The second picture
includes Jeff Gates who wrote the tax legislation for
Senator Russell Long that introduced tax incentives
to
promote ESOPs. The picture was taken in Beijing on
April 23rd, 1991 when Jeff led a three man
delegation to the PRC as
shown in the picture to
introduce employee ownership as a means for privatisation. In the previous year Jeff had visited
Eastern Europe to introduce leverage share ownership
plans as a privatisation technique. However, Jeff
discovered that
leveraged ESOPs had little relevance in
countries that lacked either taxes or sources of
funding. For this reason he invited
me to the PRC to
introduce my approach that did not require tax
incentives or funding as described in my book as it
depended upon introducing what I now describe as
“ecological” ownership.
The ten day series
of lectures for around 50 “Cadres” from throughout the
PRC was hosted by the State Commission for
Reform of the
Economic System. Those pictured from left to right are:
Paul Kouris, General
Counsel to Californian based employee owned Science
Applications International Corporation (SAIC);
Shann Turnbull,
author of Democratising the Wealth of Nations
whose alternative title was New Money Sources and
Profit
Motives as featured on its cover partly
covered by the hand of:
Professor Jiang
Yiwei, author of "From Enterprise-Based Economy To
Economic Democracy"
Jeff Gates,
delegation leader and counsel to Senator Russell Long.
I was introduced to Jeff Gates,
Norman Kurland and other leading promoters of
Employee Share Ownership Plans in
Washington D.C. by
John McClaughry when he was in the White House as
President Regan’s Domestic Policy advisor
and also
Chairman of the E.F. Schumacher Society! In the
picture I am wearing a “Jefferson” tie presented to
me by
John who like Jefferson lives in a log cabin.
&
Picture
above & caption below from & by SHANN TURNBULL Ph.D
The third picture is of myself circa 1983, with Senator
Russell Long,*
who championed Kelso and ESOPs as Chairman of the
US
Senate Finance Committee.
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*Russell
Long had been widely recognized as the second (to The
President) most powerful leader of the United States
when he
became first
acquainted with, and finally a solid supporter of Louis Kelso and his economic theory
and philosophy.
Norman Kurland, a long time stalwart
ally of Louis Kelso, vividly recounts a crucial meeting
between Mr. Kelso and
Senator Long on November 27, 1973
in the link below. (Note by Harold Channer.)
http://cesj.org/thirdway/history3rd/kelsomeetslong.htm
Long term associate of Louis O. Kelso
