Starting in the Reagan 1980s, unscrupulous corporate raiders began to take advantage of those antique flaws in the law. They ruined lives by skimming billions from pension funds and leaving aged workers to starve in poverty. That vulnerability still exists. Workers should not only be able to democratically control their own money, but also should be able to freely invest it in their own companies. Employees should not be able to take over only when the company has no other choice but folding, as in the case of many steel mills.
Workers can individually buy stock on the open market right now.
Give them the choice to use their health and welfare and retirement funds to buy more without management having an equal say. Wall Street will love it and the increasing employee influence will create more harmonious and rewarding workplaces. Perhaps one day Michael Eisner won't make more in a year than the Nevada gambling industry pays in gross gaming tax. Money is power and workers should be allowed to use their own to better themselves. Let's go to work on it.