TMC employee owned company?
Discussion in 'Experienced Truckers' Advice' started by mitmaks, Nov 17, 2019.
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also if i recall about company owned businesses, the employees can hire, fire the members of the board, managers, president, etc,etc..THEY HAVE A SAY, on how it's run, with whom they elect or hire for those upper management jobs.
don't like the managers,..?? YOU'RE FIRED.....!!!!!!FlaSwampRat Thanks this. -
A privately owned company where the officers and employees own all the stock shares. However, a few of the top managers will usually own a majority stake( most of the shares).
Aamcotrans, tscottme, snowlauncher and 4 others Thank this. -
FlaSwampRat Thanks this.
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A lot of companies are employee owned and they even advertise it.
buddyd157 and FlaSwampRat Thank this. -
Tmc you get a amount of stock every year based on how much you worked when you leave they write you a check for what it is worth.
FlaSwampRat and Trucker186 Thank this. -
Yeah the employees "own" 1 per cent and the big bosses own 99 percent
TokyoJoe, Deere hunter, Texas_hwy_287 and 8 others Thank this. -
After a year of employment you begin to earn shares during your time you work there. After 5 years you are fully vested. It's free money, but your "ownership" confers ZERO voting or management rights. It's ownership only by way of being a non-voting shareholder.
basedinMN_, FoolsErrand, 86scotty and 2 others Thank this. -
IMO employee-owned means nothing good or bad about a company. There are as many ways to commit financial fraud using company stock as with cash.
The examples I've seen the e-o companies reward employees with about the same value of stock, once they are eligible, as other companies give their employees toward 401k accounts.
I'm not 100% sure but unless the company is traded on publuc stock exchanges I think the company declares the value of a share. If that's the case that leaves plenty of room for shenanigans. Whether a company is, or is not, employee owned tells me no more about a company than knowing if their street address is an odd or even number.basedinMN_ and FlaSwampRat Thank this. -
From what I’ve been told by new driver, employees owns 51% of the company. You don’t have to do anything except work there. Fully vested after 6 years.
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