Dr. Phil Earle responds to Randy Simms' comments on Sue's Blog
Randy writes in (1) "Overfishing is certainly one of the major causes but after 18 years [...] something else must be at work.”
There are other factors that are not permitting the return of the cod, e.g., predation by 10 million seal population, foreign freezer ships (6) under Canadian flags of convenience fishing inside our 200 mile limit, but the destruction of our migrating stocks on the N&T of the banks by NAFO has been out of controlled since the moratorium. The figures on their fishing are undocumented, or hidden by the fed gov , but when some knowledge of foreign fishing has been obtained stocks have been over fished by more then 100% - 200%.
Thousands of tons of fish taken illegally, yearly, by NAFO fleets (beyond the quota limits that scientists have recommended) is the dagger in the heart of our fisheries recovery. What kind of reasoning does Mr Simms have when in the same sentence he comments that ... ”Over fishing is certainly one of the major causes....”, only to follow this by , “something else must be at work”?
This reasoning is paced by a political-industry ego, one that sequesters, not admitting the fishery has failed to the public because it counters the wishes of the Industry.
In (4) Mr Simms verify’s this ..quote, “....in order for the industry to be successful it must match up with the resources available ....”. Industry (union /ASP), matching up to the resources available is a philosophy which means take what you can while it’s there before its all gone. But this is the very attitude which precludes the industry being successful, one that has helped it’s present state of affairs. For the Industry to be successful, the renewable resource must be healthy and sustainable, and the Industry must do all it can to protect and help restore the stocks and then process it with need, not greed.
Mr Simms does not recognize that our fishing heritage is being destroyed because people are not allowed to fish, and fish are not being restored by our leaders.
Every thing he says addresses events of the fisheries failure and not one insight on any of there causes! Foreigners, and seals, are destroying NL’s fishery, our Industry is allowing it to be run into oblivion and gov's have no will to make the necessary changes in policies that is needed to save it.
Mr Simms takes the same position of gov's & Industry have taken in the present MOU (Mummernundrum of Uncertainty), restructure and down size, shut down more jobs and communities. The MOU is about money for the well to do, and to hell with the resource itself and the helpless coastal people.
There’s nothing in the MOU to indicate that the authorities are backing us coastal people, they are instead riding our backs into the ground.
Mr Simms is not responsible for the fisheries, but his comments expressed here and on his talk show, are in line with those of the leaders of our fishery, that have allowed our fishery to be destroyed. Randy should not be the scape goat here for what has happen to our fishery. He openly expresses himself in a way, which many in NL painfully know is not what has happen to the fishery, what should be done to fix it, and what it really means to our coastal seafaring people.
I think it must be understood that people who’s lives are not directly involved in the fishery cannot understand it fully and we should not be surprised that they do not say the right thing. To this point it is the fishers and coastal people (and others in our province who understand the real situation and value of our heritage) who are trying to hang on to our culture and coastal way of life.
We in NL must persevere in this....we must lead the way for others, show them that our oceans bounty is a treasure that must be protected and returned to us.... because it is the source of the undaunted spirit and magnificent coastal way of life of our people of the sea.
Dr Phil Earle
Showing posts with label John Risley. Show all posts
Showing posts with label John Risley. Show all posts
Monday, January 24, 2011
Saturday, January 22, 2011
Dr. Earle responds to Sue's Blog (Essential Reading)
Please find below a comment that was left on Sue's Blog - Post Ask What we can do for our Fishery..
I hope we are on the cusp of fighting for our culture, heritage, economy, and future generations. The truth is we have no choice.
Comment from Dr. Earle
Randy's comment immediately after I hung up the phone was that 'it will be interesting to know what will be in the MOU when it's information is released.' Completely putting the issue back, for the listener, where it has been, on the wrong track.
This remark from him after I spent 5 minutes explaining that the MOU addresses the tip of the ice berg of our fisheries problems and its basic philosophy accepts all that has been , and is being done, wrong to the resource. (By Ottawa and the Industry).
