The Humboldt Bay Municipal Water District board had their backs to the wall today at a special water board meeting concerning Evergreen Pulps past due water bill. Evergreen CEO David Tsang was expected to be present and give Evergreen's position. Once again, he did not show up.
Prospective plant purchaser Bob Simpson relayed a message from Tsang that Evergreen was willing to make a partial payment through the prospective buyer of $230,000 for the past due water bill. Mr. Simpson made it perfectly clear that he was not representing Evergreen and was only passing on information. He let all know publicly that Evergreen/David Tsang was making deals with all of their lien holder/creditors for a portion of their debts. Mr. Simpson compared this type of sale as the transaction between Stockton Pacific and Evergreen, when the purchase price was 2 million dollars.
Unfortunately, the public entity of the HBMWD was asked to publicly make a commitment to lower the obligation of the pulp mill. Our local union was scheduled to have a meeting with Tsang and Simpson later the same day to come to a resolution to our financials issues.
(Hey, you naysayers on the ESOP buyout. The board voted to accept partial payment. Evergreen grossed over $500,000,000 in 3 years and paid 40 million in upgrades? Nearly 1/2 Billion dollars of raw resources leaving the US and going to Asia? And we could have bought the mill for 2 million? Shame on you!) This, of course, is my personal, on going reminder this could have been the workers mill.
There are obviously many hoops for the Samoa Acquisition Group to jump through. I am sure I speak for most of the workers hoping for the best for a smooth transition. I see many obstacles in the near future and hope all prospective workers keep involved.
First Annual Ribbons of Hope Ball held at the Elks Lodge to benefit American Cancer Society - "The Cure Is Just A Step Away" Join us at the "The Lodge" for a wonderful evening of dinner, dancing, silent auctions, and a live auction with Rex Bohn. ...
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