Monday, September 11, 2006

Burley sells out to survive

Burley Design Cooperative is well known for their fantastic bike trailers. The company was also famous for being run as a cooperative, where employees shared in profit/loss and decision making. Sadly, there has been a lot of loss to share in as Burley lost $1.5 million last year and was scheduled for similar losses this year.
In an effort to resurect the dying company, it was recently sold to a local business man. Resulting in massive layoffs, a buy-out of employee shares, and a drastic cut in the product line. However, there is now hope that the company will catch up on its back-log of trailer orders and continue to provide their excelent product.

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