That's why I said "necessarily."

>What I described (bonuses over reinvestment) is a decision shareholders (employees) get to make.

Sure, My only point is there's nothing about being employee-owned that requires or even encourages allowing employees to vote on how money is spent, or anything at all for that matter. A privately owned company is just as likely to consider input from employees as an employee-owned company is.

Both employee owned companies I worked for the board made those sorts of decisions without any say from employees.