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77-535: Asian Man Records were distributed by Mordam Records . In 2011, Park established the Fun Fun Records sublabel, which released children's music. As of 2015, artists on the Fun Fun label included Mike Park, Dan Potthast , Play Date , Kepi Ghoulie , Happy Wags , and Koo Koo Kanga Roo . The label specializes in mostly ska and punk . The first proper release by the label was Link 80 's 17 Reasons and

154-465: A not-for-profit cooperative (non-share capital co-op), and they underwrite their housing through paying subscriptions or rent. Housing cooperatives come in three basic equity structures Members of a building cooperative (in Britain known as a self-build housing cooperative) pool resources to build housing, normally using a high proportion of their own labor. When the building is finished, each member

231-479: A WEA-affiliated entity called Cinram. In accordance with this agreement, affiliated labels (including those formerly under the Mordam umbrella) were to ship physical goods directly to Cinram warehouse. LMMG hoped for first year sales in the $ 15 to 20 million range, thereby growing business and income of its affiliated labels. LMMG found itself hamstrung by plummeting CD sales and a shift to digital music sales and by

308-455: A collective framework. They open up new horizons for people who have ambition but who lack the skills or confidence needed to set off entirely on their own – or who simply want to carry on an independent economic activity but within a supportive group context. A "purchasing cooperative" is a type of cooperative arrangement, often among businesses, to agree to aggregate demand to get lower prices from selected suppliers. Retailers' cooperatives are

385-449: A difficult financial relationship with Warner Brothers, which in exchange for money loaned to LMMG had negotiated a favorable compensation agreement for itself, ultimately to the detriment of affiliated labels. As 2007 progressed LMMG began to find its financial situation untenable as the retail record industry contracted wildly, and the unfavorable financial situation with respect to WEA became ever more tangled. CEO Hemsath retreated from

462-548: A fundamental challenge to the hegemony of global neoliberal capitalism . Many cooperatives follow the seven Rochdale Principles : Since 2002, ICA cooperatives and WOCCU credit unions could be distinguished by use of a .coop domain. In 2014, ICA introduced the Global Cooperative Marque for use by ICAs Cooperative members and by WOCCU's Credit Union members so they can be further identified by their coop ethical consumerism label. The marque

539-491: A lower cost location in Sacramento . Sales for the company, which had peaked at approximately $ 10 million per year steadily atrophied due to a lessening demand for physical products across the music industry. The departure earlier that year of Lookout Records with its highly marketable catalog, featuring such bands as Green Day, Screeching Weasel , The Queers , and Mr. T Experience , was an important contributing factor in

616-543: A member's investment into the cooperative. In the United States, many cooperatives were formed to provide rural electrical and telephone service as part of the New Deal . See Rural Utilities Service . In the case of electricity, cooperatives are generally either generation and transmission (G&T) co-ops that create and send power via the transmission grid or local distribution co-ops that gather electricity from

693-617: A newspaper, The Cooperator , to promote Owen's thinking, having already set up a cooperative store in Brighton. Also in 1810, Rev. Henry Duncan of the Ruthwell Presbyterian Church in Dumfriesshire, Scotland founded a friendly society to create a cooperative depository institution at which his poorest parishioners could hold savings accounts accruing interest for sickness and old-age , which

770-597: A part of the Lumberjack Mordam Music Group. With record sales in decline throughout the industry, the company went out of business in 2009. Independent record companies are frequently started by music fans, for many of whom commerce is secondary and financial skills are minimal. Customarily such record labels send their finished products to intermediaries known as "distributors" on consignment , with these middlemen adding an additional markup and selling these goods in bulk to retail outlets. The label

847-615: A proportion of trading profits back into their communities. As an example of this, in 2013, retail co-operatives in the UK invested 6.9% of their pre-tax profits in the communities in which they trade, compared to 2.4% for rival supermarkets. Since 2002, cooperatives have been distinguishable on the Internet through the use of a .coop domain. In 2014, the International Co-operative Alliance (ICA) introduced

