Get a grip! The Co-operative Group is only one of 6000 co-operatives/mutuals in the country
Media, large retail and banking interests give the impression that because one co-operative group is in difficulties the future of the whole movement is in doubt.
As Ed Mayo reminded Radio 4 listeners today, the Co-operative Group is only one of 6000 co-operatives in the country. Worldwide there are an estimated billion co-operators.
There are many regional independent co-operative groups doing well – an outstanding example being the Lincolnshire Co-operative. Above is a section of one poster; to its achievements should be added local sourcing, its renewable energy commitments and its assistance to the new University of Lincoln.
Despite the avid attention given to the Co-op Bank’s situation, readers should remember that it has not been bailed out by public money like Lloyds and RBS.
The Co-operative Group developed a corporate ‘big is beautiful’ approach – and believed in centralising control; it now suffers the consequence.
Those members who have sturdily refused to fall in line behind the vastly overpaid Euan Sutherland may yet be its salvation.an Sutherland may yet be its salvation.
Posted on March 11, 2014, in Banking and finance, Vested interests and tagged Co-operative Bank, Daily Bread, Ed Mayo, Euan Sutherland, Lincolnshire Co-operative, Lloyds, RBS, The Co-operative Group. Bookmark the permalink. Leave a comment.