78-480: Magnum Photos is an international photographic cooperative owned by its photographer-members, with offices in Paris, New York City, London and Tokyo. It was founded in 1947 in Paris by photographers Robert Capa , David "Chim" Seymour , Maria Eisner , Henri Cartier-Bresson , George Rodger , William Vandivert , and Rita Vandivert. Its photographers retain all copyrights to their own work. In 2010, MSD Capital acquired
156-460: A not-for-profit cooperative (non-share capital co-op), and they underwrite their housing through paying subscriptions or rent. Housing cooperatives come in three basic equity structures Members of a building cooperative (in Britain known as a self-build housing cooperative) pool resources to build housing, normally using a high proportion of their own labor. When the building is finished, each member
234-530: A breach of their code of conduct. He received a one-year suspension from Magnum "over a separate allegation of harassing a female colleague" in October 2020. A subsequent December 2020 article in Columbia Journalism Review detailed sexual misconduct allegations by eleven separate women including incidents where Harvey masturbated during video calls without prior consent. As of March 17, 2021, Harvey
312-496: A collection of nearly 200,000 original press prints of images taken by Magnum photographers, which in 2013 it donated to the Harry Ransom Center . Magnum was founded in Paris in 1947 by Robert Capa , David "Chim" Seymour , Henri Cartier-Bresson , George Rodger and William Vandivert (all photographers), Rita Vandivert and Maria Eisner , based on an idea of Capa's. (Seymour, Cartier-Bresson and Rodger were all absent from
390-455: A collective framework. They open up new horizons for people who have ambition but who lack the skills or confidence needed to set off entirely on their own – or who simply want to carry on an independent economic activity but within a supportive group context. A "purchasing cooperative" is a type of cooperative arrangement, often among businesses, to agree to aggregate demand to get lower prices from selected suppliers. Retailers' cooperatives are
468-438: A form of purchasing cooperative. Major purchasing cooperatives include Best Western , ACE Hardware and CCA Global Partners . Agricultural service cooperatives provide various services to their individual farming members, and to agricultural production cooperatives , where production resources such as land or machinery are pooled and members farm jointly. David Alan Harvey David Alan Harvey (born June 6, 1944)
546-537: A fundamental challenge to the hegemony of global neoliberal capitalism . Many cooperatives follow the seven Rochdale Principles : Since 2002, ICA cooperatives and WOCCU credit unions could be distinguished by use of a .coop domain. In 2014, ICA introduced the Global Cooperative Marque for use by ICAs Cooperative members and by WOCCU's Credit Union members so they can be further identified by their coop ethical consumerism label. The marque
624-531: A member's investment into the cooperative. In the United States, many cooperatives were formed to provide rural electrical and telephone service as part of the New Deal . See Rural Utilities Service . In the case of electricity, cooperatives are generally either generation and transmission (G&T) co-ops that create and send power via the transmission grid or local distribution co-ops that gather electricity from
702-593: A newspaper, The Cooperator , to promote Owen's thinking, having already set up a cooperative store in Brighton. Also in 1810, Rev. Henry Duncan of the Ruthwell Presbyterian Church in Dumfriesshire, Scotland founded a friendly society to create a cooperative depository institution at which his poorest parishioners could hold savings accounts accruing interest for sickness and old-age , which
780-545: A partnership with the Harry Ransom Center at The University of Texas at Austin to preserve, catalog, and make photographs available to the general public. In September 2013 it was announced MSD Capital donated the collection to the Ransom Center. A preliminary inventory is available for researchers who wish to use the collection. The Graduate Photographers Award was established in 2015. Cooperative A cooperative (also known as co-operative , co-op , or coop )
858-593: A proportion of trading profits back into their communities. As an example of this, in 2013, retail co-operatives in the UK invested 6.9% of their pre-tax profits in the communities in which they trade, compared to 2.4% for rival supermarkets. Since 2002, cooperatives have been distinguishable on the Internet through the use of a .coop domain. In 2014, the International Co-operative Alliance (ICA) introduced
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#1732858158286936-507: A public place every year. Despite the short duration of its existence, until 1851, it thus formed the basis of the cooperative movement in Slovakia. Slovak national thinker Ľudovít Štúr said about the association: " We would very much like such excellent constitutions to be established throughout our region. They would help to rescue people from evil and misery. A beautiful, great idea, a beautiful excellent constitution! " Other events such as
