‘Employee ownership changes how companies operate. It changes how people feel about their work, and it enables them to build significant wealth over time.’
‘When you look at who should own companies, measured by who takes the biggest risks and who adds the most value, the arrows all point in one direction: the employees.’
‘… it is ownership that sets the terms and incentives under which companies must operate. Unless reformers address the issue of ownership, their impact will always be limited.’
‘Companies owned by private equity too often wind up saddled with debt and forced into layoffs. Their owners typically care little about their long-term health or the communities in which they operate.’
‘Ownership is more complex, and more open to change, than it first appears. Ownership by shareholders is just a convention, not a law of nature.’
‘When a company is sold– and nearly every company that doesn’t shut shop will be sold- there’s an opportunity to transform its ownership.‘
‘How to spread employee ownership? The good news is that we don’t need major changes in tax or other laws. Relatively minor tweak to existing rules, funding state and local outreach programs, and proving financial support for transactions could all make a big difference at a small cost.’
‘By focusing on broadening ownership, would-be reformers will undoubtedly create more models that work for more situations.’
‘A company owned by a trust exists for the benefit of employees. It rewards them with both profits and job security.’
‘Selling to the employees ensures that the company will continue as an independent business– no risk that it will be be immediately swallowed up by some giant corporation, with people on the payroll given the ax.’
Source:
Corey Rosen and John Case (2022). Ownership: Reinventing Companies, Capitalism, and Who Owns What
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