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And this is a perfect time to talk about worker owned corporations. The employees should be able to buy the company. Not only that, but they should also be giv
by pierat 3y ago
And this is a perfect time to talk about worker owned corporations.
The employees should be able to buy the company. Not only that, but they should also be given first rights to do that. And if government was serious about keeping businesses in operation through bankruptices, they would also issue a loan to the employees to complete this.
That would keep the company running, under employee control, and save a whole pile of jobs.
- boeingUH60 3y agoThe problem with Yellow is that it was a terribly-run company on its way to doom…some companies should just be let to die and should have never received a government loan to postpone the death. Let’s assume employees take over operations, whom among them will step up to run the company? How are you sure they’ll turn it around successfully? Running a company is hard enough with the typical model. It’s much harder if you try to run it as a democracy where clueless people get to vote on management decisions..
- antisthenes 3y agoWorker owned corporations don't work for the same reason communism doesn't work. "Bad" actors (in this case people who are bad with money) will simply sell their share of the company for short term household needs, which will begin the process of consolidating company ownership in the hands of more frugal/savvy owners. Then in the end you simply end up with the same ownership distribution as it exists today.