We all know, because of this, that we have lost 100,000 of our coastal people and 30,000 fisheries jobs, gutting the beautiful unspoiled places where our spirit is rooted.
And how does Jackman respond to these facts? By saying the so called hard decisions that we will have to face with the downsizing of a successful MOU will be placed on the ordinary people of rural NL!
This from some one we elected to represent us in our government indicates he has no spine to stand against the Industry nor to be a leader of our sea people. (What ever hardships we may have to adjust to in future in our fishery should never be further on our fishers and coastal people...it has to be adsorbed by the Union and ASP.)
All this was expressed to Randy, but as soon as my air time ended he acted as if nothing I said meant anything, it didn't dent his authoritative mantra, because he thinks he knows more then anyone else and what got past that didn't pass his arrogant political ego.
Randy is not alone however in this omnipotency, it pervades nearly all our so called leaders and elected heads. Nearly all of them think power and voice emanate from themselves instead of the truth, that it comes from the people.
We have been bullied out of much of our resources since our federation in 49 in one way and another by 'outsiders', the worst of them being Ottawa.
No bullying however has been as devastating as the one in our fishery, because it has destroyed our culture, our homes and families...a tragedy.
The people who have allowed this to happen are as guilty and responsible as are the ones who have done it. They are barbarians.
But they will never dent the passion that is in my heart to do what is right for, and fight for, this marvelous, beautiful, sacred place and our people.
dr earle
I hope we are on the cusp of fighting for our culture, heritage, economy, and future generations. The truth is we have no choice.
Comment from Dr. Earle
Randy's comment immediately after I hung up the phone was that 'it will be interesting to know what will be in the MOU when it's information is released.' Completely putting the issue back, for the listener, where it has been, on the wrong track.
This remark from him after I spent 5 minutes explaining that the MOU addresses the tip of the ice berg of our fisheries problems and its basic philosophy accepts all that has been , and is being done, wrong to the resource. (By Ottawa and the Industry).
We all know, because of this, that we have lost 100,000 of our coastal people and 30,000 fisheries jobs, gutting the beautiful unspoiled places where our spirit is rooted.
And how does Jackman respond to these facts? By saying the so called hard decisions that we will have to face with the downsizing of a successful MOU will be placed on the ordinary people of rural NL!
This from some one we elected to represent us in our government indicates he has no spine to stand against the Industry nor to be a leader of our sea people. (What ever hardships we may have to adjust to in future in our fishery should never be further on our fishers and coastal people...it has to be adsorbed by the Union and ASP.)
All this was expressed to Randy, but as soon as my air time ended he acted as if nothing I said meant anything, it didn't dent his authoritative mantra, because he thinks he knows more then anyone else and what got past that didn't pass his arrogant political ego.
Randy is not alone however in this omnipotency, it pervades nearly all our so called leaders and elected heads. Nearly all of them think power and voice emanate from themselves instead of the truth, that it comes from the people.
We have been bullied out of much of our resources since our federation in 49 in one way and another by 'outsiders', the worst of them being Ottawa.
No bullying however has been as devastating as the one in our fishery, because it has destroyed our culture, our homes and families...a tragedy.
The people who have allowed this to happen are as guilty and responsible as are the ones who have done it. They are barbarians.
But they will never dent the passion that is in my heart to do what is right for, and fight for, this marvelous, beautiful, sacred place and our people.
dr earle
Friday, January 21, 2011
Ask what we can do for our fishery! Dr. Earle says...
Did you here Dr. Earle today on Open Line with Randy Simms? He said we need to ask "what we can do for our fishery".
He articulated the same message as Sue's Blog in Fish what Fish and Have you Found our Cod - Have we Found our Guts.
Randy Simms should listen and learn about the fishery. Yes he is willing to let people speak - but evidence is mounting that regarding the fishery - he is myopic on his view. No Randy - it is not acceptable to simply repeat
propaganda of inept politicians - or greedy multinationals.
