Beverly Evans - Chief Financial Officer - of FPI said this of the company's over 6 MILLION DOLLAR QUARTERLY PROFIT:
"Profitability has improved through the execution of our strategy to eliminate low-margin products from our portfolio"
FPI's profits are up 3 1/2 MILLION DOLLARS from the same quarter last year.
Understand - that this news - while great for shareholders - is a reflection of human suffering in Newfoundland and Labrador. Communities in peril - fighting for their existence - people packing up and moving away before they lose everything.
When Beverly talks about eliminating low margin products - to you and me those products - in reality are people and communities. And all that to ensure that when Ches Penney - Nova Scotia and Iceland Corporates take over the company - they will not be the villains.
How do they all sleep at night? It's takes a special breed to fill your own arse pockets while you watch families and communities suffer. That is the mark of a "successful" business person - not necessarily a "good" one.
This is where the government of Newfoundland and Labrador had some control - had the ability to operate with a 2 million dollar profit instead of a 6 million dollar one. The shareholders should have been and should be the people of the Province - until some corporate entity would have accepted a couple of million a quarter - and communities and people (society) could have carried on.
You see this is not a swipe at the corporate elite - it is their swipe at us. The government neither has the vision nor the guts to do what's right. This will be another Williams' legacy.
2 comments:
In my opinion, it is not John Risley but John Crosbie who is the epitome of those most happily engaged in the screwing of Newfoundland. His role in the infamous dismantling of our Railway , the final collapse of the fisheries and in the vicious attack upon and take over of FPI, is unforgivable. Renowned, especially in the media, as a revered senior statesman and friend of Newfoundland. If that be so, may God protect us from our enemies. He may not have taken the "god-damned" fish out of the water, but he conveniently kept his mouth shut while Mulroney and his band of opportunists drove the last nail in the coffin. Is that a voice to be taken seriously in the debate over the development, management and future course of our higher institutions of learning!!
Forget the feds. If we are going to create a situation where our own scattered people are given the choice to return home , we have to start taking better management of our affairs, even if that means taking Danny by the scruff of the neck and giving him a good shake before he does something so foolish as to give away the "Lower Churchill" : our last remaining kick at the can in terms of future economic autonomy.
A recent article in the Telegram should be required reading. http://www.thetelegram.com/index.cfm?sid=52721&sc=79
Lloyd C. Rees
If a Newfoundland Republican Army,or a NRA ever came to be ,I'm sure Mr Crosbie would be a very nervous person lloyd.Thats for sure.
Mr Crosbie has made his mark in our history book.And,they are not very bright pages are they .
Post a Comment