Word: ands
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Dates: during 2000-2009
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In late October, the Mondragon Corp. and the million-plus-member United Steelworkers (USW) union announced an alliance to develop Mondragon-type manufacturing cooperatives in the U.S. and Canada. Says USW's Rob Witherell: "Initially we are looking to convert an existing manufacturing operation." As for financing new ventures, he...
Witherell stresses that the union aims to implement the basic principles of worker ownership and democratic governance rather than precisely replicate the Mondragon model. Still, he says, success comes down to well-run companies that meet a need. "The people who formed these co-ops did not do so because...
The Arizmendi Association of Cooperatives, the umbrella organization for a group of four (soon to be six) worker-owned bakeries in the San Francisco Bay Area, took its name as well as its business plan from Mondragon. The companies share technical and financial resources - as well as proprietary recipes - and...
Arizmendi now employs 125 workers and annually generates $12 million in sales. Despite the economic downturn, the businesses remain strong and poised for growth. This in part owes to the collective decision-making model, says Hoover. "Worker-owned cooperatives are an innately conservative form. We didn't overleverage ourselves."
Take a longer-term view and success is a little trickier. That's why TIME asked investment-tracker Morningstar to pull together a list of the best-performing stocks over the past decade. On the eve of 2010, we figured it was time to take a look back and see...