Symptomatic words of one influenced by fishery propaganda:
1. rationalization
2. downsizing
3. restructuring
4. resettlement
5, regionalization
and phrases like " if there's no fish there's no fishery"or "there's no place for youth in the fishery anymore" or "you're just going to have to find a job somewhere else".
These are words and catch phrases that most if not all our federal and provincial politicians could not debate even at a primary level. We certainly do not need talk-show hosts simply repeating the false gospel out of the mouths of "special interest" prophets.
Once again people like Dr. Earle and Gus Etchegary are right. We continue to have our culture, history and economy plundered while incompetent or lazy elected representatives suck their thumbs.
In today's dollars Dr. Earle was probably right that we are losing close to a billion a year from Ottawa's mismanagement - and JohnCrosbie's "I did not take the god-damned fish out of the water" is nothing more than a cop out and trying to rid himself of the responsibility he holds for the mismanagement of this world class renewable stock. In fact maybe pouring John another Tequila - Gail Shea might be the answer.
We either want the money year over year or we want the fish. We are not willing to give up our short-medium-long term future because our politicos at all levels - refuse to act.
When that oil is gone - made worse by the equalization robbery - we will be pitiful unless we keep in place and working for our people and communities our natural renewable resources.
Ches Penney and John Risley's attachment to the fishery is a joke. They have an attachment to a commodity which is a common resource of our people and our communities. The nonsense sputtered and spewed by fisheries ministers, MHA's and/or MP'S is just that and it's time for rural Newfoundland and Labrador to give them a kick in the arse and send them on their way. They have failed.
To answer Dr. Earle's question of "what can we do for our fishery" - first we kick the political lot out - start to speak as a united people on what we want done - and demand it be done.
He articulated the same message as Sue's Blog in Fish what Fish and Have you Found our Cod - Have we Found our Guts.
Randy Simms should listen and learn about the fishery. Yes he is willing to let people speak - but evidence is mounting that regarding the fishery - he is myopic on his view. No Randy - it is not acceptable to simply repeat
propaganda of inept politicians - or greedy multinationals.
Symptomatic words of one influenced by fishery propaganda:
1. rationalization
2. downsizing
3. restructuring
4. resettlement
5, regionalization
and phrases like " if there's no fish there's no fishery"or "there's no place for youth in the fishery anymore" or "you're just going to have to find a job somewhere else".
These are words and catch phrases that most if not all our federal and provincial politicians could not debate even at a primary level. We certainly do not need talk-show hosts simply repeating the false gospel out of the mouths of "special interest" prophets.
Once again people like Dr. Earle and Gus Etchegary are right. We continue to have our culture, history and economy plundered while incompetent or lazy elected representatives suck their thumbs.
In today's dollars Dr. Earle was probably right that we are losing close to a billion a year from Ottawa's mismanagement - and JohnCrosbie's "I did not take the god-damned fish out of the water" is nothing more than a cop out and trying to rid himself of the responsibility he holds for the mismanagement of this world class renewable stock. In fact maybe pouring John another Tequila - Gail Shea might be the answer.
We either want the money year over year or we want the fish. We are not willing to give up our short-medium-long term future because our politicos at all levels - refuse to act.
When that oil is gone - made worse by the equalization robbery - we will be pitiful unless we keep in place and working for our people and communities our natural renewable resources.
Ches Penney and John Risley's attachment to the fishery is a joke. They have an attachment to a commodity which is a common resource of our people and our communities. The nonsense sputtered and spewed by fisheries ministers, MHA's and/or MP'S is just that and it's time for rural Newfoundland and Labrador to give them a kick in the arse and send them on their way. They have failed.
To answer Dr. Earle's question of "what can we do for our fishery" - first we kick the political lot out - start to speak as a united people on what we want done - and demand it be done.
Sunday, October 07, 2007
Does Risley want another piece of Newfoundland and Labrador?
