BEST USE OF FPI DOLLARS?
...the question is why?
While it is a normal practise that a company gobble some of its own shares - nothing FPI does is normal - when relative to our people - our fishers - and plantworkers.
FPI plans to use up to 4 million of their corporate funds over the next year to repurchase and then cancel 5% of it's common shares. This will certainly increase the Boards power and will also remove from the pot much needed money for negotiations with plantworkers. What is up now in the mind of John Risley?
The following statement from a Company News Release:
"The Board of Directors of FPI believes that the proposed purchases are in
the best interests of FPI and are a desirable use of corporate funds. All
common shares purchased by FPI pursuant to the notice will be cancelled."
The question is - is it in the best interest of this province and our fishing
communities? Is it equally as desireable to reach and agreement with it's workers?
No comments:
Post a Comment