Has a privately owned business ever turned into a co-op? [View all]

[yurbud]

Co-ops would eliminate some of the problems of our finance driven corporate business culture, but most businesses seem to start from one person's vision or obsession.

The turning point seems to be when they go public and become a corporation.

Suddenly the original vision to provide a product or service is subordinate to meeting profit goals set by the financial sector, and even if the company is profitable and the product is beloved by the public, if someone in finance thinks they can make a quick buck by killing the company, they can and will.

The same can happen to employees well before the company itself is killed. While an individual owner may have benevolent feelings and policies toward his employees, once it goes corporate, bookkeeping sleight of hand to goose profits take priority over treating them right and even getting the best efforts from them.

I wonder if some of the founders of companies wouldn't be happy with less money if they knew their company would survive with something like its original vision after their active leadership rather than being prostituted and cannibalized.

It would certainly be more likely to survive as a one person (including employees, investors, and even customers) one vote as opposed to one dollar one vote.

Has anyone ever done this and converted a family business or partnership into a co-op?

Is there any effort to convince small businesses this is the better way to expand?

If not, there should be.