Just two days away from the "vote" - and I am thinking about FPI. This once king of "seafoods" companies gone from our rural communities - gone from the memories of our politicians - as well.
John Risley - the "Danny" slayer has done what media and opposition could not. Risley has taken Danny on and won.
On Friday FPI issued a news release - advising of a special meeting of shareholders. On October 22nd - the shareholders will vote on the sale of FPI assets. The get-together will also be used to discuss the future of FPI. The release says in part:
So now that our politicians have allowed the company to moan and groan its way out of commitments to our communities - and at the same time making some millionaires of a select few - what are the boys going to do with the money? What exactly does the statement above mean? An investment and holding company?
Why not let John Risley answer that question. The Montreal Gazette attributes the following quote to Danny's conqueror:
Apparently the name of the new company will be FP Resources Ltd. What now - will they come after energy investments? Do they want a piece of the Lower Churchill? How about Labrador uranium? Or maybe gas projects? Will they suck the good out of other resources in Newfoundland and Labrador and then change-up again?
And in a twist of irony - FPI announced today the appointment of a new director - another "Newfoundlander and Labradorian" - Mr. Graham Roome - who started his career with the "Lake Group" - one of the fish companies that had to be rescued by the formation of FPI - when we the taxpayers became the owners. Talk about having sea-legs - apparently Mr. Roome who went from Lake to FPI in Bonavista - to Clearwater - and then back to FPI - is doing a hell of a lot better that our fishermen.
Danny - Tom - Gerry - Loyola - and Loyola - "hook line and sinker". Way to go Risley - no wonder you and Ches Penney have the personal wealth you have.
John Risley - the "Danny" slayer has done what media and opposition could not. Risley has taken Danny on and won.
On Friday FPI issued a news release - advising of a special meeting of shareholders. On October 22nd - the shareholders will vote on the sale of FPI assets. The get-together will also be used to discuss the future of FPI. The release says in part:
FPI intends to transition from an operating company engaged in the harvesting, processing, global sourcing and marketing of seafood products to an investment and holding company.
So now that our politicians have allowed the company to moan and groan its way out of commitments to our communities - and at the same time making some millionaires of a select few - what are the boys going to do with the money? What exactly does the statement above mean? An investment and holding company?
Why not let John Risley answer that question. The Montreal Gazette attributes the following quote to Danny's conqueror:
"our historical business has been the seafood business and our future business will be something other than the seafood business"
Apparently the name of the new company will be FP Resources Ltd. What now - will they come after energy investments? Do they want a piece of the Lower Churchill? How about Labrador uranium? Or maybe gas projects? Will they suck the good out of other resources in Newfoundland and Labrador and then change-up again?
And in a twist of irony - FPI announced today the appointment of a new director - another "Newfoundlander and Labradorian" - Mr. Graham Roome - who started his career with the "Lake Group" - one of the fish companies that had to be rescued by the formation of FPI - when we the taxpayers became the owners. Talk about having sea-legs - apparently Mr. Roome who went from Lake to FPI in Bonavista - to Clearwater - and then back to FPI - is doing a hell of a lot better that our fishermen.
Danny - Tom - Gerry - Loyola - and Loyola - "hook line and sinker". Way to go Risley - no wonder you and Ches Penney have the personal wealth you have.
Saturday, August 11, 2007
Eliminate Low-Margin Products
I'm left to wonder - how I should take a message from an FPI News Release this week. If I'm a shareholder - and I'm not - I would be delighted. But if I'm involved in the fishery - the words would spell gloom and doom. I would be angry.
Beverly Evans - Chief Financial Officer - of FPI said this of the company's over 6 MILLION DOLLAR QUARTERLY PROFIT:
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.
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.