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924-512: A public place every year. Despite the short duration of its existence, until 1851, it thus formed the basis of the cooperative movement in Slovakia. Slovak national thinker Ľudovít Štúr said about the association: " We would very much like such excellent constitutions to be established throughout our region. They would help to rescue people from evil and misery. A beautiful, great idea, a beautiful excellent constitution! " Other events such as

1001-575: A range of social characteristics. Membership is open, meaning that anyone who satisfies certain non-discriminatory conditions may join. Economic benefits are distributed proportionally to each member's level of participation in the cooperative, for instance, by a dividend on sales or purchases, rather than according to capital invested. Cooperatives may be classified as either worker , consumer , producer , purchasing or housing cooperatives. They are distinguished from other forms of incorporation in that profit-making or economic stability are balanced by

1078-554: A result of the merger. At least some existing labels were allowed to keep their former "at will" exclusive distribution contracts. With the comparatively small Lumberjack Distribution (owned by Dirk Hemsath of Doghouse Records ) absorbing the powerful and established Mordam to form LMMG, a revamped and expanded system of sales and shipping was needed. A contract was signed with WEA, the distribution arm of major label Warner Brothers Music calling for WEA to directly pick, pack, and ship music to certain national chain store accounts via

1155-416: A safe umbrella for smaller labels to survive under and uses their strength in numbers. Distributors then use that collective strength to send the music out and collect the money that comes back in. They take a fee or percentage of sales for their services and cut the labels a check at regular intervals. In turn, the labels are supposed to pay royalties to their artists from those music sales." Mordam Records

1232-470: A secure income. The innovation BECs introduce is that once the businesses are established, the entrepreneurs are not forced to leave and set up independently, but can stay and become full members of the cooperative. The micro-enterprises then combine to form one multi-activity enterprise whose members provide a mutually supportive environment for each other. BECs thus provide budding business people with an easy transition from inactivity to self-employment, but in

1309-922: A significant market share in Europe and Latin America, as well as a few countries in Sub-Saharan Africa. They also have a strong presence in Asia, Australia, and the United States. According to the World Council of Credit Unions (WOCCU), there were 68,882 financial cooperatives in 109 countries in 2016, serving more than 235 million members, with total assets exceeding 1.7 trillion dollars. The WOCCU's data do not include some major financial cooperative networks in Europe, such as Germany, Finland, France, Denmark, and Italy. In many high-income economies, financial cooperatives hold significant market shares of

1386-494: A thousand cooperative societies in the United Kingdom. "Spolok Gazdovský" ( The Association of Administrators or The Association of Farmers ) founded in 1845 by Samuel Jurkovič, was the first cooperative in Europe ( Credit union ). The cooperative provided a cheap loan from funds generated by regular savings for members of the cooperative. Members of cooperative had to commit to a moral life and had to plant two trees in

1463-555: A trust that owns the company. The impact of political ideology on practice constrains the development of cooperatives in different countries. In India, there is a form of workers' cooperative which insists on compulsory membership for all employees and compulsory employment for all members. That is the form of the Indian Coffee Houses . This system was advocated by the Indian communist leader A. K. Gopalan . In places like

1540-554: A useful condition of artificial roads such as Viamala in 1472. Pre-industrial Europe is home to the first cooperatives from an industrial context. The roots of the cooperative movement can be traced to multiple influences and extend worldwide. In the English-speaking world , post- feudal forms of cooperation between workers and owners that are expressed today as " profit sharing " and "surplus sharing" arrangements existed as far back as 1795. The key ideological influence on

1617-446: A variety of sources and send it along to homes and businesses. In Tanzania, it has been proven that the cooperative method is helpful in water distribution. When the people are involved with their own water, they care more because the quality of their work has a direct effect on the quality of their water. Credit unions are cooperative financial institutions owned and controlled by their members. Credit unions provide to its members

