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- Grave Employment
- Blacks living in the past
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18 comments:
This is clearly another MAJOR SIGN that foreign corporations as well as local businesses HAVE NO CONFIDENCE in the GOVERNMENT.
It is certainly bad for our country.
I have little confidence in this troupe of basically idle cabinet ministers --- save a few. That said, the action taken by this acquiring company has very little to do with the ethnicity of the owners of the business, and have perhaps even less to do with the confidence level in current government. Why?
In M&A (merger and acquisition) business activity, the acquisition may have been undertaken to gain access to a market, or acquire particular assets -- and not all. Although sold as a bundle or package of goods, not all of the components of the acquired business may have been valued equally.
In this case too, the assets might just be the location, and the physical plant, but not the human resources or personnel. One may recall the asset-striping M&A in Britain just before the world economic downturn (recession) of 2008.
Depending too on the purchasing deal entered into in the exchange, there may be a need to show rapid positive bottom-line results.
In businesses today, to please some stakeholders or shareholders, the quickest way to do this is to cut cost. With such an objective, the shedding of workers (workforce reduction) is the premier target for this.
Therefore, management decisions may be a direct function of existing or predicted market conditions, and the configuration of the purchase instruments (bonds, cash, shares of stock, etc.) that were exchanged.
Job security, in the final analysis is most definitely a thing of the past -- except perhaps, for those working in the bloated and top-heavy public/government sector. Even the heavily touted S.T.E.P. by definition is supposed to be short-term and therefore ephemeral.
Anonymous said...
This is clearly another MAJOR SIGN that foreign corporations as well as local businesses HAVE NO CONFIDENCE in the GOVERNMENT.
It is certainly bad for our country.
July 26, 2014 at 4:50 PM
You just showed your lack of understanding of how these shareholder companies operate. They do not care about employees, just making money for shareholders. Buckeye bought a company that had lost over $3.5B in the last 3 years it was only a matter of time before they started laying off.
It is not a lack of understanding by ignorance without understanding. Anytime a company buy over or merges with another there will be always restructuring
No Govt. UWP/SLP has control over the laying off of workers by companies.
Dear Administrator:
I am at a loss as to why you decided to remove my comment. I certainly did not run afowl of any of the blog's guidelines. I did not malign anyone or said something libelous. Please explain.
You can use all kinds of academic explanation for the sacking of employees by this corporation; but REMEMBER CONFIDENCE IN GOVERNMENT POLICY dictates what corporations do; if there is CONFIDENCE they employ.
And, if there is a LACK of CONFIDENCE. They pull-back on EMPLOYMENT. I am about practical economics. The financial and business markets THRIVE ON THREE THINGS.These are; CONFIDENCE, CONFIDENCE, CONFIDENCE.
And CONFIDENCE is derived from TRUST.
And TRUST comes about when one does not see another as bloody-well DISHONEST, DECEPTIVE and CORRUPT.
Can you please indicate the NUMBER OF NEW BUSINESS VENTURES ESTABLISHED IN the country at least over the past THREE YEARS? And the number of persons employed.
The academic theory is for the FILING CABINETS in these offices in Government. Not for the PRACTICAL APPLICATION of principles and strategies that can redound to the BENEFIT of the people of the country. Not for a few political eels.
The OBJECTIVE in Government is to increase in the positive form, the standard of living of the people of the country.
I hope you above there get that.
Just remaining on the outside looking in, does not provide a convincing argument that such provides inside knowledge of the strategic direction or intent of any company.
All press releases and public statements from company executives are for public consumption. Sometimes, these are issued for little else. What validates conclusions are the short- to medium-term behaviours of the business units.
It is noteworthy that no analysis was made of the markets or the market conditions in which company operates.
In Saint Lucia, the company operates essentially as a storage facility, and not as a manufacturing facility per se. Therefore, any decline in the need for storage in the supply and value chain that this company is part of, as prompted by (say) the increasing use of natural gas in the US, would suggest a reduction in the need for far-flung storage facilities. More: There is transportation costs to factor into business decisions.
Indeed, it may be a matter of confidence. However, as an investor, doing your due diligence, the search would be to look at, among other things, the future prospects of the firm in terms of the demand for its products and services going into the future.
I would grant you this much. Kenny's closeness to Castro's Cuba and to Venezuela does not auger well regarding those looking for safe havens to invest money today.
This is an energy-related company first and foremost. Now look at the massive losses incurred by US energy-related companies in Venezuela in very recent times. Surely energy industry experts and publications are surely expressing at least notes of caution with respect to socialist-leaning countries. For us, we should be aware of the dictum: "Show me your friends are, and I will show you who you are".
Blogger right above mine here; YOU ARE DEAD RIGHT on the LAST TWO PARAGRAPHS of your comment.
