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Yes – Converting Businesses to Cooperatives Just Got Easier

From Yes! Magazine:

As Tom Adams, co-founder of Adams & Chittenden Scientific Glass, started planning his exit into retirement, he knew what he didn’t want to happen. Twenty-six years earlier, Adams was a production manager at a scientific glass blowing company in Berkeley, Calif., when the last of the company’s founders decided to sell the company to an MBA with no expertise in the field. Beyond the new discomfort within the company, the final straw was when the new owner denied Adams’s request for a raise. Resigning and starting a competing scientific glass company with his partner George Chittenden was a “rapid transition” that has served the glass blower well, but that doesn’t mean Adams wants to force any of his employees into the same choice after his own exit from the company.

Get the full story here:

https://www.yesmagazine.org/new-economy/business-cooperative-employee-ownership-20191010