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1694-596: A wholesale producers' cooperative — or in its own words, "a group of record labels and publishers who sell their products together." Labels associating themselves with Mordam granted the company exclusive distribution rights, with the company selling products to other wholesale distributors around the world as well as dealing directly with hundreds of record stores. The company produced monthly photocopied flyers detailing "new releases" of associated labels as well as semi-annual catalogs depicting and describing all available titles each fall and spring. Building its business upon

1771-404: Is "an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise ". Cooperatives are democratically controlled by their members, with each member having one vote in electing the board of directors. They differ from collectives in that they are generally built from

1848-481: Is released in stages as the building is completed. The term may also refer to worker cooperatives in the building trade. A utility cooperative is a type of consumers' cooperative that is tasked with the delivery of a public utility such as electricity, water or telecommunications services to its members. Profits are either reinvested into infrastructure or distributed to members in the form of "patronage" or "capital credits", which are essentially dividends paid on

1925-410: Is the sole owner of a homestead, and the cooperative may be dissolved. This collective effort was at the origin of many of Britain's building societies , which however, developed into "permanent" mutual savings and loan organisations, a term which persisted in some of their names (such as the former Leeds Permanent ). Nowadays such self-building may be financed using a step-by-step mortgage which

2002-413: Is thus placed in a position of making a loan of its products to its distributors, hoping that sales will be made and money returned in compensation. Prior to 2005 the bulk of the recorded music purchased in the United States happened through major retail chains such as Borders , Barnes & Noble and Walmart , and the like. The only way for an independent record label to gain access to these channels

2079-421: Is used today by thousands of cooperatives in more than a hundred countries. The .coop domain and Co-operative Marque were designed as a new symbol of the global cooperative movement and its collective identity in the digital age. The Co-operative Marque and domain is reserved just for co-operatives, credit unions and organisations that support co-operatives; is distinguished by its ethical badge that subscribes to

2156-736: The Gaeltacht in Ireland and the Highlands and Islands of Scotland. A worker cooperative or producer cooperative is a cooperative owned and democratically controlled by its "worker-owners". In a pure worker cooperative, only the workers own shares of the business on a one person, one vote basis, though hybrid forms exist in which consumers, community members or investors also own some shares (though these shares may or may not have voting power). In practice, control by worker-owners may be exercised through individual, collective or majority ownership by

2233-572: The New Lanark mill from Owen's father-in-law, David Dale , and proceeded to introduce better labour standards, including discounted retail shops where profits were passed on to his employees. Owen left New Lanark to pursue other forms of cooperative organization and develop coop ideas through writing and lecture. Cooperative communities were set up in Glasgow , Indiana and Hampshire , although ultimately unsuccessful. In 1828, William King set up

2310-439: The 'Urgenossen'. A community cooperative is owned and governed by members of a local geographical community. It is established to meet the community's needs by providing goods or services that are not available or affordable through traditional market channels. This is distinct from meeting individuals' needs as individuals. The aim of a community cooperative is often to create a more equitable and sustainable economy that serves

2387-583: The Anglosphere branch of the cooperative movement, however, was a rejection of the charity principles that underpinned welfare reforms when the British government radically revised its Poor Laws in 1834. As both state and church institutions began to routinely distinguish between the 'deserving' and 'undeserving' poor, a movement of friendly societies grew throughout the British Empire based on

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2464-534: The Cooperative Marque, meaning ICA cooperatives and WOCCU credit unions can also be identified through a coop ethical consumerism label. Cooperation dates back as far as human beings have been organizing for mutual benefits. Tribes were organized as cooperative structures, allocating jobs and resources among each other, only trading with the external communities. In alpine environments, trade could only be maintained in organized cooperatives to achieve

2541-644: The International Raiffeisen Union. In the United States, the National Cooperative Business Association (NCBA CLUSA; the abbreviation of the organization retains the initials of its former name, Cooperative League of the USA) serves as the sector 's oldest national membership association. It is dedicated to ensuring that cooperative businesses have the same opportunities as other businesses operating in