Kenny Anthony fools himself by believing that he can fool everyone else; and that for some strange reason; he believes that he is smarter than anyone else.
I say this because I made a number of observations which time will only allow me to articulate one or two examples.
1. He DID NOT ATTEND THE MEETING SCHEDULED WITH THE VICE=PRESIDENT OF THE UNITED STATES OF AMERICA.
Remember, we here in St. Lucia have DEPENDED ON AMERICA for the survival of our families. Both in terms of those who live there permanently and those who import goods to sell for a profit to make a living 9trade).
Then it is also more affordable for more of our children to attend colleges/universities in the USA than Britain.
Now note the four major countries that we have been doing business with and refer to St. Lucia as their friends in all respects are:
The USA
Great Britain,
France and
Canada.
Also note than you antagonize and scorn ONE of them; YOU SCORN ALL.
All FOUR of these countries strongly support each other.
So there you have Kenny snobbing the USA's Vice-President and indeed its Government; and shortly thereafter; the rascal/dumb-head Kenny Anthony goes to MIAMI and LONDON; BEGGING FOR INVESTMENTS.
Just where on GOD's green earth is this fellar from. The jackass, in his attempt to be vindictive and ugly to America; does not care one damn about putting both our country and its people in PERIL. That is to say; no jobs; a pull-out of training and other resources to the Police Force here, a pull-out of business and direct foreign investment/capital; less US Visas being issued for travel to purchase goods for sale to make a living by our speculators with their side-walk wares and small shops; less support of our country by encouraging businesses in the USA, Canada, France and Britain to invest here; etc. etc. etc.
If you are nasty to my good friend. Hell no, you cannot be nice to me. You are just as nasty to me; in my eyes. Get it/
THIS KENNY ANTHONY FELLAR AND HIS 'POLITICAL WASP' Phillip Pierre are in great part responsible for St. Lucia's STRANGULATION by the business sector both within and without. Get it?
Your comment was removed because of the language you chose to use LuciaBoy.
Kenny is trying too hard to have his cake and eat it too. I feel that he has Saint Lucia drifting in the same socialist direction as Jamaica's Manley, and grey-haired Fox Burnham's Guyana.
Get the picture, See where Jamaica and Guyana were before those two misguided characters rose to power. Both economies tanked!
Now, had it not been for the ECCB, the IMF which is funded in large part by the USA, and if we had our own currency, the USA would pay him back for the slight, by influencing the IMF to impose the devaluation conditionality for any future loan assistance.
Note well. If the IMF does not come to your rescue as banker of last resort, you may find your country being ignored by all international lending organizations.
The prime minister is playing very fast and loose with the future of this country. He is courting disaster!
He should NEVER EVER AGAIN be allowed into power, far less as head of the SLP.
Even right now, he remains in his position of power, at the peril of the entire country. The future of this country under him is not bright, in any way, even for his die-hard low information processing En Rouge-nistas.
Above: this is exactly what Henry Kissinger did to Michael Manley in the 1980s. You should be writing against the EVILS of such foreign coercion.And tell me; how did all those God fearing countries elevated the communist dragon to such an ecomomic menace?.....poor Cuba!....they probably have' weapons of mass economic destruction'!!
Kenny does not even send Pip to represent him at Heads of Government gatherings of CARICOM or of the OECS? Do you see how big the slight was?
The Peter Principle was in operation from the time the bat-sighted and short-sighted George Odlum moved to change the constitution for the benefit of a single greenhorn to become education minister. Every time this greenhorn is in office, Saint Lucians have to pay a sort of economic rent for its retention, by pouring money down a financial black-hole.
This greenhorn is so error-prone that we have lost millions upon millions of dollars. This is not an exhaustive picture but we have because of Frenwell some $45 million, Black Bay for idiotic non-investment $85 million just to buy back the lands that were given, hands over fist to the shysters, and then Grynberg $168 million with some estimates putting this at $500 million plus legal fees not yet fully tallied.
Lately, our esteemed have been boasting of close ties with Communist Cuba and socialist Venezuela. Now you expect Western capital not to disinvest in such a locale?
One has to feel very sorry for the 60 employees who must have forfeited their more-than-above- average paying jobs to the self-aggrandizement of spewing empty socialist rhetoric. There is hope that they can use the severance to secure any mortgages they may have. Right now, if they do and cannot in the foreseeable future pay out the balance, these investments are in deep trouble. They will be crying not with ordinary tears, but with blood.
Buckeye gives Saint Lucians a black eye. Buckeye's black eye.
Jackass politicians give us jackass government.
JULY 29 at 6.23 above you are just dead right.
Buckeye's decision, like that of various other firms, was made as a result of overzealous belligerent unionizing tactics, not due to loss of confidence in Kenny. SL needs to get this under control quickly because she is quickly becoming known as having the most outrageous unions. This is killing the efforts of InvestSL.
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