New Economy Ownership and Wealth Management Transition Strategies
This New Economy Transition session will explore practical strategies for advancing a transition from a system of ownership that concentrates wealth and uses the powers of ownership to expropriate community wealth to a system of distributed ownership democratically accountable to people who have a direct stack in the wellbeing of their communities and the creation of real community wealth. We will give particular attention to strategies by which labor unions, pension funds, or others might organize, fund, and execute leveraged corporate buy-outs using the methods of private equity and convert the purchased companies to community rooted worker cooperative ownership.
- What forms of ownership best support a transition to ecological balance, shared prosperity, and deep democracy?
- To what extent is there interest among unions, pension funds, responsible investment funds, and other relevant groups in such issues?
- How do worker cooperative ownership and ESOP models differ and what are relevant lessons from experience with both?
- How might a union create or ally with a private equity fund with a mission to purchase and convert major publicly traded corporations to worker cooperative ownership?
- How might such leveraged buyouts be structured and funded? What sources of funding might be available—including pension funds, responsible investment funds, cooperative banks, and others?
- Would success require the cooperation of the management of the target corporation and is such cooperation a realistic possibility?
- Once an acquisition is completed, by what process might ownership shares transfer to workers?
- What would be the most critical risks and barriers? How might these be addressed?
- What are relevant lessons from Mondragon and other successful large-scale worker cooperative ownership models?
- What are other potential approaches to implementing a system of ownership consistent with a viable human future?
- What might be avenues for engaging broader public discussion of these issues, their implications, and potential initiatives?
The session will be chaired by John Cavanagh, Institute for Policy Studies director and New Economy Working Group co-chair.
- In Person please RSVP to Noel Ortega at email@example.com by writing an email with the subject line “RSVP for Feb 10 in person” Event location: Institute for Policy Studies, 1112 16th St. NW, Suite 600, Washington D.C. (16th and L)
- Teleconference please RSVP to Noel Ortega at firstname.lastname@example.org by writing an email with the subject line “RSVP for Feb 10 via phone.” Then dial:
- Dial +1 (510) 443-0605
- Access Code: 601-115-813
- Audio PIN: Shown after joining the meeting
- Meeting ID: 601-115-813
- Webinar please RSVP to Noel Ortega at email@example.com by writing an email with the subject line “RSVP for Feb 10 via webinar.” Then follow these instructions:
- 1. Go to: https://global.gotomeeting.com/join/601115813
- 2. Use your microphone and speakers (VoIP) – a headset is recommended. Or, call in using your telephone:
- Dial-in +1 (510) 443-0605;
- Access Code: 601-115-813;
- Audio PIN: Shown after joining the meeting;
- Meeting ID: 601-115-813
Gar Alperovitz, Sarah Anderson, John Cavanagh, Nicola Chin, Chuck Collins, Kat Gjovik, David and Fran Korten, Bob Massie, Stacy Mitchell, Noel Ortega, Gus Speth and Sara van Gelder