Quote:
Originally Posted by ILG
I would be interested to know more about this part. My understanding is that the difference is that they are a family owned company and not a huge corporation. (Don't know if they sell stocks??) As a family owned company, which is relatively a small business, they make decisions on what they will and will not provide for employees rather than a board of people working for stockholders?? I am not sure if this is how it works or not.
Also, I saw on a video that the insurance will cover all contraception but Hobby Lobby will not have to pay for it. Not sure how that works. I wonder if an employee were able to purchase the coverage out of their own pocket as an additional coverage not covered by Hobby Lobby??
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HL is a "Closely Held Corporation" and that designation is vital to the decision.
They are not a "publicly held" corporation, meaning they do not have stocks that trade on the open market with ownership of hte company in the hands of any member of the public who decides to purchase stock.
"Closely held" is far more important than size in this case. HL is a 2.6Billion dollar company with 20k+ employees.
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