In cleaning out my office, I am finding all sorts of interesting material from the past. Here is the start of one example:
Minsky, Terri. 1981. "Grapes of Rath: Workers Who Bought Iowa Slaughterhouse Regret That They Did." Wall Street Journal (2 December): p. A 1. "Members of the local meatpackers' union agreed in July 1980, in effect to buy a majority stake in Rath by taking part of their weekly wages in common stock. The hog-slaughtering and pork-processing company, which was verging on bankruptcy after five years of losses, thus got a new lease on life. At first, Rath's employees, optimistic about their company, felt a rush of power and pride. Productivity increased, absenteeism and tardiness fell off. But soon enough frustration and disillusionment set in." "Plant executives, in the 17 months that Rath's employees have owned the business haven't relinquished management decisions to meat cutters in bloodstained overalls. Worker morale is low, and some union members want to strike against the company they own. "About 250 U.S. companies with at least 10 workers each are employee-owned today; a decade ago only a few were. Most such enterprises are the products of last-ditch efforts to stay in business. Altogether, about 50,000 people have saved their jobs by taking over companies, according to the National Center for Employee Ownership." "In recent years, such large corporations as Amstad Industries, Sperry Rand Co. and General Motors Corp. have sold to employees plants that would otherwise been closed." -- Michael Perelman Economics Department California State University Chico, CA 95929 530 898 5321 fax 530 898 5901 http://michaelperelman.wordpress.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
