Sue's Blog

Monday, September 25, 2006

Barry - Rideout - Stewart & Harbour Breton

Larry, Curly and Moe
could not have improvised any better than in our own version of the Three Stooges in Harbour Breton.
Barry set out today hammer in tow to fix up a plant he bought but according to Rideout does not own while Stewart sat back and did not know what to do other than suck his thumb - which has to be waterlogged by now - as he follows whatever coat he finds trailing the closest to him at any given time.
What a mess!
Barry says it might be wrong but that's okay he's doing it anyway. Rideout says I don't blame him so much as I'm blaming FPI - but both of them know they can't do it - and we are going to put a stop to it. Stewart says the government says it's wrong but we can't stop FPI from going into a place they own.
Yes ladies and gentlemen this is Newfoundland and Labrador.
Okay let's see if we can sort this out ourselves!

This is - in part the amended Act - I will highlight the relevant sections...

AN ACT TO AMEND THE FISHERY PRODUCTS INTERNATIONAL LIMITED ACT

(Assented to May 26, 2006)


1. Section 7 of the Fishery Products International Limited Act is repealed and the following substituted:

Sale of business restricted

7. (1) Except with the prior approval of the Lieutenant-Governor in Council, neither FPI Limited nor Fishery Products International Limited shall sell, lease, exchange, mortgage, grant or assume a security interest on, or otherwise dispose of, or allow or direct a subsidiary of it to sell, lease, exchange, mortgage, grant or assume a security interest on, or otherwise dispose of, a substantial portion of an undertaking, property, assets or business operation which relates to or carries on, in whole or in part, the harvesting, processing or marketing of seafood.

(2) Notwithstanding subsection (1), except with the prior approval of the Lieutenant-Governor in Council, neither FPI Limited nor Fishery Products International Limited shall sell, lease, exchange, mortgage, grant or assume a security interest on, or otherwise dispose of, or allow or direct a subsidiary of it to sell, lease, exchange, mortgage, grant or assume a security interest on, or otherwise dispose of, a plant or other processing facility, wherever located, and machinery and equipment located in the plant or processing facility.

Now the law seems pretty clear right?

Well it seems that FPI either does not give a damn about the laws of the province (which is possible) or they see things differently with respect to the Harbour Breton Plant and that may go back to the first amendment which allowed the FPI marketing assets to be turned over (sold) to an income trust.
Now we know that didn't completely work itself out but did FPI live up to any commitments? There was a larger agreement some of which did not rely on the establishment of an income trust. What about the payment to FPI workers that were displaced. Is FPI going to argue that the laws in place at the time are the laws they are following now as they relate to Harbour Breton only? In that case they would be allowed to sell the plant because it did not represent all or substantially all of the company's assets. (That used to be what the law said)

Then of course all the negotiations with the Town of Harbour Breton would have been a ruse. That's possible too.

Now the Minister is off to get a stop work order while Barry is removing the FPI sign and hiring people.

Do you get how ridiculous all of this is - and we are ready to do a lower churchill deal? I don't think so. Now if anybody is with me let's go buy some FPI plants - real cheap - real fast. For that matter let's grab a river and put up a dam - just don't pick berries in the park.

Where's the Premier?



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