1014-575: A range of social characteristics. Membership is open, meaning that anyone who satisfies certain non-discriminatory conditions may join. Economic benefits are distributed proportionally to each member's level of participation in the cooperative, for instance, by a dividend on sales or purchases, rather than according to capital invested. Cooperatives may be classified as either worker , consumer , producer , purchasing or housing cooperatives. They are distinguished from other forms of incorporation in that profit-making or economic stability are balanced by
1092-470: A secure income. The innovation BECs introduce is that once the businesses are established, the entrepreneurs are not forced to leave and set up independently, but can stay and become full members of the cooperative. The micro-enterprises then combine to form one multi-activity enterprise whose members provide a mutually supportive environment for each other. BECs thus provide budding business people with an easy transition from inactivity to self-employment, but in
1170-894: A significant market share in Europe and Latin America, as well as a few countries in Sub-Saharan Africa. They also have a strong presence in Asia, Australia, and the United States. According to the World Council of Credit Unions (WOCCU), there were 68,882 financial cooperatives in 109 countries in 2016, serving more than 235 million members, with total assets exceeding 1.7 trillion dollars. The WOCCU's data do not include some major financial cooperative networks in Europe, such as Germany, Finland, France, Denmark, and Italy. In many high-income economies, financial cooperatives hold significant market shares of
1248-486: A statement Magnum said it will re-examine the content of its archive, and has since made its website available again but without Harvey's Bangkok series. Harvey was later suspended for a year following a formal investigation into sexual misconduct allegations against him. In February 2010, Magnum announced that Michael Dell 's venture capital firm MSD Capital had acquired a collection of nearly 200,000 original press prints of images taken by Magnum photographers. It had formed
1326-487: A thousand cooperative societies in the United Kingdom. "Spolok Gazdovský" ( The Association of Administrators or The Association of Farmers ) founded in 1845 by Samuel Jurkovič, was the first cooperative in Europe ( Credit union ). The cooperative provided a cheap loan from funds generated by regular savings for members of the cooperative. Members of cooperative had to commit to a moral life and had to plant two trees in
1404-542: A trust that owns the company. The impact of political ideology on practice constrains the development of cooperatives in different countries. In India, there is a form of workers' cooperative which insists on compulsory membership for all employees and compulsory employment for all members. That is the form of the Indian Coffee Houses . This system was advocated by the Indian communist leader A. K. Gopalan . In places like
1482-546: A useful condition of artificial roads such as Viamala in 1472. Pre-industrial Europe is home to the first cooperatives from an industrial context. The roots of the cooperative movement can be traced to multiple influences and extend worldwide. In the English-speaking world , post- feudal forms of cooperation between workers and owners that are expressed today as " profit sharing " and "surplus sharing" arrangements existed as far back as 1795. The key ideological influence on
1560-446: A variety of sources and send it along to homes and businesses. In Tanzania, it has been proven that the cooperative method is helpful in water distribution. When the people are involved with their own water, they care more because the quality of their work has a direct effect on the quality of their water. Credit unions are cooperative financial institutions owned and controlled by their members. Credit unions provide to its members
1638-477: A year, called the Annual General Meeting (AGM). Photographers with the status of contributor or correspondent are represented by Magnum but have no voting rights. Full members can choose to become contributors after 23 years of membership; this status gives them increased liberty to work outside Magnum, at the cost of their voting rights. In the early years of Magnum, membership had generally come about by
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#17328581582861716-404: Is "an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise ". Cooperatives are democratically controlled by their members, with each member having one vote in electing the board of directors. They differ from collectives in that they are generally built from
1794-643: Is an American photographer, based in The Outer Banks , North Carolina and New York City . He was a full member of the Magnum Photos agency from 1997 to 2020 and has photographed extensively for National Geographic magazine. In 1978 Harvey was named Magazine Photographer of the Year by the National Press Photographers Association . He is the founder and curator of Burn, a website showing