Tuesday, July 31, 2007
About time our leader visitied...Geir Haarde touches down
Here's the announcement:
The Honourable Danny Williams, Premier of Newfoundland and Labrador, will meet with Icelandic Prime Minister, Geir H. Haarde, during his visit to Newfoundland and Labrador on Tuesday, July 31. Following the meeting Premier Williams and Prime Minister Haarde will hold a media availability at 11:30 a.m. in the Media Centre, East Block, Confederation Building.
This marks the first visit to Newfoundland and Labrador for Prime Minister Haarde.
_______________________________________________________________________________________
Now let me carry on from there.
Prime Minister of Iceland Geir Haarde is visiting Newfoundland and Labrador for one day - on his way home from a weekend of activities in Nova Scotia.
Seems only appropriate that the Province (NS) and Nation (Iceland) that are gobbling up our FPI and fishery assets - get together have a party and kick us in the arse on the way out. Let's get a photo-op and a handshake.
Oh and Danny maybe you should check to see if we can build a tunnel to Iceland to giveaway the Lower Churchill hydro-electric power to them. At least they know what to do with it.
I guess we won't give him a basket of fish - I think he's already got one.
The Honourable Danny Williams, Premier of Newfoundland and Labrador, will meet with Icelandic Prime Minister, Geir H. Haarde, during his visit to Newfoundland and Labrador on Tuesday, July 31. Following the meeting Premier Williams and Prime Minister Haarde will hold a media availability at 11:30 a.m. in the Media Centre, East Block, Confederation Building.
This marks the first visit to Newfoundland and Labrador for Prime Minister Haarde.
_______________________________________________________________________________________
Now let me carry on from there.
Prime Minister of Iceland Geir Haarde is visiting Newfoundland and Labrador for one day - on his way home from a weekend of activities in Nova Scotia.
Seems only appropriate that the Province (NS) and Nation (Iceland) that are gobbling up our FPI and fishery assets - get together have a party and kick us in the arse on the way out. Let's get a photo-op and a handshake.
Oh and Danny maybe you should check to see if we can build a tunnel to Iceland to giveaway the Lower Churchill hydro-electric power to them. At least they know what to do with it.
I guess we won't give him a basket of fish - I think he's already got one.
Monday, July 30, 2007
News Break FPI FPI FPI
Looks like the FPI deal may be further off than thought. The company has just issued a News Release postponing the annual and special meeting of shareholders to seek approval for the sale of assets to Ocean Choice and Highliner Foods from August - 07 to an unspecified date before October 31-07.
The most interesting sentence in this Release is:
"Negotiations between FPI and these two companies are ongoing, and there is no certainty that definitive agreements and transactions will result."
CLICK HERE FOR THE NEWS RELEASE
ATTENTION POLITICIANS - TIME TO COME OFF THE BBQ CIRCUIT...MAYBE IT'S JUST GOING HAPPEN IN THE MIDDLE OF THE ELECTION.
The most interesting sentence in this Release is:
"Negotiations between FPI and these two companies are ongoing, and there is no certainty that definitive agreements and transactions will result."
CLICK HERE FOR THE NEWS RELEASE
ATTENTION POLITICIANS - TIME TO COME OFF THE BBQ CIRCUIT...MAYBE IT'S JUST GOING HAPPEN IN THE MIDDLE OF THE ELECTION.
Wednesday, February 21, 2007
FPI must be purchased by the Province
If Fisheries Minister Tom Rideout was in anyway accurate in reflecting ongoing talks with FPI and their "committee" analysing options for the sale of the company's assets - a new level of arrogance has entered our fisheries industry.
That is very hard to do considering the pompous actions of many of our processors in the past. Not too long ago FPI and the Barry Group proceeded on with a sale of the Harbour Breton plant - had already started renovation work on the plant - before government sanctioned the sale. The government clearly embarrassed negotiated a position where the contract was dated reflecting the actual time government gave the two parties its "permission".
We know one of the parties in the current tangle is FPI and if one of the other is the Barry Group - it would be normal that they proceed on despite legislation or the protests and threats of the Minister.
