The Ohio Employee Ownership Center (OEOC) is an organization based at Kent State University which provides employees of businesses in Ohio with resources for establishing Employee Share Ownership Plans through worker buyouts of companies.
Kent State University (KSU) is a public research university in Kent, Ohio. The university also includes seven regional campuses in Northeast Ohio and additional facilities in the region and internationally. Regional campuses are located in Ashtabula, Burton, East Liverpool, Jackson Township, New Philadelphia, Salem, and Warren, Ohio, with additional facilities in Cleveland, Independence, and Twinsburg, Ohio, New York City, and Florence, Italy.
The organization's first effort was the attempted worker buyout of the Atlantic Foundry Company from the Reymann family under the terms of an ESOP. However, a lawsuit brought by 125 foundry retirees seeking the resumption of health and life insurance benefits derailed the ESOP negotiations, and the plant closed in 1989. OEOC has since helped in successful efforts at ESOPs for such companies as DimcoGray. [1]
The Atlantic Foundry Company was an Akron, Ohio-based iron casting manufacturer that operated from 1905 to 1989. The company was founded by Charles Reymann Sr., a immigrant from Alsace-Lorraine, along with 4 fellow foundryman, Ewald Erickson, Emil Krill, Fred Spalding, and Phillip Willenbacker, who had crossed the Atlantic Ocean when they migrated to America and named their new business The Atlantic Foundry. To meet the growing demand for iron, in 1910 they built a modern iron foundry at 182 Beaver Street and in 1919 they added a huge steel foundry at the same site and began a steel casting business. By this time Erickson and Krill had sold their interest to Reymann and he eventually became the President of the company, and the company was privately owned and operated by the Reymann family until its closing.
The organization has served as the inspiration for similar organizations which bring organized labor and cooperative federations together, such as the Prairie Labor-Worker Co-op Council (a collaboration between the Canadian Worker Cooperative Federation and Canadian Labour Congress).
The Canadian Labour Congress, or CLC is a national trade union centre, the central labour body in English Canada to which most Canadian labour unions are affiliated.
A cooperative is "an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise". Cooperatives may include:
The American Federation of Labor (AFL) was a national federation of labor unions in the United States founded in Columbus, Ohio, in December 1886 by an alliance of craft unions disaffected from the Knights of Labor, a national labor union. Samuel Gompers of the Cigar Makers' International Union was elected president at its founding convention and reelected every year, except one, until his death in 1924. The A.F. of L was the largest union grouping in the United States for the first half of the 20th century, even after the creation of the Congress of Industrial Organizations (CIO) by unions which were expelled by the AFL in 1935 over its opposition to industrial unionism. The Federation was founded and dominated by craft unions throughout its first fifty years, after which many craft union affiliates turned to organizing on an industrial union basis to meet the challenge from the Congress of Industrial Organizations (CIO) in the 1940s.
Louis Orth Kelso was a political economist, corporate and financial lawyer, author, lecturer and merchant banker who is chiefly remembered today as the inventor and pioneer of the employee stock ownership plan (ESOP), invented to enable working people without savings to buy stock in their employer company and pay for it out of its future dividend yield.
A worker cooperative is a cooperative that is owned and self-managed by its workers. This control may be exercised in a number of ways. A cooperative enterprise may mean a firm where every worker-owner participates in decision-making in a democratic fashion, or it may refer to one in which management is elected by every worker-owner, and it can refer to a situation in which managers are considered, and treated as, workers of the firm. In traditional forms of worker cooperative, all shares are held by the workforce with no outside or consumer owners, and each member has one voting share. In practice, control by worker-owners may be exercised through individual, collective, or majority ownership by the workforce; or the retention of individual, collective, or majority voting rights. A worker cooperative, therefore, has the characteristic that each of its workers owns one share, and all shares are owned by the workers. The International organisation representing worker cooperatives is CICOPA. CICOPA has two regional organisations: CECOP- CICOPA Europe and CICOPA Americas.
An employee stock ownership plan (ESOP) is an employee-owner program that provides a company's workforce with an ownership interest in the company. In an ESOP, companies provide their employees with stock ownership, often at upfront cost to the employees. ESOP shares, however, are part of employees' remuneration for work performed. Shares are allocated to employees and may be held in an ESOP trust until the employee retires or leaves the company. The shares are then either bought back by the company for redistribution or voided.
