June 25, 2023
Think of it this way. Imagine a family has cars to help run their small business. Those cars needs regular maintenance so it goes to a mechanic shop. The mechanic gets paid per repair job. The family business must always be balancing whether to continue fixing or decide when to buy new. When the family meets to decide the fate of some vehicles, this S7-06-22 proposal gives the mechanics votes in the room. So even if the family business was thinking of going in new directions and purchasing different vehicles, the mechanic votes keep the junks in use and the hands of the family tied. Other local investors in the family business lose as service costs rise, employees are let go, clientele drops, all while capital shifts from the family to the mechanics.
This proposal is ridiculous and contravention to basic principles of ownership.