Entrepreneur Lorraine Wardy had already retired once when she entered the portable sanitation business. After running a surf shop for five years, she started a women’s sportswear and apparel manufacturing company, running it from 1985 to 2000, when she retired. But she soon got restless, and in 2001 purchased Sarabia’s Portable Jons in El Paso and built that business. Now she’s ready to retire again. But instead of selling out to a new owner, Wardy decided to sell it to her employees through an employee stock ownership plan (ESOP). In an ESOP transaction — regulated by the U.S. Department of
