"What I Do in Private Is My Own Business" makes an important point: for many companies, public ownership means the end of the long-term, growth-oriented posture they can take as a private company. As attractive as not having to respond to the short-term profit demands of shareholders can be, owners of privately held firms do need to find a market for their ownership interest.

Thanks to recent changes in the tax law, an employee stock ownership plan provides a means by which a company can use pretax dollars to buy out its owner.