In either case - the break-up of this company is sinister enough with respect to the new board and whatever objectives they claimed to have had - and the objectives they actually reached. There are far too many secret negotiations going on here - in what ultimately could lead to a new level of monopolization in an industry that is already controlled too much by the corporate sector.
We also have to deal with the lucrative marketing arm and offshore assets as well as the quotas currently held by FPI.
When the corporate fishery was in trouble before - the Crown stepped in and slowly privatized the newly formed company (FPI) - with appropriate legislation to protect the taxpayers investment. It is time to repeat the process.
Currently the only thing we are driving is a process of escalated share value for some of the same people who have torn the company and rural Newfoundland and Labrador apart.
That is very hard to do considering the pompous actions of many of our processors in the past. Not too long ago FPI and the Barry Group proceeded on with a sale of the Harbour Breton plant - had already started renovation work on the plant - before government sanctioned the sale. The government clearly embarrassed negotiated a position where the contract was dated reflecting the actual time government gave the two parties its "permission".
We know one of the parties in the current tangle is FPI and if one of the other is the Barry Group - it would be normal that they proceed on despite legislation or the protests and threats of the Minister.
In either case - the break-up of this company is sinister enough with respect to the new board and whatever objectives they claimed to have had - and the objectives they actually reached. There are far too many secret negotiations going on here - in what ultimately could lead to a new level of monopolization in an industry that is already controlled too much by the corporate sector.
We also have to deal with the lucrative marketing arm and offshore assets as well as the quotas currently held by FPI.
For all these reasons - it would be prudent for the NL government to buy out the shares of the company at a negotiated value that more clearly reflects an average of share value over the past 3 years. After that is done an open and transparent process can begin including the determination of what ultimately we want our fishery to look like - including federal legislation - the dispensing of FPI assets - a new federal-provincial plan on management - and meaningful public discourse with stakeholders and the people of the province.
When the corporate fishery was in trouble before - the Crown stepped in and slowly privatized the newly formed company (FPI) - with appropriate legislation to protect the taxpayers investment. It is time to repeat the process.
Currently the only thing we are driving is a process of escalated share value for some of the same people who have torn the company and rural Newfoundland and Labrador apart.
Monday, February 19, 2007
Breaking News....Clearwater goes shopping...
Clearwater raising money for possible acquisition...
Canada's Clearwater Seafoods Income Fund said Monday it is seeking up to $50 million in new financing to improve the company's capital structure and allow it to pursue potential acquisitions.
I wonder what Risley is looking to acquire?
Possibly a piece of the FPI pie?
Now that would be a surprise - wouldn't it?
Read the News Release
Clearwater Seafoods Income Fund Raises Funds to Enhance Capital Structure and Pursue Potential Acquisitions
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
HALIFAX, Feb. 19 /CNW/ - Clearwater Seafoods Income Fund (TSX: CLR.UN)
("the Fund") and Clearwater Seafoods Limited Partnership ("Clearwater") today
announced that the Fund has entered into an agreement with a syndicate of
underwriters led and bookrun by TD Securities Inc. with co-lead underwriters
BMO Capital Markets and Scotia Capital Inc., and including CIBC World Markets
Inc., National Bank Financial Inc., and Beacon Securities Limited, to issue to
the public on a bought-deal basis, convertible unsecured subordinated
debentures (the "Debentures") for $1,000 per Debenture for gross proceeds of
$43,500,000 (the "Offering"). In addition, the Fund has granted the syndicate
an over-allotment option, exercisable for a period of 30 days following
closing, to purchase an additional $6,525,000 of Debentures which, if
exercised, would increase the gross proceeds of the Offering to $50,025,000.
The Debentures will be convertible into units of the Fund (the "Units")
at the option of the holder at a conversion price of $5.90 per Unit, subject
to adjustment in certain events. Closing of the Offering is expected to occur
on or about March 9, 2007, subject to satisfaction of customary conditions
including receipt of all necessary regulatory approvals.
