Attorney at Law Specializing in employee ownership and cooperatives
Attorney at Law
Specializing in employee ownership and cooperatives
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Mustard Tree Co-op is a 23 unit non-profit housing cooperative in Detroit’s Island View neighborhood, originally founded by Church of the Messiah. Attorney Olson helped them obtain their independent IRS 501(c)(3) status in the 1980’s and has represented them ever since.
Southwest Detroit Construction Cooperative (SWDCC), Painting and Plastering and Janitorial Cooperatives – to be sustainable most (but especially inner-city) worker co-ops need a supporting joint business resource or community support organization. That is why the Mondragon, Emilia Romagna, Evergreen Cooperatives in Cleveland, WAGES and the Arizmendi Co-ops in Berkley have all created mutual support organizations for back office and business development functions. SWDCC’s story explains why that is.
Unprofitable subsidiaries are often offered for sale to employees. Employees should approach such opportunities with care and predicate their actions on feasibility studies conducted by skilled consultants who know when to say no to a bad idea. The feasibility and success of the Franklin Forge worker buyout depended on a number of factors including strength and skill of both the workers and management, the community's need for ht plant, the fact that the workers initiated the buyout, and the parent corporations' motivation to sell at a low price and make the deal work.
MBC Ventures, Inc. (formerly “Maryland Brush Company”)A 100% employee owned old industrial company develops new green tech product with money saved as an S corporation ESOP.
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