So I get the idea that companies shouldn’t be slaves to shareholders or the whims of a few people, but would the employees owning the company mean they are shouldering financial risk? Like if my company goes bankrupt I just lose my job, I am not responsible for covering their losses.
I think the liability would still be limited. If a company goes bankrupt it’s not like they’re going after shareholders’ personal assets to pay creditors.
Are you under the impression that private business owners have to cover losses…? Like that’s what a LLC is, a limited liability company. If it goes bankrupt the private owners are only liable for a part of it.
If a private business owners goes bankrupt, he just has to, gasp, find a job.
If a worker loses their job they might go fucking homeless.
I think what he’s getting at is you lose both your job and your shares (which are presumably part of your retirement) if the co-op goes tits up. It’s more risk.
So I get the idea that companies shouldn’t be slaves to shareholders or the whims of a few people, but would the employees owning the company mean they are shouldering financial risk? Like if my company goes bankrupt I just lose my job, I am not responsible for covering their losses.
I think the liability would still be limited. If a company goes bankrupt it’s not like they’re going after shareholders’ personal assets to pay creditors.
Are you under the impression that private business owners have to cover losses…? Like that’s what a LLC is, a limited liability company. If it goes bankrupt the private owners are only liable for a part of it.
If a private business owners goes bankrupt, he just has to, gasp, find a job.
If a worker loses their job they might go fucking homeless.
I think what he’s getting at is you lose both your job and your shares (which are presumably part of your retirement) if the co-op goes tits up. It’s more risk.
You also make a lot more money 🤷♂️
There would still be limited liability. Furthermore, they can share risks with investors, and self-insure against risk as well @general
Employees with stock face the same risk as any other stock owners: that the value of the stock will become zero, or just grow poorly.