2618-509: The John Lewis Partnership, where profits are distributed to the workers, but at the discretion of a senior elected board. Business and employment cooperatives (BECs) are a subset of worker cooperatives that represent a new approach to providing support to the creation of new businesses. Like other business creation support schemes, BEC's enable budding entrepreneurs to experiment with their business idea while benefiting from

2695-643: The Netherlands, Rabobank holds 34% of deposits, and in France cooperative banks (Crédit Agricole, Crédit Mutuel and BPCE Group) possess more than 59% of domestic credit and 61% of domestic deposits. In Finland, OP financial group holds 35% and 38% of domestic credit and deposits, respectively, and in Canada, Desjardins holds around 42% of domestic deposits and 22% of domestic credit. There are many types of cooperative financial institutions with different names across

2772-537: The SKOK ( Spółdzielcze Kasy Oszczędnościowo-Kredytowe ) network grew to serve over 1 million members via 13,000 branches, and was larger than the country's largest conventional bank. In the Scandinavia , there is a clear distinction between mutual savings banks (Sparbank) and true credit unions (Andelsbank). The oldest cooperative banks in Europe, based on the ideas of Friedrich Raiffeisen, are joined in

2849-457: The UK, common ownership (indivisible collective ownership) was popular in the 1970s. Cooperative Societies only became legal in Britain after the passing of Slaney's Act in 1852. In 1865 there were 651 registered societies with a total membership of well over 200,000. There are now more than 400 worker cooperatives in the UK, Suma Wholefoods being the largest example with a turnover of £24 million. There also exist some pseudo-cooperatives, such as

2926-627: The United States, Italy, or France. A consumers' cooperative is a business owned by its customers. Members vote on major decisions and elect the board of directors from among their own number. The first of these was set up in 1844 in the North-West of England by 28 weavers who wanted to sell food at a lower price than the local shops. Retail cooperatives are retailers, such as grocery stores, owned by their customers. They should not be confused with retailers' cooperatives, whose members are retailers rather than consumers. In Singapore, Italy, and Finland

3003-651: The banking sector. According to the European Association of Cooperative Banks, the market share of cooperative banks in the Small and Medium Enterprises (SMEs) credit market by the end of 2016 was 37% in Finland, 45% in France, 33% in Germany, 43% in the Netherlands, and 22% in Canada. In Germany, Volksbanken-Raiffeisen banks have a market share of approximately 21% of domestic credit and domestic deposits. In

3080-534: The bottom-up, rather than the top-down. Cooperatives may include: The Research published by the Worldwatch Institute found that in 2012 approximately one billion people in 96 countries had become members of at least one cooperative. The turnover of the largest three hundred cooperatives in the world reached $ 2.2 trillion . Worker cooperatives are typically more productive and economically resilient than many other forms of enterprise, with twice

3157-433: The company with the largest market share in the grocery store sector is a consumer owned cooperative. In Switzerland both the largest and the second largest retailer are consumer owned cooperatives. A housing cooperative is a legal mechanism for ownership of housing where residents either own shares (share capital co-op) reflecting their equity in the cooperative's real estate or have membership and occupancy rights in

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3234-433: The constraints of various systems of national law) is the principle that an enterprise or association should be owned and controlled by the people it serves, and share any surpluses on the basis of each member's cooperative contribution (as a producer, labourer or consumer) rather than their capacity to invest financial capital. The International Co-operative Alliance was the first international association formed (1895) by

3311-642: The cooperative movement. It includes the World Council of Credit Unions . The International Cooperative Alliance was founded in London, England on 19 August 1895 during the 1st Cooperative Congress. In attendance were delegates from cooperatives from Argentina, Australia, Belgium, England, Denmark, France, Germany, Holland, India, Italy, Switzerland, Serbia, and the US. A second organization formed later in Germany:

3388-702: The country and that consumers have access to cooperatives in the marketplace. In 1945 Artturi Ilmari Virtanen received the Nobel Prize in Chemistry for his invention of the AIV silage . This invention improved milk production and created a method of preserving butter, the AIV salt, which led to increased Finnish butter exports. He had started his career in chemistry in Valio , a cooperative of dairy farmers in which he headed

