(
April 22, 2009)
Greed you say!..If it wasn't for the greed of paper mill employees and the guys at the top, we would still have a mill. People in our fair town now feel the pinch because of both! |
Dave (
April 21, 2009)
It was like watching a ship sink! Only instead of the captain going down with the ship, he and his cronnies got tossed a financial life boat. Good riddance, after the way towns like Kenora and Mckenzie BC were treated by these unscrupulous b------- , it is good to see them gone. I just hope the pensions are as secure as they would have us believe and that some fool in government doesn't come forth with a bailout idea. Let 'em rot!! |
Hockey Dad. (
April 20, 2009)
They tried to corner the market and force the newspapers to have to pay the big dollars for their paper, not looking at the future. And emerging countries are making paper for half the price we could and they all had new mills with new technologies. Next with computers, many people are not even reading papers anymore...times are changing. Then the big bosses took too much money. So, bottom line, they got greedy and the greed caught up with them. Not only that, those greedy b******s tried to stick it to our town...I am glad to see they are getting it in the end! Gotta love Karma! |
Paula (
April 19, 2009)
This down turn in the economy is not like the others. This one makes countries, governments around the world shutter. Companies will go on the wayside. I hope much changes here to start new. So should isolated, subsidized communities that are artificially created and sustained by dwindling tax dollars. Canada has to make a change for the country. |
Bruce (
April 18, 2009)
It seems that all the mega corps going bankrupt have three things in common.
1.) Management was guilty of creating more supply than there was demand.
2.) Executives took excessive bonuses in spite of profits or lack of.
3.) Large unions and pay scales well above the norm were involved. |
former (
April 17, 2009)
The collapse of Abitibi is no surprise, paying millions of dollars for upper management executives, led by John Weaver who, in my opinion, is the most arrogant, pompous ass in the world. Now local people may pay the price on their pensions. Abitibi tried to get too big and paid the price. |
Joe (
April 17, 2009)
l am not surprised this has happened it reminds me of what happened in the USA with AIG the CEOs giving themselves millions of dollars in year end bonuses. Abitbi was no different the CEOs were also lining their pockets taking out and not putting back into the corporation leads to failure and if you thought aqiring Bowater was going to pull them out of their financial problem take a look at their past history. No this is no big surprise, you dug your hole now the dirt is starting to fall in on you. |
Richard (
April 16, 2009)
No. It was coming just the same as it did for all the others. It's not the end, but is a significant step closer to it. There's a new culture arising in North American governments that has less tolerance for companies carrying long term debt and thus companies like Abitibi-Bowater are finding that government is not there to help or even listen anymore. It's just a matter of time before their overwhelming debt forces them to close shop. |
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