ESOPs have minted many a paper millionaire. I work for one and it’s a retirement vehicle that’s been often, but not always, outperforming the S&P in our case.
We get ESOP shares as well as 401K match; double the retirement.
Mark Cuban: fight inequality by giving all workers company stock
21–30 of 30 posts
Re: Mark Cuban: fight inequality by giving all workers company stock
#22He’s promoting a way to actually implement trickle down economics. Though I would argue it would probably be better for those workers if the company stock they would be given was sold and that money was converted into a pension fund that was required to maintain a diverse investment portfolio.
Both trickle down, right?
Re: Mark Cuban: fight inequality by giving all workers company stock
#23Works in Mondragon.
Re: Mark Cuban: fight inequality by giving all workers company stock
#24It would improve equity, sure, but a potentially larger impact would be that when "increasing value for shareholders" the shareholders in question are also the employees. It's a lot easier winning a fight against short-term profit taking when a significant portion of the shareholders are figuratively and literally invested in making long-term choices.
Is that something that happens?
I’ve owned company stock and I’ve never noticed a situation where the employees owned enough to make a difference in how the company operates.
The only exception being a company designed to be employee owned…
Re: Mark Cuban: fight inequality by giving all workers company stock
#25So when the company has trouble the employees are potentially out of a job and their stock drops?
This seems like an eggs in one basket situation.
Re: Mark Cuban: fight inequality by giving all workers company stock
#26It would improve equity, sure, but a potentially larger impact would be that when "increasing value for shareholders" the shareholders in question are also the employees. It's a lot easier winning a fight against short-term profit taking when a significant portion of the shareholders are figuratively and literally invested in making long-term choices.
Is that something that happens? I’ve owned company stock and I’ve never noticed a situation where the employees owned enough to make a difference in how the company operates. The only exception being a company designed to be employee owned…
I think the idea is that all companies should be designed to be employee owned for at least a significant part.
Re: Mark Cuban: fight inequality by giving all workers company stock
#27Earlier quoted context omitted.
UBI's have been tried repeatedly and have never worked. They have a bad incentive structure and are simply unaffordable. Unfortunately if you want money you will have to get a job
Nobody can agree how big UBI should be, and people talk past each other. Small UBI, like poverty level, could replace welfare but wouldn't be enough to survive on without doing something about housing and healthcare. Big UBI would be enough for good life, like median income, but not affordable with current economy and create inflation. There is something in between that would be enough to survive, with small UBI, uni…
You've got to start somewhere. Even a small UBI, like the one Alaska has, is better than nothing. Replacing welfare with a UBI at the same level would already be a massive improvement because you'd get rid of the poverty trap. From there you can grow it as much as the economy demands.
Re: Mark Cuban: fight inequality by giving all workers company stock
#28Mark Cuban just reinvented co-ops. Even better; how about Workers take control of the economy instead of having a couple oligarchs run the whole show?
Re: Mark Cuban: fight inequality by giving all workers company stock
#29good on cuban, a good start. but we're still going to need that UBI.
UBI's have been tried repeatedly and have never worked. They have a bad incentive structure and are simply unaffordable. Unfortunately if you want money you will have to get a job
Re: Mark Cuban: fight inequality by giving all workers company stock
#30Earlier quoted context omitted.
Is that something that happens? I’ve owned company stock and I’ve never noticed a situation where the employees owned enough to make a difference in how the company operates. The only exception being a company designed to be employee owned…
I think the idea is that all companies should be designed to be employee owned for at least a significant part.
That seems like a very Cuban "do as I say" kinda thing without much thought to it.