Workers in Maine Buy Out Their Jobs, Set an Example for the Nation

[Generic Other]

On remote Deer Isle, Maine, the movement for a more just and democratic economy won a major victory this summer. More than 60 employees of three retail businesses - Burnt Cove Market, V&S Variety and Pharmacy, and The Galley - banded together to buy the stores and create the largest worker cooperative in Maine and the second largest in New England.

Now the workers own and run the businesses together under one banner, known as the Island Employee Cooperative (IEC). This is the first time that multiple businesses of this size and scope have been merged and converted into one worker cooperative - making this a particularly groundbreaking achievement in advancing economic democracy.

http://www.truth-out.org/opinion/item/26160-workers-in-maine-buy-out-their-jobs-set-an-example-for-the-nation

[KoKo]

1. Deer Island is a wonderful place..GOOD FOR THEM!

[Luminous Animal]

2. Mondragon 257 businesses and coopertives. 74,060 employees

MONDRAGON is a co-operative business organisation integrated by autonomous and independent cooperatives that competes on international markets using democratic methods in terms of its company organisation, job creation, both the human and professional development of its workers and a commitment to the development of its social environment. This mission was defined at the Co-operative Congress, which means it has the approval of all the co-operatives that make up MONDRAGON.

http://www.mondragon-corporation.com/eng/about-us/governance/

[WillyT]

4. And K & R For Mondragon !!!

[Progressive dog]

9. Just a few months ago Fagor

a part of Mondragon, with 5600 employees, was allowed to go bankrupt.
[link:http://www.dailykos.com/story/2014/01/12/1268841/-Anti-Capitalist-Meetup-Fagor-Goes-Bankrupt-Trouble-in-Camelot|

[Luminous Animal]

10. I know. Yes Magazine published a good analysis of the bankruptcy and the challenges for the

future of cooperatives.

http://www.yesmagazine.org/new-economy/mondragon-and-the-system-problem

[WillyT]

3. K & R !!!

[Triana]

5. That's the ticket, right there! n/t

[love_katz]

6. This needs to happen everywhere.

Just kick out the oligarch owners with their slave-holding mentality.

[1dogleft]

7. this is fantastic

everyone gets a raise and maybe free health care

[blackspade]

8. I can only hope this trend continues.

The more workers have the power, the better the workplace and community is.

[SammyWinstonJack]

11. REC!

[Generic Other]

12. When the people stand together in union

even tyrants fall.