3465-481: The faltering financial fortunes of the company which necessitated a change of location. The new Mordam site was 731 N Market Blvd., Unit R in Sacramento from the end of 2000 onwards. In a further effort to economize, catalog production shifted from a semi-annual to an annual basis beginning in 2001. After about 20 years in the record business, Mordam owner Ruth Schwartz began to feel alienated from her job and

3542-402: The firm, however, since affiliated labels contractually retained the right to walk away from the exclusive distribution agreement with the Mordam at will. A suitor was found in the form of Lumberjack Distribution , a somewhat younger wholesale distribution operation built around Doghouse Records which CEO Dirk Hemsath declared had been built "in what we perceived as Mordam's image." Price of

3619-850: The first in Europe. By 2004 a new association focused on worker co-ops was founded, the United States Federation of Worker Cooperatives . The cooperative movement has been fueled globally by ideas of economic democracy . Economic democracy is a socioeconomic philosophy that suggests an expansion of decision-making power from a small minority of corporate shareholders to a larger majority of public stakeholders. There are many different approaches to thinking about and building economic democracy. Anarchists are committed to libertarian socialism and have focused on local organization, including locally managed cooperatives, linked through confederations of unions, cooperatives and communities. Marxists, who as socialists have likewise held and worked for

3696-518: The form of the state . Though they regard the state as an unnecessarily oppressive institution, Marxists considered appropriating national and international-scale capitalist institutions and resources (such as the state) to be an important first pillar in creating conditions favorable to solidaristic economies. With the declining influence of the USSR after the 1960s, socialist strategies pluralized, though economic democratizers have not as yet established

3773-474: The founding of a friendly society by the Tolpuddle Martyrs in 1832 were key occasions in the creation of organized labor and consumer movements. Friendly Societies established forums through which one member, one vote was practiced in organisation decision-making. The principles challenged the idea that a person should be an owner of property before being granted a political voice. Throughout

3850-444: The goal of democratizing productive and reproductive relationships, often placed a greater strategic emphasis on confronting the larger scales of human organization. As they viewed the capitalist class to be politically, militarily and culturally mobilized for the purpose of maintaining an exploitable working class, they fought in the early 20th century to appropriate from the capitalist class the society's collective political capacity in

3927-508: The interests of the community. There are specific forms of incorporation for cooperatives in some countries, e.g. Finland and Australia. Cooperatives may take the form of companies limited by shares or by guarantee, partnerships or unincorporated associations. In the UK they may also use the industrial and provident society structure. In the US, cooperatives are often organized as non-capital stock corporations under state-specific cooperative laws. Cooperatives often share their earnings with

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4004-487: The label has since gone on to release recordings by punk heavyweights such as Alkaline Trio and Less Than Jake . Other artists released include: Mordam Records Mordam Records ("More Damn Records") was a California record distribution company for independent record labels . It was founded in San Francisco in 1983 as an independent punk distribution company by Ruth Schwartz (one of

4081-550: The lucrative Dead Kennedys catalog of San Francisco's Alternative Tentacles records and monthly sales of the popular Maximum Rocknroll magazine, Mordam initially concentrated on labels hailing from the Pacific coast , including California labels Allied Recordings , Lookout Records , Flipside Records , Dr. Strange Records , and Sympathy for the Record Industry as well as Empty Records and Kill Rock Stars from

4158-427: The membership as dividends , which are divided among the members according to their participation in the enterprise, such as patronage, instead of according to the value of their capital shareholdings (as is done by a joint stock company ). The cooperative share capital or co-operative share capital (in short cooperative capital or co-operative capital ) is the form of capital that the cooperative accumulates from

4235-435: The music scene. People born after 1980 are jumpy. They move fast. When businesses were going down 20 percent, people started to bail." Schwartz recognized that the future of Mordam, if it was to survive, would be as a service company — a digital aggregator and distributor. Exhausted and unwilling to adapt to the changing business environment, Schwartz began to seek a purchaser for Mordam Records. She found it difficult to sell