1872-551: Is making a comeback". One of Harvey's photographs of a father and daughter from Malaysia is included on the Voyager Golden Record . He is founder and curator of Burn, a website showing the work of emerging photographers, launched in 2008. He is based in The Outer Banks , North Carolina and New York City . In August 2020, the Magnum Photos website was taken offline after "issues were raised by two articles on
1950-481: Is released in stages as the building is completed. The term may also refer to worker cooperatives in the building trade. A utility cooperative is a type of consumers' cooperative that is tasked with the delivery of a public utility such as electricity, water or telecommunications services to its members. Profits are either reinvested into infrastructure or distributed to members in the form of "patronage" or "capital credits", which are essentially dividends paid on
2028-410: Is the sole owner of a homestead, and the cooperative may be dissolved. This collective effort was at the origin of many of Britain's building societies , which however, developed into "permanent" mutual savings and loan organisations, a term which persisted in some of their names (such as the former Leeds Permanent ). Nowadays such self-building may be financed using a step-by-step mortgage which
2106-421: Is used today by thousands of cooperatives in more than a hundred countries. The .coop domain and Co-operative Marque were designed as a new symbol of the global cooperative movement and its collective identity in the digital age. The Co-operative Marque and domain is reserved just for co-operatives, credit unions and organisations that support co-operatives; is distinguished by its ethical badge that subscribes to
2184-721: The Gaeltacht in Ireland and the Highlands and Islands of Scotland. A worker cooperative or producer cooperative is a cooperative owned and democratically controlled by its "worker-owners". In a pure worker cooperative, only the workers own shares of the business on a one person, one vote basis, though hybrid forms exist in which consumers, community members or investors also own some shares (though these shares may or may not have voting power). In practice, control by worker-owners may be exercised through individual, collective or majority ownership by
2262-730: The Missouri School of Journalism , University of Missouri in Columbia, Missouri, in 1969. In 1969 Harvey started work at The Topeka Capital-Journal in Kansas. He has worked for National Geographic magazine and was named Magazine Photographer of the Year by the National Press Photographers Association in 1978. He joined Magnum Photos as a nominee in 1993 and became a full member in 1997. Harvey's first book, Tell It Like It Is, self-published in 1967, documented
2340-561: The New Lanark mill from Owen's father-in-law, David Dale , and proceeded to introduce better labour standards, including discounted retail shops where profits were passed on to his employees. Owen left New Lanark to pursue other forms of cooperative organization and develop coop ideas through writing and lecture. Cooperative communities were set up in Glasgow , Indiana and Hampshire , although ultimately unsuccessful. In 1828, William King set up
2418-439: The 'Urgenossen'. A community cooperative is owned and governed by members of a local geographical community. It is established to meet the community's needs by providing goods or services that are not available or affordable through traditional market channels. This is distinct from meeting individuals' needs as individuals. The aim of a community cooperative is often to create a more equitable and sustainable economy that serves
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2496-565: The Anglosphere branch of the cooperative movement, however, was a rejection of the charity principles that underpinned welfare reforms when the British government radically revised its Poor Laws in 1834. As both state and church institutions began to routinely distinguish between the 'deserving' and 'undeserving' poor, a movement of friendly societies grew throughout the British Empire based on
2574-526: The Cooperative Marque, meaning ICA cooperatives and WOCCU credit unions can also be identified through a coop ethical consumerism label. Cooperation dates back as far as human beings have been organizing for mutual benefits. Tribes were organized as cooperative structures, allocating jobs and resources among each other, only trading with the external communities. In alpine environments, trade could only be maintained in organized cooperatives to achieve
2652-573: The Fstoppers photography website, amplified on social media, which accused Magnum of promoting sexually explicit images of children, featuring nudity, and encounters with clients that the website suggested constituted a record of acts of child sexual abuse. [. . .] Much of the criticism [. . .] focused on a series of photographs by [. . .] Harvey from his time documenting sex workers in Bangkok in 1989." The accusations were made "on
