You are viewing an obsolete version of the DU website which is no longer supported by the Administrators. Visit The New DU.
Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

Reply #10: Well that's the risk with owning a company [View All]

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU
sandnsea Donating Member (1000+ posts) Send PM | Profile | Ignore Sun May-31-09 09:54 PM
Response to Reply #8
10. Well that's the risk with owning a company
Honestly, people praise the idea of worker ownership around here all the time. Then when the downside comes along - it's employees taking all the risk?? How come nobody ever thinks of that when they're praising collectives?

GM spent $103 billion in 15 years according to that Time article. The Employee Benefit Association has $9.4 billion in assets which would only last 3 years. GM owes it $20 billion. Instead they are taking a 17% stake and a seat on the board. If GM goes totally bankrupt, the health care goes too. This seems like a good deal to me. I just hope the workers are making sure the union stays accountable to them with the profits.
Printer Friendly | Permalink |  | Top

Home » Discuss » Archives » General Discussion: Presidential (Through Nov 2009) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC