The Working World

Truthout – Capitalism Has Failed Immigrants. Can Worker Cooperatives Do Better?

From Truthout: Five years later, Reyes is now A Yard & A Half’s board president. He still works on the field team doing landscaping and hardscaping work, but he now has a much broader range of responsibilities, which include facilitating meetings, developing agendas, and meeting with the executive committee once a month. A Yard & […]

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Fast Company – How Massachusetts is working to get retiring business owners to let their employees take over

From Fast Company: Massachusetts wants to nudge these business owners toward another option: selling their companies to their employees. The state hired two nonprofits with expertise in shifting to employee ownership models–Working World and ICA Group–to revive its Office for Employee Involvement and Ownership (EIO), which was initially established in the late 1980s but faded […]

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NPQ – A National Worker Co-op Financing Network Emerges

From NPQ: “In 2017, Minnesota was named the second-most unequal state for Black people in a study of Black and White inequality by 24/7 Wall St., a financial news and opinion website,” reports Ivy Brashear for Yes! Magazine. In particular, Minneapolis’ Northside has a severe shortage of shopping centers, grocery stores, and banks. Poverty is widespread in the city’s Near […]

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Yes – The Co-op That’s Keeping Community Money Out of Big Banks

From Yes! Magazine: The Financial Cooperative calls its task “nonextractive” or “regenerative finance.” The goal is to give control of capital to communities that have been most marginalized, but also to funnel capital into those communities. It believes in cooperative control of community financial institutions and set itself up as a cooperative nonprofit, with each […]

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Yes – The Co-op That’s Keeping Community Money Out of Big Banks

From Yes Magazine: Connelly’s credit union is part of a strategy by a nonprofit consortium of investors, financial organizations, and community development groups known as the Financial Cooperative to set up locally controlled loan funds across the country. The cooperative’s founders believe investing and lending in marginalized communities can counteract historical wealth extraction, which happened […]

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Fifty by Fifty – Are Cooperatives Really So Difficult to Finance?

From Fifty by Fifty: Since 2012, CFNE has financed 15 co-op conversions including providing nine loans for business acquisitions and twelve working capital lines of credit to recently converted businesses. Some of our borrowers include: A Yard & A Half Landscaping Co-op, a largely immigrant co-op serving residences throughout the greater Boston area; Island Employee […]

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NPQ – Report: Business Sales to Worker Co-ops Can Preserve over 1,000 Jobs a Year

From NPQ: Typically, when US businesses think of employee ownership, the form that ownership takes is an employee stock ownership plan (ESOP) company. The most up-to-date data (from 2015) finds that 10.8 million Americans work at an estimated 6,669 companies in which an ESOP owns all or part of the company. Because an ESOP is a federally regulated […]

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Beneficial State Bank – The Employee Ownership Solution to the Silver Tsunami

From Beneficial State Bank: Linda and Gregory Coles founded their preschool, A Child’s Place, in their Queens, NY basement in 1983. Over the years it grew steadily and developed a deeply loyal community. Now they own a large building, employ more than 50 people and serve hundreds of families. Former students bring their own kids to […]

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Forbes – Will Impact Investors Embrace Employee-Owned Companies?

From Forbes: For social entrepreneurs concerned about growing income inequality in the U.S. and around the world, one way to spread the wealth is through employee ownership. With that in mind, you’d think impact investors would be clamoring to invest in such companies. Not so much. Still, according to a new report, while impact investors […]

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Yes – 6 Ways We’re Already Leading an Economic Revolution

From Yes Magazine: Worker-cooperative advocates are building a parallel ecosystem of this kind all across the country. Cooperative development projects like the Wellspring Collaborative in Springfield, Massachusetts, and the CERO cooperative in Boston are creating exciting new crowdfunding mechanisms to help communities launch democratic enterprises. Organizations like The Working World and the Shared Capital Cooperative […]

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Webinar Recap – Poverty Alleviation and Systems Change with Worker Cooperatives

From Emerging Practitioners in Philanthropy: A time-tested approach to community economic development internationally, worker cooperative businesses are making inroads in the United States with regional initiatives in New York City, Madison, the Bay Area, and rural areas in the South. In this webinar, we aim to introduce worker-cooperative development as an innovative approach to poverty […]

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Brooklyn Grocery Proving Cooperative Business Works

From Next City: Two years ago, through the Exalt Youth program for youth in the criminal justice system, Christina Thomas got a six-week internship at Bed-Stuy Fresh and Local. She was 16. The owners, Sheila Akbar and Dylan Ricards, liked her so much they offered her a permanent position at the end of her internship. […]

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Shareable – New York City to Make Historic Investment in Worker Cooperatives

From Shareable: The Big Apple got behind cooperatives in a small, yet historic way this past month with the adoption of a budget that includes a $1.2 million dollar fund to support the development of worker owned cooperatives. That $1.2 million is the largest investment in worker cooperative by a US city to date shows […]

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