2730-613: The International Raiffeisen Union. In the United States, the National Cooperative Business Association (NCBA CLUSA; the abbreviation of the organization retains the initials of its former name, Cooperative League of the USA) serves as the sector 's oldest national membership association. It is dedicated to ensuring that cooperative businesses have the same opportunities as other businesses operating in
2808-499: The John Lewis Partnership, where profits are distributed to the workers, but at the discretion of a senior elected board. Business and employment cooperatives (BECs) are a subset of worker cooperatives that represent a new approach to providing support to the creation of new businesses. Like other business creation support schemes, BEC's enable budding entrepreneurs to experiment with their business idea while benefiting from
2886-536: The Middle East; Cartier-Bresson to cover south and east Asia; Seymour and William Vandivert to cover Europe and the United States, respectively; and Capa to be free to follow his curiosity and events. Magnum is one of the first photographic cooperatives , owned and administered entirely by members. The staff serve a support role for the photographers, who retain all copyrights to the photographs they take. The Magnum cooperative has included photojournalists from across
2964-629: The Netherlands, Rabobank holds 34% of deposits, and in France cooperative banks (Crédit Agricole, Crédit Mutuel and BPCE Group) possess more than 59% of domestic credit and 61% of domestic deposits. In Finland, OP financial group holds 35% and 38% of domestic credit and deposits, respectively, and in Canada, Desjardins holds around 42% of domestic deposits and 22% of domestic credit. There are many types of cooperative financial institutions with different names across
3042-527: The SKOK ( Spółdzielcze Kasy Oszczędnościowo-Kredytowe ) network grew to serve over 1 million members via 13,000 branches, and was larger than the country's largest conventional bank. In the Scandinavia , there is a clear distinction between mutual savings banks (Sparbank) and true credit unions (Andelsbank). The oldest cooperative banks in Europe, based on the ideas of Friedrich Raiffeisen, are joined in
3120-457: The UK, common ownership (indivisible collective ownership) was popular in the 1970s. Cooperative Societies only became legal in Britain after the passing of Slaney's Act in 1852. In 1865 there were 651 registered societies with a total membership of well over 200,000. There are now more than 400 worker cooperatives in the UK, Suma Wholefoods being the largest example with a turnover of £24 million. There also exist some pseudo-cooperatives, such as
3198-621: The United States, Italy, or France. A consumers' cooperative is a business owned by its customers. Members vote on major decisions and elect the board of directors from among their own number. The first of these was set up in 1844 in the North-West of England by 28 weavers who wanted to sell food at a lower price than the local shops. Retail cooperatives are retailers, such as grocery stores, owned by their customers. They should not be confused with retailers' cooperatives, whose members are retailers rather than consumers. In Singapore, Italy, and Finland
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3276-628: The banking sector. According to the European Association of Cooperative Banks, the market share of cooperative banks in the Small and Medium Enterprises (SMEs) credit market by the end of 2016 was 37% in Finland, 45% in France, 33% in Germany, 43% in the Netherlands, and 22% in Canada. In Germany, Volksbanken-Raiffeisen banks have a market share of approximately 21% of domestic credit and domestic deposits. In
3354-426: The basis of the tagging of some of the images." The photographic series, entitled Bangkok Prostitutes , was taken by Harvey in 1989 in Bangkok, tagged a photograph of a topless girl both "prostitution" and "teenage girl—13 to 18 years". Following a Twitter thread by a photojournalist alleging that Harvey's sexual misconduct was an open secret, Magnum carried out a formal investigation to determine if there had been
3432-525: The bottom-up, rather than the top-down. Cooperatives may include: The Research published by the Worldwatch Institute found that in 2012 approximately one billion people in 96 countries had become members of at least one cooperative. The turnover of the largest three hundred cooperatives in the world reached $ 2.2 trillion . Worker cooperatives are typically more productive and economically resilient than many other forms of enterprise, with twice
3510-433: The company with the largest market share in the grocery store sector is a consumer owned cooperative. In Switzerland both the largest and the second largest retailer are consumer owned cooperatives. A housing cooperative is a legal mechanism for ownership of housing where residents either own shares (share capital co-op) reflecting their equity in the cooperative's real estate or have membership and occupancy rights in
