Aug 23, 2017 · 1 min read
Fascinating! I just have a few questions for clarification:
- This proposal makes the buyback essentially a liquidation event, so the shareholders and managers can just leave and let the workers deal with the company on their own, right?
- Would banks be forced to extend credit for daily operations to the cooperative or can they decline to once the buyback process takes place?
- Can the board reject the buyback if the offer is below their valuation? Actually, how does the valuation take place exactly without a stock market consensus?
- Would the government be automatically forced to give out these loans if the vote succeeds? You mentioned a 0% interest rate, so what would the mechanism to adjust for the risk difference between Snap Inc. and Google becoming a cooperative be?
- How does the vote play out with a global company? Do the workers who vote against the cooperative have the option of spinning off or do they just leave?
Thanks in advance for the clarification