4312-443: The needs of local residents, rather than generating profits for external shareholders. By working together and pooling resources, members can often achieve economies of scale, negotiate better prices, and develop services that better meet the needs of their community. Community cooperatives can also help to build social capital and foster a sense of community ownership and pride. They have been successful vehicles for rural development in

4389-504: The number of co-operatives (80%) surviving their first five years compared with other business ownership models (44%) according to data from United Kingdom. The largest worker owned cooperative in the world, the Mondragon Corporation (founded by Catholic priest José María Arizmendiarrieta ), has been in continuous operation since 1956. Cooperatives frequently have social goals, which they aim to accomplish by investing

4466-486: The original co-editors of Maximum RocknRoll ). Mordam was the exclusive distributor for dozens of punk rock and independent record labels throughout the 1980s and 90s, gaining a reputation as one of the few "distros" that paid their labels on time. Following the departure of Lookout! Records and Man's Ruin from its distribution network in 2000, Schwartz moved the company to Sacramento . She subsequently sold Mordam outright to Lumberjack Distribution in 2005. It continued as

4543-451: The paid participation shares of its members. The total amount of participation shares the paid to the cooperative constitutes the cooperative capital. The co-operative share capital is usually non-withdrawable and indivisible to the cooperative members. The top 300 largest cooperatives were listed in 2007 by the International Co-operative Alliance . 80% were involved in either agriculture , finance , or retail and more than half were in

4620-546: The principle of mutuality, committed to self-help in the welfare of working people. In 1761, the Fenwick Weavers' Society was formed in Fenwick, East Ayrshire , Scotland to sell discounted oatmeal to local workers. Its services expanded to include assistance with savings and loans, emigration and education. In 1810, Welsh social reformer Robert Owen , from Newtown in mid- Wales , and his partners purchased

4697-426: The record industry as a whole. Moreover, digital music distribution had begun to entrench itself, shifting the form of the production-distribution business model. In a 2009 interview Schwartz recalled: "I was tired and pissed off.... I did not have a good attitude any more. 'I hate my job. I hate the industry. I gotta get out of here'.... [There was] also a generational divide with a lot of younger people coming into

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4774-447: The record label owned by Dead Kennedys frontman Jello Biafra . The label quickly gained a reputation with its associate labels for fair-dealing and timeliness, with Lee Joseph of Dionysus Records recalling that "checks arrived the same time every month with a statement" from the beginning of his association with Mordam in 1985 until its termination — a situation which Joseph categorized as "fabulous." The company depicted itself as

4851-466: The research department for 50 years and where all his major inventions were first put to practice. Cooperative banks were first to adopt online banking. Stanford Federal Credit Union was the first financial institution to offer online internet banking services to all of its members in October 1994. In 1996 OP Financial Group , also a cooperative bank , became the second online bank in the world and

4928-526: The rise of trade unions and industrial factories. Weinbren reports that by the end of the 19th century, over 80% of British working age men and 90% of Australian working age men were members of one or more Friendly Society. From the mid-nineteenth century, mutual organisations embraced these ideas in economic enterprises, firstly among tradespeople, and later in cooperative stores, educational institutes, financial institutions and industrial enterprises. The common thread (enacted in different ways, and subject to

5005-545: The sale was said to be in the range of $ 200,000 to $ 300,000. The new combined entity adopted the name Lumberjack Mordam Music Group (LMMG), with Hemsath taking on the role of CEO and President. The purchase meant a change of business terms for the Mordam-affiliated labels, with Mordam's former voluntary "at will" affiliation agreements to be replaced by contractual exclusivity agreements. A handful of labels including Dirtnap Records and Adeline Records exited as

5082-457: The same services as banks but are considered not-for-profit organizations and adhere to cooperative principles . Credit unions originated in mid-19th-century Germany through the efforts of pioneers Franz Herman Schulze'Delitzsch and Friedrich Wilhelm Raiffeisen . The concept of financial cooperatives crossed the Atlantic at the turn of the 20th century, when the caisse populaire movement