3588-433: The constraints of various systems of national law) is the principle that an enterprise or association should be owned and controlled by the people it serves, and share any surpluses on the basis of each member's cooperative contribution (as a producer, labourer or consumer) rather than their capacity to invest financial capital. The International Co-operative Alliance was the first international association formed (1895) by
3666-623: The cooperative movement. It includes the World Council of Credit Unions . The International Cooperative Alliance was founded in London, England on 19 August 1895 during the 1st Cooperative Congress. In attendance were delegates from cooperatives from Argentina, Australia, Belgium, England, Denmark, France, Germany, Holland, India, Italy, Switzerland, Serbia, and the US. A second organization formed later in Germany:
3744-681: The country and that consumers have access to cooperatives in the marketplace. In 1945 Artturi Ilmari Virtanen received the Nobel Prize in Chemistry for his invention of the AIV silage . This invention improved milk production and created a method of preserving butter, the AIV salt, which led to increased Finnish butter exports. He had started his career in chemistry in Valio , a cooperative of dairy farmers in which he headed
3822-840: The first in Europe. By 2004 a new association focused on worker co-ops was founded, the United States Federation of Worker Cooperatives . The cooperative movement has been fueled globally by ideas of economic democracy . Economic democracy is a socioeconomic philosophy that suggests an expansion of decision-making power from a small minority of corporate shareholders to a larger majority of public stakeholders. There are many different approaches to thinking about and building economic democracy. Anarchists are committed to libertarian socialism and have focused on local organization, including locally managed cooperatives, linked through confederations of unions, cooperatives and communities. Marxists, who as socialists have likewise held and worked for
3900-514: The form of the state . Though they regard the state as an unnecessarily oppressive institution, Marxists considered appropriating national and international-scale capitalist institutions and resources (such as the state) to be an important first pillar in creating conditions favorable to solidaristic economies. With the declining influence of the USSR after the 1960s, socialist strategies pluralized, though economic democratizers have not as yet established
3978-466: The founding of a friendly society by the Tolpuddle Martyrs in 1832 were key occasions in the creation of organized labor and consumer movements. Friendly Societies established forums through which one member, one vote was practiced in organisation decision-making. The principles challenged the idea that a person should be an owner of property before being granted a political voice. Throughout
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#17328581582864056-444: The goal of democratizing productive and reproductive relationships, often placed a greater strategic emphasis on confronting the larger scales of human organization. As they viewed the capitalist class to be politically, militarily and culturally mobilized for the purpose of maintaining an exploitable working class, they fought in the early 20th century to appropriate from the capitalist class the society's collective political capacity in
4134-508: The interests of the community. There are specific forms of incorporation for cooperatives in some countries, e.g. Finland and Australia. Cooperatives may take the form of companies limited by shares or by guarantee, partnerships or unincorporated associations. In the UK they may also use the industrial and provident society structure. In the US, cooperatives are often organized as non-capital stock corporations under state-specific cooperative laws. Cooperatives often share their earnings with
4212-618: The lives of a black family living in Norfolk, Virginia. His two major books, Cuba and Divided Soul, are based on the Spanish cultural migration into the Americas, and Living Proof deals with hip-hop culture. Martin Parr and Gerry Badger say of Harvey's book (Based on a True Story) that it "takes its place as one of the best of the more extravagantly designed photobooks at a time when extravagant design
4290-640: The matter. Harvey was born in San Francisco , California and raised in Virginia. He began photographing at age 11, inspired by months of isolated convalescence as a child after contracting polio , looking out of a window on a ward as though through a viewfinder . He completed his undergraduate degree at the Richmond branch of the College of William & Mary . He moved to Missouri, receiving his graduate degree from
