As an active worker-owner with Weaver Street Market Co-operative these past six years, I have worked hard not only to help WSM be successful as a business, but also as a model for democratic co-operation. It is with regret that I have to report that WSM continues to fail on both counts. It is time now to begin an active, community-wide conversation about the future financial and co-operative direction of WSM, and I invite OrangePolitics to take part in that conversation.
Bottom line: WSM has a crippling long-term debt of $8 million, incurred undemocratically in order to pay for the dubious expansion project of 2007/2008. That debt is costing our co-op millions in capital and interest repayments each year. Hence, the need for the 15% sales increase in 2011. With similar efforts required in the next four years.
It is WSM workers who are having to make those repayments by working ever harder, for less. We get longer opening hours. Less shift hours. Insufficient staff support. Paltry pay raises. And no dividend (haven't seen one for the past three years).
