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If you own Boeing stock you only own 0.000000001% of it, or whatever tiny number you have assuming you're a regular person and not a billionaire investor. Most importantly, you have ZERO authority and decision-making into their operations.
Even if you were a Boeing employee and the company became employee-owned you'd have zero say. This is the giant difference between simply "employee-owned" and "employee-owned and managed."
In the former, regular, everyday employees have little to no decision-making. They simply get a bigger share of the pie in the form of stocks, etc. They often have better work conditions than conventional corporations as well.
Co-ops are actually employee owned AND managed. So company decisions are made through bunch of committees where every person's vote counts the same. Pay is also much more equal here as well.
That description to me sounds like a stock holder owns a piece of paper assigned a value, not part of a company.
A value that this idea would pay the stockholder.