CLOSURESThey say they are losing money and have to close mills and layoff workers.... Hey..these closures do not come free! They do come at a cost. There are millions and millions spent on severance pay and retirement packages for displaced union workers and millions more for "OH SO MORE" lucrative packages offered to those management teams..
Then there is the pension plan. Quite the strain must be coming on the "Old Pension Fund" wouldn't ya think? Must be kinda scary for those workers who are looking forward to retirement, when they see the number of employee's withdrawing from the plan now far out way the number of employed contributors. How do they plan to keep it funded? Weaver says Company is not making any money! Wonder Why? IMHO It lies with the management... Management’s inability of making sound decisions. Decisions like the one Old Weaver made in Newfoundland where Abitibi has 2 mills, one a 100 year old 2 machine facility in grand falls that possibly needs a 60 or 80 million dollar upgrade, the other a new modern larger 1 machine facility at Stephenville which produced more tons per day on their one machine, but was desperately in need of a better hydro rate to survive. Abitibi apparently owns the hydro that is being generated on the Exploits River but rather than transfer power to that modern facility in Stephenville and shut down the garbage that they have to spend millions to upgrade, they shut the modern facility and now even though they say we are losing money they refuse to offer it for sale saying quote “ We plan to return the site to a GRASSY KNOLL. …..SO NOW ALL THEY
NEED IS MILLIONS MORE FOR DEMOLITION AND AN ENVIROMENTAL CLEANUP UNLESS OF COURSE THEY CAN SWAY THE GOVERNMENT TO GIVE THEM A CLEAN BILL OF HEALTH……….WONDER WHY THEY EVER NEED TO MERGE? THEY APPARENTLY DON’T NEED THE MONEY..ITS GOT TO BE THE NEED OF THE NEW MANAGEMENT