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What's up with employee-owned companies/co-ops? How does it compare to a strong union? (lemmy.ml)

submitted 3 days ago by [email protected] to c/[email protected]

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I'm interested in leftist opinions of employee-owned companies. If that's still too broad, could you give some examples of employees buying their employer out? Or are there other ways, like with a union?

Also, what's up with King Arthur's and Bob's Red Mill?

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[–] SreudianFlip 8 points 3 days ago (3 children)

Wait didn't MEC collapse into / get bought by a regular corporation?

[–] [email protected] 9 points 3 days ago

Yeah, I failed to expand on the example. During COVID they faced bankruptcy and the board sold out (without consulting members) I assume there could have been a lawsuit over that but due to bankruptcy a lawsuit would probably not gain anything. Prior to the sellout though we as members got info and choices on voting who ran it, and profit sharing rebates when times were good. In the final years it seemed people voted in CEO types rather than enthusiast outdoor types. Not sure if that led to the collapse, or it was already headed that way.

When it was operating as a coop years back items were affordable and we still had profit, something changed toward covid era though, maybe markets shifted and MEC didn't adapt. They still sell some good stuff but a lot of it now is MEC branded AliExpress stuff. Also don't buy their MEC branded inner tubes they barely last a few rides.

[–] [email protected] 3 points 3 days ago

Yeah it’s Mountain Equipment Company now

[–] [email protected] 1 points 3 days ago

I thought the same thing.