5159-434: The second half of the nineteenth century (and then repeatedly every twenty years or so) there was a surge in the number of cooperative organisations, both in commercial practice and civil society, operating to advance democracy and universal suffrage as a political principle. Friendly Societies and consumer cooperatives became the dominant form of organization among working people in Anglosphere industrial societies prior to

5236-482: The seven ICA Cooperative Principles and Co-op Values. Co-ops can be identified on the Internet through the use of the .coop suffix of internet addresses . Organizations using .coop domain names must adhere to the basic co-op values. A cooperative is a legal entity owned and democratically controlled by its members. Members often have a close association with the enterprise as producers or consumers of its products or services, or as its employees. The legal entities have

5313-481: The state of Washington . Mordam Records also manufactured and distributed a small number of titles under its own name, featuring such punk-noise bands as Victims Family and Rhythm Pigs . Through 2000 Mordam maintained a warehouse and sales office located at 2020 Cesar Chavez Blvd. in San Francisco. Late in 2000, with sales declining throughout the music industry, Mordam moved from costly San Francisco to

5390-584: The time of its termination in May 2009. LMMG was notified by the Ohio Secretary of State on April 20, 2009 that its articles of incorporation had been canceled by the state and that it was "not in good standing." The company's operations were abruptly halted shortly thereafter with the company remaining in arrears to many of its affiliated labels. Cooperative A cooperative (also known as co-operative , co-op , or coop )

5467-410: The wholesale operation to dedicate attention to his successful label, which had since moved to New York City. By 2008 payments to labels had fallen well behind schedule. As payments were missed and contracts expired, labels would leave the distributor, further contracting revenue. New labels were added in an attempt to fill the gap, with a total of 116 independent labels ultimately attached to LMMG by

5544-413: The workforce, or the retention of individual, collective or majority voting rights. A worker cooperative, therefore, has the characteristic that the majority of its workforce owns shares, and the majority of shares are owned by the workforce. Membership is not always compulsory for employees, but generally, only employees can become members either directly (as shareholders) or indirectly through membership of

5621-678: The world, including financial cooperatives ('cooperativa financiera' is the Spanish term used in Latin America), cooperative banks, credit unions, and savings and credit cooperatives ('cooperativa de ahorro y crédito' in Spanish or ' coopérative d'épargne et de credit ' in French-speaking countries). Cooperative banking networks, which were nationalized in Eastern Europe, continued as cooperative institutions. In Poland,

5698-447: Was one such independent record distributor, concentrating on the wholesale sale of punk rock records, compact discs, and magazines. Mordam Records (the name a play on "More Damn Records") was established in 1983 in San Francisco, California, by Ruth Schwartz, an original co-editor of Maximum RocknRoll (MRR). The company's survival and growth was fueled by its exclusive distribution agreements with MRR and Alternative Tentacles,

5775-714: Was started by Alphonse Desjardins in Quebec, Canada. In 1900, from his home in Lévis , he opened North America's first credit union, marking the beginning of the Mouvement Desjardins . Eight years later, Desjardins provided guidance for the first credit union in the United States , where there are now about 7,950 active status federally insured credit unions, with almost 90 million members and more than $ 679 billion on deposit. Financial cooperatives hold

5852-639: Was the first established savings bank that would be merged into the Trustee Savings Bank between 1970 and 1985. The Rochdale Society of Equitable Pioneers , founded in 1844, is usually considered the first successful cooperative enterprise, used as a model for modern coops, following the ' Rochdale Principles '. A group of 28 weavers and other artisans in Rochdale , England set up the society to open their own store selling food items they could not otherwise afford. Within ten years there were over

5929-539: Was through well-connected distributors. With many retail chains and large, corporate distributors slow to pay and demand for new and fresh products driving the market, it was frequently only the fear of being denied the expeditious delivery of new releases that motivated payment — a coercive mechanism difficult for a small label to generate. Explains independent record industry veteran Todd Taylor: "The ideal label works on making and releasing quality music it believes in. The ideal independent distributor works toward creating

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