this post was submitted on 26 Oct 2024
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I was just at a depressing job fair trying to recruit for maintenance. It was held at a plant set to close in 3 days. Most of the people I talked to were there for 30 years. It was partially employee owned. Somehow a person in power (I don't know the piece of shit's title) convinced the employees to sell their share at the promise of expansion and investment.
The person in power closed the shop, cashed out, and retired. Will not have to worry about a thing. 200 some people and families now have their lives upended at the benefit to few.
This kind of aligns more with the person you responded to but still relevant.
Shit like this is always on my mind when I think of how better things would be if the economy was set up in a way that employees were paid with both money and equity in the company they are a part of. The main difference would likely come down to the employees at least getting a share of the sale proceeds when someone else wants to buy the business and liquidate it.
Though I'd hope that most would at least hold out and not take the first big offer.
But I don't think that a majority vote should be enough to liquidate a business. If just one share wants to keep going, other shares should only have the option to sell their own shares or try to buy the holdout out.