Sunday, April 12, 2009

Lee and Man could have made workers a bundle.

Assuming workers were allowed to take their now frozen 401k savings and invested $50,000 on Lee and Man stock at the Hong Kong Stock exchange when the mill closed in October 2008, the 31,840 shares you would own would have net worth of $170,981. Anyone out there know the Hong Kong Stock exchange difference in American dollars?

So that is where all the money went? To inflate the worth of parent company Lee and Man? And they leave workers with nearly $500,000 in medical bills they were in agreement of paying? Criminal. We need rules that protect worker rights!

12 comments:

Anonymous said...

Richard, last time I looked the HK $ was worth 12.350 cents US.

Anonymous said...

Wahhhhhh! It's over. Move on.

Anonymous said...

Maybe you guys should figure out how to export what you have the most of. Sand.

You could make sand cat houses or litter boxes. Sand for hourglasses. Sand has all kinds of uses. Why don't you get off your ass and make something of it?

lodgepole said...

Those commies are damn good capitalists.

Anonymous said...

Trolls rejoice when nieghbors
lose job. Is that what Rush would do?

Anonymous said...

Richard just can't do math, scary.

jmc said...

I see that most of the comments on this blog are from uncaring people that just don’t seem to care about their fellow man.

I would suggest that you ask yourselves what is best for the county, the state, the country,
Not what is best for ME.

We are in a depression and it is all because people don’t care about their fellow man.

Why don’t you all stop and think about what you could do to make this world a better place?

Anonymous said...

I do care, but complaining about it isn't going to make it any better. Time to suck it up and get on with life.

Anonymous said...

Does anyone have any reason to believe that the mill will reopen in any form-- or is it really done??

samoasoftball said...

Will the pulp mill re-open? That is the million dollar question. Bob Simpson has been in contact with all local government offices looking for funding. If all goes as new owners plan, the pulp mill will restart in some form. It will have a completely different workforce I would imagine. The former workers have been left out of the loop as far as the new owners intentions.

Anonymous said...

Positive I read here before that only the existing workers have the skills and knowledge to run the mill. So, what has changed?

Is the certainty of a new crew the reason Richard changed his personal description from "unemployed" to "small business owner"?

So Richard, what's the "small business"?

samoasoftball said...

Samoa Athletics: Sporting events organizing. I have been doing that for years. Didn't know that It might be my main income. Looks like that may be the case. I may be working/retired as of now.

I would love to work in the Pulp Mill in the future. It is what I know.

People who know me close are aware of my other small business plans. It is just a timing issue now.