee share ownership
“My father believed in universal capitalism,” Charlie Pillsbury said. “As a beneficiary himself of capital ownership, he thought that everyone should benefit from capital ownership, not just the very few.”
The Institute for the Study of Employee Ownership and Profit Sharing will announce the complete list of 2018-19 research fellows tomorrow, ahead of the annual Beyster Symposium starting June 24.
The Rutgers School of Management and Labor Relations (SMLR) is the world’s leading source of expertise on managing and representing workers, designing effective organizations, and building strong employment relationships.