Taylor Doing The Right Thing

[CaptainMoto]

I just found out that Taylor Guitars is now 100% employee owned!

That's great, the owners could have sold out to a giant corporation or a venture capital group but, no, they turned it over to the employees.

If / when I'm shopping for a new acoustic Taylor will be on the top of my search list.

https://www.musicradar.com/news/taylor-guitars-is-now-completely-owned-by-its-employees

 

[Silicon Valley Tom]

Good for them!

By the way, I won a Taylor Acoustic Guitar in a contest at a guitar store in Palo Alto, a few years ago. I was in the right place at the right time.

Tom

 

[Stinger22]

.................

 

[Rancid Rumpboogie]

Kudos to Taylor!

 

[MikeS]

Kudos to the employees for understanding that if they want a say in how the company is run and want a share of the profits, they need to OWN a piece. (Kinda like the stock market).

 

[jackderby52]

Although I no longer have any Taylors, I still receive their Wood & Steel publications... I read them cover to cover... They are indeed a classy organization...

 

[Cowboy Bob]

they need to OWN a piece.

You know my old man always told me that no one will take care of your business the way you can. If you ain't got something to lose, you ain't got much to gain.

 

[Stinger22]

Kudos to the employees for understanding that if they want a say in how the company is run and want a share of the profits, they need to OWN a piece. (Kinda like the stock market).

How much capital is each employee required to put into the company and is it subject to loses?

 

[CaptainMoto]

How much capital is each employee required to put into the company and is it subject to loses?

I don't have the specifics, it's what they call an ESOP. It's a sort of qualified retirement program as I understand it.

 

[MikeS]

How much capital is each employee required to put into the company and is it subject to loses?

If it's an ESOP, as Captain says, my understanding (back when I participated in one) is employees are not even REQUIRED to participate. They can usually buy shares at a discounted rate, and yes, when their stock falls, they participate in the losses, but they do not participate in the debt if the company goes under.

 

[Stinger22]

If it's an ESOP, as Captain says, my understanding (back when I participated in one) is employees are not even REQUIRED to participate. They can usually buy shares at a discounted rate, and yes, when their stock falls, they participate in the losses, but they do not participate in the debt if the company goes under.

Walmart has an ESOP plan but is not 100% employee owned. What if the employee leaves do they have to give up their shares else slowly it will be owned more and more by non-employees. I have no problems with ESOP plans and can be quite good for employees who have a vested interest. It's the "now 100% employees owned" I wonder, and worry, about. What happened to Bob and Kurt's shares, their capital did they just give that away? And when emolyees can vote themselves higher wages and benefits........I used to supply parts on South Bend Lathes which back in the 1970's went ESOP, the first company to do so. It eventually died after the owners engaged in a strike against themselves. So I hope it works out for the employees and the company.

 

[MikeS]

Walmart has an ESOP plan but is not 100% employee owned. What if the employee leaves do they have to give up their shares else slowly it will be owned more and more by non-employees. I have no problems with ESOP plans and can be quite good for employees who have a vested interest. It's the "now 100% employees owned" I wonder, and worry, about. What happened to Bob and Kurt's shares, their capital did they just give that away? And when emolyees can vote themselves higher wages and benefits........I used to supply parts on South Bend Lathes which back in the 1970's went ESOP, the first company to do so. It eventually died after the owners engaged in a strike against themselves. So I hope it works out for the employees and the company.

You don't give up your shares ( still have 30 or so shares from an ESOP I participated in 50 years ago)
ESOP gives you a "vote" just like any other share holder. You get to vote for board members, not to give each other raises. Sadly it can devolve into the same old management/workers crap.
I worked for a company for 27 years that was initially run by Ross Perot, He had no problem paying good people good money. In all those years I never had to ask for a raise or feel like I should have gotten a bonus, but didn't. They just came because I demonstrated my worth. The company only down hill after a round of bad management then HP took over and the company eventually was gone.

After I posted this I realized that we are WAY off the original topic and certainly out of the "Gear section".

 

[david moon]

Well as you approach retirement the various financial "instruments" that you hold might be seen as "gear".

 

[MikeS]

Well as you approach retirement the various financial "instruments" that you hold might be seen as "gear".

or at least as essential as beer...