Finally, owners are returning to the scene in Corporate America ("Relationship investing," Cover Story, Mar. 15) to demand accountability and long-term performance. There is another group of patient investors that may soon be stepping up to the table to ask for representation: employees.

In a review of the SEC filings of all public companies listed on our three major stock exchanges, Rutgers University researchers Joseph Blasi and Douglas L. Kruse found that 1,000 of these 7,000 companies have significant employee ownership (more than 4%). In our experience, employee-owned companies that involve employees in management decisions benefit from employees' long-term viewpoints and diligent efforts to help streamline operations and cut costs.

Peggy Walkush

Foundation for Enterprise

Development

La Jolla, Calif.

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