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In the UK, employee or customer owned businesses are a mixed bag. We have some very good ones (John Lewis, Nationwide) and some bad ones (the Co-op group). I t
by corford 12y ago
In the UK, employee or customer owned businesses are a mixed bag. We have some very good ones (John Lewis, Nationwide) and some bad ones (the Co-op group).
I think whether or not a business is employee owned is less important for success than it having a good and capable management team.
- walshemj 12y agoThe coop got into trouble because they where lent on by the government to solve some of the structural problems in the banking industry and at the same time had a botched transfer of undertaking from a building society. Not that combined group didn't have some structural issues and some less than stellar board members - needed some stroppy buggers like me on there.
- Joeboy 12y ago> We have some very good ones (John Lewis, Nationwide) and some bad ones (the Co-op group). The co-op group was a good one for a century and a half, but went astray in the last few years. Edit: For those unfamiliar, the story of Co-op bank chairman Paul Flowers is good lurid fun. https://en.wikipedia.org/wiki/Paul_Flowers_%28banker%29 https://en.wikipedia.org/wiki/Paul_Flowers_%28banker%29