The United States Federation of Worker Cooperatives (USFWC) is a federation of worker cooperatives in the United States. USFWC was founded at the U.S. Conference of Democratic Workplaces in Minneapolis, Minnesota in May 2004.
Union busting is a range of activities undertaken to disrupt or prevent the formation of trade unions. Union busting tactics can refer to both legal and illegal activities, and can range anywhere from subtle to violent. Labor laws differ greatly from country to country in both level and type of regulations in respect to their protection of unions, their organizing activities, as well as other aspects. These laws can affect topics such as posting notices, organizing on or off employer property, solicitations, card signing, union dues, picketing, work stoppages, striking and strikebreaking, lockouts, termination of employment, permanent replacements, automatic recognition, derecognition, ballot elections, and employer-controlled trade unions. Article 23 of the Universal Declaration of Human Rights (UDHR) declares that everyone has a right to form and/or join a trade union. The provision is, however, not legally binding and has, in most jurisdictions, no horizontal effect in the legal relation between employer and employees or unions.
Co-operative economics is a field of economics that incorporates co-operative studies and political economy toward the study and management of co-operatives.
The ICA Group is an American not-for-profit entity specializing in consulting organizations wishing to become fully owned by the employees. The organization has a reliable work history with the NCBA. While ICA primarily provides consultation to worker cooperatives, it also offers support to employee stock ownership plans (ESOPs).
U.S. Sugar Corporation, is a privately owned agricultural business based in Clewiston, Florida. The company farms over 230,000 acres of land in the counties of Hendry, Glades and Palm Beach. It is the largest producer of sugar cane in the United States by volume, producing over 700,000 tonnes per year. The company is also a large producer of refined sugar, sweet corn and oranges.
A unionized cooperative is a cooperative, usually a worker cooperative, which is beholden to active legal involvement by trade unions in the representation of the worker-owners' interests.
The Evergreen Cooperatives are a connected group of worker-owned cooperatives in Cleveland, Ohio, USA. They are committed to local, worker-owned job creation; sustainable, green and democratic workplaces; and community economic development.
Economic democracy is a socioeconomic philosophy that proposes to shift decision-making power from corporate managers and corporate shareholders to a larger group of public stakeholders that includes workers, customers, suppliers, neighbours and the broader public. No single definition or approach encompasses economic democracy, but most proponents claim that modern property relations externalize costs, subordinate the general well-being to private profit and deny the polity a democratic voice in economic policy decisions. In addition to these moral concerns, economic democracy makes practical claims, such as that it can compensate for capitalism's inherent effective demand gap.
Workers' self-management, also referred to as self-management, labor management and autogestión, is a form of organizational management based on self-directed work processes on the part of an organization's workforce. Self-management is a characteristic of many forms of socialism, with proposals for self-management having appeared many times throughout the history of the socialist movement, advocated variously by libertarian and market socialists, communists and anarchists.
Gardener's Supply Company is an employee-owned company providing environmentally friendly gardening products and information through its website, catalogs, and retail stores.
Social ownership is any of various forms of ownership for the means of production in socialist economic systems, encompassing public ownership, employee ownership, cooperative ownership, citizen ownership of equity, common ownership and collective ownership. Historically social ownership implied that capital and factor markets would cease to exist under the assumption that market exchanges within the production process would be made redundant if capital goods were owned by a single entity or network of entities representing society, but the articulation of models of market socialism where factor markets are utilized for allocating capital goods between socially owned enterprises broadened the definition to include autonomous entities within a market economy. Social ownership of the means of production is the common defining characteristic of all the various forms of socialism.
Workplace democracy is the application of democracy in all its forms to the workplace.
A platform cooperative, or platform co-op, is a cooperatively owned, democratically governed business that establishes a computing platform, and uses a website, mobile app or a protocol to facilitate the sale of goods and services. Platform cooperatives are an alternative to venture capital-funded platforms insofar as they are owned and governed by those who depend on them most—workers, users, and other relevant stakeholders. Proponents of platform cooperativism claim that, by ensuring the financial and social value of a platform circulate among these participants, platform cooperatives will bring about a more equitable and fair digitally mediated economy in contrast with the extractive models of corporate intermediaries. Platform cooperatives differ from traditional cooperatives not only due to their use of digital technologies, but also by their contribution to the commons for the purpose of fostering an equitable social and economic landscape.