Employees at pray Construction now partial owners of company

From: The State Journal | Date: June 11, 2001| Author: | Copyright information

ST. ALBANS - One of West Virginia's best-known construction companies is changing hands - sort of.

Pray Construction Co. is transforming from a closely held corporation into a partially employee-owned (ESOP) company.

Founder David Pray said the decision was based largely upon the need to hold on to good employees.

By offering his key employees an ownership stake in the company, Pray said it ties those employees to the company and gives them a sense of belonging that doesn't exist in a purely owner-employee relationship.

And, he said, it provides a whole new level of involvement and relieves ...

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