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REI in particular is a member owned consumer cooperative.
by dllthomas 11y ago
REI in particular is a member owned consumer cooperative.
- hackuser 11y agoI meant, I don't know if my description of some company's practices regarding their "members" applies to REI.
- jschwartzi 11y agoREI shares dividends, and the stores are full of some of the most helpful people I know. They're about as good as USAA.
- ctdonath 11y ago... which is indistinguishable from a "shoppers' club card". I don't see any benefits beyond discounts and rebates. Voting is a rumor, and meaningless to most members. You're treated like a shopper, not an owner. I'm a happy REI customer with a card.
- bcherry 11y agoI've always been confused about this. REI has 12 million members, and annual revenue of $2.2B. If someone wanted to buy REI's business, who would they buy it from? A retailer like Target has $70B annual revenue and a market cap of $40B. So that would suggest that REI could be worth something like $1B. Would each of the 12M members get a check for $83?
- __derek__ 11y agoFrom the article: "Another advantage of being a co-op: Since REI is technically owned by millions of members who’d get little cash from a takeover, it’d be very cumbersome for a rival to buy it out."