[Congressional Record Volume 163, Number 77 (Thursday, May 4, 2017)]
[Senate]
[Page S2772]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                        TRIBUTE TO CINDY TURCOT

 Mr. SANDERS. Mr. President, today I wish to recognize Cindy 
Turcot and congratulate her on her term as the chair of the ESOP 
Association. Cindy has been committed to advancing the employee 
ownership model in Vermont and around the country. For the last 2 
years, Cindy served as chair of the association, working to promote the 
interests of employee stock ownership plan, ESOP, companies across the 
country.
  In my State of Vermont, we have seen firsthand the many benefits that 
employee ownership can bring to businesses and employees. Study after 
study has shown that employee ownership has been proven to spur 
employment, increase productivity, grow sales, and raise wages. 
Importantly, data from the General Social Surveys from 2002 to 2014 
shows that employee-owned companies have layoff rates that are four to 
eight times less than conventionally owned companies.
  Cindy has been a vital ally in the efforts to expand broad-based 
employee ownership and bolster middle-class jobs in our communities. As 
chair, Cindy advocated for the ESOP business model and the benefits of 
employee ownership all across the country. I know many in the employee 
ownership community are so appreciative of Cindy's energy, motivation, 
and empowerment. Over the last 2 years, Cindy dedicated much of her 
time and energy to expanding broad based employee ownership to help 
create a sustainable economy that benefits all of us.
  In addition to her work as chair of the ESOP Association, Cindy 
serves as board treasurer of the Vermont Employee Ownership Center. 
VEOC has provided numerous Vermont companies with assistance in 
transitioning to employee ownership, and Cindy has been a crucial 
resource in those efforts. As we continue to work together to help the 
employee ownership model realize its true potential, I know Cindy will 
continue to be an invaluable partner. 

                          ____________________