Word: ownerships
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Dates: during 2000-2009
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...Kiel, who as a business owner and management consultant has worked with nearly 200 companies of varying scale, says he has already seen advantages to employee ownership. "Since the business belongs to the workers, my job is expos[ing] them to how to run a business," he says. "In addition to the technical training, we're training in administration and managerial skills - how to obtain work orders, track profitability, read a financial statement." Unlike the typical workplace, here employees know exactly how much a company - and each individual - is making. "There's a value in dealing with an informed workplace...
...Cleveland model," as Evergreen has already been dubbed, creates "a way to stabilize jobs in an area as well as democratize ownership," says Gar Alperovitz, professor of political economy at the University of Maryland and a founding principal of the Democracy Collaborative, a nonprofit organization that has advised Evergreen. He says part of the strategy has been to address growing sectors of the economy, such as health care and energy. To have a major impact on the regional economy, manufacturing has to be brought in, says Alperovitz. "We're thinking about similar approaches with bullet trains and mass-transit vehicles...
...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 of some egalitarian ideal - they did it out of the necessity to feed and provide for their families...
...going public with the scam. According to Magnitsky, the raid began in June 2007, when police burst into Hermitage's offices with warrants and seized company records, corporate seals and tax certificates, which were then used by corrupt government officials and other members of their criminal gang to take ownership of three Hermitage subsidiaries. Months later, the company claims that phony lawsuits were filed against the three firms, leading to several judgments against them. With the assistance of tax officials, Hermitage says the raiders then allegedly used the judgments to secure a fraudulent $230 million tax refund from the government...
...rights to southern Iraq's giant Rumaila field. Other companies abandoned the process after Iraqi officials refused to pay more than $2 for each barrel produced above a certain threshold. (Instead of leasing the fields to operators and receiving royalties for every barrel of oil sold, Iraq is retaining ownership of production. In essence, the government is employing oil companies to develop the fields, paying them by the barrel...