SEOUL, South Korea — North and South Korea on Friday installed what officials said was the first-ever hotline between their top leaders, another sign of improving relations on the divided Korean Peninsula.
This success story is about two women who started with a small business that became a bigger business, which continues to operate right here in the USA. Their story might fit into the category of women's voices, but since it is about their company - a business built from the partnership of two women with imagination, inventiveness, ability, risk, and perseverance - I have put it into the business category.
Their story is about them and their underwear company that has become well known for making colorful thongs. They are now so successful that their company has recently implemented an employee ownership structure.
The entire article, along with some nice visuals via photography, is well worth reading, but due to length I am offering some excerpts.CreditCaroline Tompkins for The New York Times
The Thong That Changed Everything
In October, Hanky Panky’s employees — a significant portion of whom work at a 90,000-square-foot multiuse warehouse in Queens — discovered that they would soon be part owners of the company. At a party celebrating Hanky Panky’s 40th birthday, Ms. Epstein and Ms. Orzeck announced that the company had established an employee stock ownership plan, which transfers the ownership of the company over to a trust for the benefit of its workers.
In recent years, Ms. Epstein and Ms. Orzeck have scaled back their involvement in the company. “I’m not in the weeds the way I was the first 25 years,” Ms. Orzeck said. Why shouldn’t they take it a little bit easier after turning the thong into a classic cut, one that remains a staple in many drawers (despite what the millennials may have you believe)?
But despite handing over some of their ownership, they have no plans to leave. “Why would I retire?” Ms. Orzeck said. “This is still our baby.”