The following is an excerpt from an article in The Wall Street Journal:
“Ownership Works determined that joining with private-equity firms, which each own dozens of companies that together can employ hundreds of thousands of workers, was a quick way to make an impact and demonstrate the model to other companies, said Executive Director Anna-Lisa Miller.
“Right now, ownership tends to be concentrated among senior management, and there’s a sense that they are the value creators,” she said. “This is about shifting that mind-set to see employees as true value creators.”
The big Wall Street banks and consulting firms that have signed on will work to introduce the concept to their clients, and large pension funds such as California Public Employees’ Retirement System and Washington State Investment Board will encourage the managers they invest with to consider employee ownership when appropriate.”
Read the full article in The Wall Street Journal.
