Stuff like this is why I think giving employees stock is a horrible way of doing employee ownership. Stocks are not equitable.
Instead of personal stock ownership the business should be owned collectively through a democratic association where every employee had a right to participate and vote at the general assembly, either by the "one man, one vote" or the "one hour of labour, one vote" principle.
that’s funny, i worked for a company that was majority employee owned and this was the case. nearly all of the stock was owned by a handful of middle managers and that ownership was not extended to “regular” employees.
This is similar to what I experienced in an ESOP. The CEO was a giant asshole and no one could apparently do anything about it because he and his key supporters apparently owned enough shares to not give a shit about the rest of the company. It was pretty far from anything resembling a workplace democracy.
I buy this shit all the time and 100% assumed the "employee owned" tag was total bullshit. This is good to hear!
But also two things to keep in mind:
Consumer choices != politics
Posting an article from the company website is a bit dubious. I'd be curious to hear about any criticisms.
The biggest critique I’ve heard is that stocks are not completely equitable in distribution but that’s still better than most
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Stuff like this is why I think giving employees stock is a horrible way of doing employee ownership. Stocks are not equitable.
Instead of personal stock ownership the business should be owned collectively through a democratic association where every employee had a right to participate and vote at the general assembly, either by the "one man, one vote" or the "one hour of labour, one vote" principle.
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This is similar to what I experienced in an ESOP. The CEO was a giant asshole and no one could apparently do anything about it because he and his key supporters apparently owned enough shares to not give a shit about the rest of the company. It was pretty far from anything resembling a workplace democracy.
deleted by creator