5 ms·

Moog was actually employee-owned.

• omnibrain 3y ago
  49% of the company were owned by some sort of employee pension fund.
• SeanLuke 3y ago
  The majority of the company was not employee owned.
• lsy 3y ago
  Not really. It's an interesting sidebar how companies use the phrase "employee-owned" to confuse people about who is in charge. Moog had an ESOP which just means the employees held 49% of the shares of stock in the company, as far as I understand without any right to influence operations, which remained fully with the CEO. That's "employee-owned" in the same sense that you "own" my house if you hold securities that are invested in my mortgage, i.e. not at all.
  • jolux 3y ago
    Huh, TIL. Thanks for clarifying!
• ijustlovemath 3y ago
  Only in a marketing sense. A good friend of mine started a union drive there about a year ago and was met with fierce opposition from management, who proverbially holds the keys to the kingdom. Contract negotiations were ongoing when this happened