Bozur
Amicus
Posts: 5,515
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Post by Bozur on Nov 18, 2008 1:42:09 GMT -5
Interesting approach here by workers Workers buying Jagodinska pivara 17. November 2008. | 09:28 Source: limun.hr
Workers and some minority shareholders of Jagodinska pivara have set up a consortium for the acquisition of the state-owned capital of this brewery.
Workers and some minority shareholders of Jagodinska pivara have set up a consortium for the acquisition of the state-owned capital of this brewery.
So far, 200 out of the 270 workers have opted for this decision, some are still deciding and it is expected that all employees will join the consortium.
The state-owned capital in Jagodinska pivovara amounts to 65 percent.
The president of the brewery’s management board, Zivotije Nikolic, said that the setting up of a consortium by workers for the acquisition of the brewery was the only solution to save the brewery from ruin, because there was no strategic partner for another kind of privatization. www.emportal.co.yu/
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Bozur
Amicus
Posts: 5,515
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Post by Bozur on Nov 18, 2008 1:46:28 GMT -5
Employee ownership
Employee ownership occurs when a corporation is owned in whole or in part by its employees. Employees are usually given a share of the corporation after a certain length of employment or they can buy shares at any time. A corporation owned entirely by its employees (such as a worker cooperative) will not, therefore, have its shares sold on public stock markets. Employee-owned corporations often adopt profit sharing where the profits of the corporation are shared with the employees. They also often have boards of directors elected directly by the employees. Some corporations make formal arrangements for employee participation, called Employee Stock Ownership Plans (ESOPs).
Employee ownership appears to increase production and profitability, and improve employees' dedication and sense of ownership. However, critics caution that democratic leadership can lead to slow decision-making, and employee stock ownership can increase employees' financial risk if the company does poorly. Notable employee-owned corporations include the John Lewis Partnership in the UK, and the US firm Tribune Company.
Most features of employee-owned corporations described in this article are not specific to any one nation. The information on taxation and stock trading refers to United States law and may differ elsewhere.
more at en.wikipedia.org/wiki/ESOP
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