My car does not become company property if I park it in the company parking lot.
Does the company assume all liability for any damages to my car in the lot?
My body does not become company property when I sit at my desk.
Can the company do with my body what they will, regardless of law, while I am at work?
Well to answer that question, yes but...the only employer with the legal right to suspend any and all constitutional protections to employees is the Federal government of the USA.
Is Maytag a branch of the Federal government?
I don't think so.
Your company can not do whatever they want with you. But they can set conditions you must meet in order to use their property or accept their salary.
For example, they can tell you what clothes you can wear (dress codes), what actions you must take (crunching numbers, making sales, etc), even what you can say and who you can associate with (sexual harassment policies).
If employers were trying to throw people in jail for keeping a weapon in their car, I would oppose them. If they want to set conditions for using their property or taking their money, I will support their right to do so, even if their conditions are stupid.