4368-483: The meeting at which it was founded. In response to a letter telling him that he was a member, Rodger wrote that Magnum seemed a good idea but, "It all sounded too halcyon to be true," when Capa had told him of it and, "I rather dismissed the whole thing from my mind".) Rita Vandivert was the first President, and head of the New York office; Maria Eisner the head of the Paris office. The plan was for Rodger to cover Africa and
4446-487: The meeting is reserved to review potential new members' portfolios and vote on admitting individuals. An approved applicant is invited to become a 'Nominee Member' of Magnum, a category of membership that provides a chance for members and the individual to get to know each other, but that includes no binding commitments on either side. After two years of Nominee membership, a photographer may present another portfolio if wanting to apply for 'Associate Membership'. If successful,
4524-538: The members. Once elected as a full member, the individual is a member of Magnum for life or for as long as the photographer chooses. Magnum Photos' digital archive constitutes more than 1 million images, that Magnum licenses through its website. In August 2020, the Magnum website was taken offline after issues were raised by the Fstoppers photography website and amplified on social media by others including Jörg Colberg . Given
4602-427: The membership as dividends , which are divided among the members according to their participation in the enterprise, such as patronage, instead of according to the value of their capital shareholdings (as is done by a joint stock company ). The cooperative share capital or co-operative share capital (in short cooperative capital or co-operative capital ) is the form of capital that the cooperative accumulates from
4680-443: The needs of local residents, rather than generating profits for external shareholders. By working together and pooling resources, members can often achieve economies of scale, negotiate better prices, and develop services that better meet the needs of their community. Community cooperatives can also help to build social capital and foster a sense of community ownership and pride. They have been successful vehicles for rural development in
4758-495: The number of co-operatives (80%) surviving their first five years compared with other business ownership models (44%) according to data from United Kingdom. The largest worker owned cooperative in the world, the Mondragon Corporation (founded by Catholic priest José María Arizmendiarrieta ), has been in continuous operation since 1956. Cooperatives frequently have social goals, which they aim to accomplish by investing
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#17328581582864836-451: The paid participation shares of its members. The total amount of participation shares the paid to the cooperative constitutes the cooperative capital. The co-operative share capital is usually non-withdrawable and indivisible to the cooperative members. The top 300 largest cooperatives were listed in 2007 by the International Co-operative Alliance . 80% were involved in either agriculture , finance , or retail and more than half were in
4914-511: The personal invitation of Robert Capa . However, in 1955 a three-stage membership system was set up that continues to this day and is described below. Until 1953 there were also a large number of stringers who used Magnum but were not members. Magnum's photographers meet once a year, during the last weekend in June, in New York City, Paris or London, to discuss the cooperative's business. One day of
4992-476: The photographer is bound by the rules of the agency, and enjoys its facilities and worldwide representation. The difference between an Associate Member and a full Member is that an Associate is not a Director of the Company and does not have voting rights in the corporate decision-making. After two more years, an Associate wanting to be considered for full membership presents another portfolio of work for consideration by
5070-534: The principle of mutuality, committed to self-help in the welfare of working people. In 1761, the Fenwick Weavers' Society was formed in Fenwick, East Ayrshire , Scotland to sell discounted oatmeal to local workers. Its services expanded to include assistance with savings and loans, emigration and education. In 1810, Welsh social reformer Robert Owen , from Newtown in mid- Wales , and his partners purchased
5148-411: The research department for 50 years and where all his major inventions were first put to practice. Cooperative banks were first to adopt online banking. Stanford Federal Credit Union was the first financial institution to offer online internet banking services to all of its members in October 1994. In 1996 OP Financial Group , also a cooperative bank , became the second online bank in the world and
5226-526: The rise of trade unions and industrial factories. Weinbren reports that by the end of the 19th century, over 80% of British working age men and 90% of Australian working age men were members of one or more Friendly Society. From the mid-nineteenth century, mutual organisations embraced these ideas in economic enterprises, firstly among tradespeople, and later in cooperative stores, educational institutes, financial institutions and industrial enterprises. The common thread (enacted in different ways, and subject to
