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View Diary: Irish Workers Occupy Waterford Crystal Factory (277 comments)

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  •  And who will pay to run it? eom (1+ / 0-)
    Recommended by:

    curiosity killed the cat, but satisfaction brought her back

    by graycat13 on Sat Jan 31, 2009 at 11:29:27 AM PST

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    •  I'm making an assumption (9+ / 0-)

      I'm assuming the current owner over-leveraged and is in the process of peeling off assets. I'm assuming that the Waterford factory is profitable, since they are looking to sell it, or at least the brand.

      If it is, it can be run as an employee-owned business. The model is simple: The employees serve as both workers and shareholders. As shareholders, they elect a board, management, and make capital expenditure decisions.

      The profit from the factory will pay to run it, assuming it is, in fact profitable.

      Comments Signature: This will get attached to your comments.

      by Gravedugger on Sat Jan 31, 2009 at 11:44:47 AM PST

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      •  He isn't selling it. (5+ / 0-)
        Recommended by:
        Asak, BachFan, Gravedugger, BYw, Neglected Duty

        The company is bankrupt. The receivers are selling off the assets. From what I've read(including the articles linked above), only Wedgewood's ceramics factory in Asia( which has a union hall and health  clinic by the way)is profitable. It is being sold too. The factories in England and Ireland are all losing money.

        According to the Guardian, the owner has put in hundreds of millions of pounds to try to make it profitable.

        I am sure if the employees can find the capital to buy it they can.

        curiosity killed the cat, but satisfaction brought her back

        by graycat13 on Sat Jan 31, 2009 at 11:53:17 AM PST

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    •  Why don't we? (2+ / 0-)

      I'd buy into a worker cooperative.

      •  And then you'd go bankrupt too... (0+ / 0-)

        because if no one wants your goods, or not enough do, then you won't make any money.  End of story.  Doesn't matter how the ownership is structured.  

        Don't like XOM and OPEC? What have YOU done to reduce your oil consumption? Hot air does NOT constitute a renewable resource!

        by Asak on Sun Feb 01, 2009 at 02:18:05 AM PST

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