TMC employee owned company?

Discussion in 'Experienced Truckers' Advice' started by mitmaks, Nov 17, 2019.

  1. mitmaks

    mitmaks Road Train Member

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    Saw tmc truck said employee owned company. How do employees own this company?
     
  2. buddyd157

    buddyd157 Road Train Member

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    they either buy stock/shares...???

    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.....!!!!!!
     
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  3. buzzarddriver

    buzzarddriver Road Train Member

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    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).
     
  4. buddyd157

    buddyd157 Road Train Member

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    yes, but a leverage buyout is always a possibility if the minions are dissatisfied.
     
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  5. snowwy

    snowwy Road Train Member

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    A lot of companies are employee owned and they even advertise it.
     
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  6. Mid-May Trucker

    Mid-May Trucker Light Load Member

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    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.
     
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  7. Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

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    Yeah the employees "own" 1 per cent and the big bosses own 99 percent
     
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  8. McUzi

    McUzi Heavy Load Member

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    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.
     
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  9. tscottme

    tscottme Road Train Member

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    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.
     
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