5304-452: The same services as banks but are considered not-for-profit organizations and adhere to cooperative principles . Credit unions originated in mid-19th-century Germany through the efforts of pioneers Franz Herman Schulze'Delitzsch and Friedrich Wilhelm Raiffeisen . The concept of financial cooperatives crossed the Atlantic at the turn of the 20th century, when the caisse populaire movement
5382-434: The second half of the nineteenth century (and then repeatedly every twenty years or so) there was a surge in the number of cooperative organisations, both in commercial practice and civil society, operating to advance democracy and universal suffrage as a political principle. Friendly Societies and consumer cooperatives became the dominant form of organization among working people in Anglosphere industrial societies prior to
5460-482: The seven ICA Cooperative Principles and Co-op Values. Co-ops can be identified on the Internet through the use of the .coop suffix of internet addresses . Organizations using .coop domain names must adhere to the basic co-op values. A cooperative is a legal entity owned and democratically controlled by its members. Members often have a close association with the enterprise as producers or consumers of its products or services, or as its employees. The legal entities have
5538-469: The tags on the photos, there was concern that Magnum was making available photographs of children featuring nudity; that documented encounters that constituted a record of acts of child sexual abuse; and that were problematic in terms of the way they had been labelled for searching. "Much of the criticism [. . .] has focused on a series of photographs by the US photographer David Alan Harvey from his time documenting sex workers in Bangkok in 1989." In
5616-429: The work of emerging photographers. In October 2020, Harvey's membership in Magnum was suspended for one year following an investigation into allegations that he had sexually harassed several of his female colleagues. After a second private investigation into sexual misconduct claims against Harvey, the board of Magnum voted to remove him as a member. He resigned before the meeting of the entire Magnum membership regarding
5694-413: The workforce, or the retention of individual, collective or majority voting rights. A worker cooperative, therefore, has the characteristic that the majority of its workforce owns shares, and the majority of shares are owned by the workforce. Membership is not always compulsory for employees, but generally, only employees can become members either directly (as shareholders) or indirectly through membership of
5772-602: The world, including financial cooperatives ('cooperativa financiera' is the Spanish term used in Latin America), cooperative banks, credit unions, and savings and credit cooperatives ('cooperativa de ahorro y crédito' in Spanish or ' coopérative d'épargne et de credit ' in French-speaking countries). Cooperative banking networks, which were nationalized in Eastern Europe, continued as cooperative institutions. In Poland,
5850-408: The world, who have covered many historical events of the 20th century. The cooperative's archive includes photographs depicting family life, drugs , religion, war, poverty, famine , crime, government and celebrities . Although it has been asserted that the name "Magnum" was chosen because the founding members always drank a bottle of champagne during the first meetings, Russell Miller writes: It
5928-411: Was . . . presumably agreed by those present [at the first meeting] that Magnum was a fine new name for such a bold new venture, indicative as it was of greatness in its literal Latin translation, toughness in its gun connotation and celebration in its champagne mode. Magnum is owned by its photographers, who act as shareholders. Each full member of Magnum has a vote in proposals made at a meeting held once
6006-690: Was started by Alphonse Desjardins in Quebec, Canada. In 1900, from his home in Lévis , he opened North America's first credit union, marking the beginning of the Mouvement Desjardins . Eight years later, Desjardins provided guidance for the first credit union in the United States , where there are now about 7,950 active status federally insured credit unions, with almost 90 million members and more than $ 679 billion on deposit. Financial cooperatives hold
6084-625: Was the first established savings bank that would be merged into the Trustee Savings Bank between 1970 and 1985. The Rochdale Society of Equitable Pioneers , founded in 1844, is usually considered the first successful cooperative enterprise, used as a model for modern coops, following the ' Rochdale Principles '. A group of 28 weavers and other artisans in Rochdale , England set up the society to open their own store selling food items they could not otherwise afford. Within ten years there were over
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