No kidding Rad,
Do you remember the Lively debate about REI forming a Union on Kiro a while back...
And when I crunched the actual numbers the average worker including all the C-Levels was only making $14K/year
Bad as getting those RSUs now that are only worth something if the company is sold...
How is that $65,000+ equity stake in the co-op realized by the worker or his/her family when s/he retires or dies? Is it ever realized? If it is sold on the market, the co-op will gradually become just another stock ownership C corp. Only if the co-op "buys back" that stake upon retirement or death will it remain a worker-owned co-op over the long haul. That means that it must have a cash reserve sufficient to provide its own, or to buy annuities for, workers' pensions.
Evergreen's website talks about "investors." If they are customary investors, one assumes that they get a return on that investment. Where does it come from? What role do investors play in these co-ops?
The sustainability of worker-owned co-ops can be tricky. The history of most "co-ops" in the US is littered with lofty rhetoric masking little more than con jobs or organizations that have morphed into the opposite of their original intentions. (Consumer co-ops like REI and farmer co-ops like Darigold are prime examples in the NW.) Hopefully, the Evergreen groups and similar co-ops in the Bay Area are able to avoid that fatal trajectory.
Locking Kids in Jail for Misbehavior Isn’t Just Unfair—It’s Abuse