"Canuck57" wrote in message
...

wrote in message
t...
On Mon, 17 Nov 2008 18:28:18 -0700, Canuck57 wrote:

Here is a solution for GM that will work.

Each and every employee of GM is to buy stock in the company. Proceeds
will be used to fund GM financial needs.

Workers owning the company? Isn't that communism?

Nope. Not at all. Some very successful companies have many employees
financially involved it its well being. Which is precisely GMs problem,
making them shareholders diffuses 30 years of union rant.

That's fine if the financial involvement is voluntary. Mandatory investment
by workers is essentially socializing ownership - the same principles as
Marxism.

100% employee-owned businesses generally do well. That is because as
owners, if they want to exploit and mismanage the company, they are only
exploiting and mismanaging themselves. There is a direct realtionship for
financial reward, such as performing well, rather than getting rewarded
whether the company is failing or succeeding (the norm for today's
executives).

However, even if employees flocked together to buy some of GM, as a class
they would still be in a minority position. Why would anyone allow a
minority shareholder to call the shots? It just doesn't work that way.