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The ESOP owned automated driverless truck company

October 10, 2016
  • Trucking company borrows capital to purchase automated driverless trucks and vans, many trucking companies allow their employees and subcontractors to own more than one vehicle (which they drive) This ESOP would eventually become 100 % ESOP owned with leased trucks from the human drivers. What would be the legality of unemployed drivers owning an ESOP?
  • could the ESOP incorporate a permeant unemployment benefit as a benefit?
  • possibly the answer is that the drivers would report to work at least 1 hour per week to remain employees under ERISA and many states allow long term partial unemployment.
  • We could incorporate state laws on public benefit for profit incorporation laws to bolster our unemployed truck driver ESOP

The ESOP is a leveraged one so the cash flow from the loans would buy automated driverless tractor trailers. The ratio of 10 driver leased trucks per employee over time means that the company grows its fleet aqnd over time all former employees would own the number of trucks to make a living without working or using the ESOP and the driverless trucks to create a guaranteed income.This philosophy could be written for the public benefit for-profit corporation goals.

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