Employee Ownership: building a better Bangladesh economy
Stock ownership – Capital – is concentrated among the wealthy, and we the most Bangladeshis have nothing to sell except our labour.
We are here to change this situation through Employee Ownership firms and companies. Our Mission is to connect institutes and industries together for a better living at lowest costs!
Important links:
We are motivated by Mr. Louis O. Kelso
“The Roman arena was technically a level playing field. But on one side were the lions with all the weapons, and on the other the Christians with all the blood. That’s not a level playing field. That’s a slaughter. And so is putting people into the economy without equipping them with capital, while equipping a tiny handful of people with hundreds and thousands of times more than they can use”.
Louis O. Kelso
Center for Economic and Social Justice (CESJ). https://www.cesj.org/kelsofriedmantime70-0629/
The Story of Employee Ownership Bangladesh - Style
We are following Mr. Louis O. Kelso. Our main policy is “wide distribution of stock/shares among Employees by buying a company at NO costs”!
To EMPLOYEES
■ Your company may grow faster and earn more profit than it did in the past—many
employee ownership companies do.
■ You may also receive better wages and benefits. And you will be less likely to be
laid off in a downturn.
■ You may be given opportunities to help your company succeed by actively
participating in decisions about your job.
■ You are likely to build up a better retirement nest egg than if you worked at a
conventional company. Some employee-owners have accumulated hundreds of
thousands of dollars over the years
To company OWNERS
■ You can finance the sale not with the employees’ money but with pretax profits
the company earns in the future.
■ You can preserve the legacy of the business you have worked so hard to build.
You will be protecting the jobs of the people who helped you along the way, and
you will be leaving them in a situation where they are likely to prosper.
■ If you’re not ready to retire, you can decide what role you want to play in the
company, and for how long.
■ You and the other stockholders will receive the full appraised value of your shares,
payable in one lump sum or over time—your choice. If you sell at least 30% of the
shares, you may be eligible to defer taxes on your capital gains.
To political LEADERS and economic-development OFFICIALS
■ Your local economy will be more vibrant and deliver higher productivity.
■ The wealth created will be shared more widely, leading to more broadly based
prosperity.
■ The employee-owned companies will be less likely to move away, and their
employees will be less likely than others to be laid off during a recession.
■ As a leader, you will have the opportunity to champion an economic program that
enjoys broad bipartisan support.
Starting point: The employees of MA DING SHOES LTD will buy shares of MAK LLC LTD at NO costs.
BESOP: Bangladesh Employee Stock Ownership Plan