The Debentures will bear interest at a rate of 7.25% per annum, payable
semi-annually in arrears on March 31 and September 30 of each year commencing
on September 30, 2007. The Debentures will mature on March 31, 2014.
The Fund will file a preliminary short-form prospectus relating to the
issuance of the Debentures with securities commissions and similar regulatory
authorities in each of the provinces of Canada except Quebec.
This news release does not constitute an offer to sell, or the
solicitation of an offer to buy, any securities in any jurisdiction. The
Debentures being offered have not been and will not be registered under the
United States Securities Act of 1933 and state securities laws. Accordingly,
the Debentures may not be offered or sold in the United States except pursuant
to applicable exemptions from registration.
About Clearwater
Clearwater is recognized for its consistent quality, wide diversity and
reliable delivery of premium seafood, including scallops, lobster, clams, cold
water shrimp, crab and groundfish.
Since its founding in 1976 Clearwater has invested in science, people,
technology, resource ownership and resource management to preserve and grow
its seafood resource. This commitment has allowed it to remain a leader in the
global seafood industry.
Canada's Clearwater Seafoods Income Fund said Monday it is seeking up to $50 million in new financing to improve the company's capital structure and allow it to pursue potential acquisitions.
I wonder what Risley is looking to acquire?
Possibly a piece of the FPI pie?
Now that would be a surprise - wouldn't it?
Read the News Release
Clearwater Seafoods Income Fund Raises Funds to Enhance Capital Structure and Pursue Potential Acquisitions
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
HALIFAX, Feb. 19 /CNW/ - Clearwater Seafoods Income Fund (TSX: CLR.UN)
("the Fund") and Clearwater Seafoods Limited Partnership ("Clearwater") today
announced that the Fund has entered into an agreement with a syndicate of
underwriters led and bookrun by TD Securities Inc. with co-lead underwriters
BMO Capital Markets and Scotia Capital Inc., and including CIBC World Markets
Inc., National Bank Financial Inc., and Beacon Securities Limited, to issue to
the public on a bought-deal basis, convertible unsecured subordinated
debentures (the "Debentures") for $1,000 per Debenture for gross proceeds of
$43,500,000 (the "Offering"). In addition, the Fund has granted the syndicate
an over-allotment option, exercisable for a period of 30 days following
closing, to purchase an additional $6,525,000 of Debentures which, if
exercised, would increase the gross proceeds of the Offering to $50,025,000.
The Debentures will be convertible into units of the Fund (the "Units")
at the option of the holder at a conversion price of $5.90 per Unit, subject
to adjustment in certain events. Closing of the Offering is expected to occur
on or about March 9, 2007, subject to satisfaction of customary conditions
including receipt of all necessary regulatory approvals.
The net proceeds of the Offering will be used to enhance Clearwater's
capital structure and more importantly to provide the flexibility to allow
Clearwater to pursue potential accretive acquisitions that will be a strategic
fit with its plan for growth.
The Debentures will bear interest at a rate of 7.25% per annum, payable
semi-annually in arrears on March 31 and September 30 of each year commencing
on September 30, 2007. The Debentures will mature on March 31, 2014.
The Fund will file a preliminary short-form prospectus relating to the
issuance of the Debentures with securities commissions and similar regulatory
authorities in each of the provinces of Canada except Quebec.
This news release does not constitute an offer to sell, or the
solicitation of an offer to buy, any securities in any jurisdiction. The
Debentures being offered have not been and will not be registered under the
United States Securities Act of 1933 and state securities laws. Accordingly,
the Debentures may not be offered or sold in the United States except pursuant
to applicable exemptions from registration.
About Clearwater
Clearwater is recognized for its consistent quality, wide diversity and
reliable delivery of premium seafood, including scallops, lobster, clams, cold
water shrimp, crab and groundfish.
Since its founding in 1976 Clearwater has invested in science, people,
technology, resource ownership and resource management to preserve and grow
its seafood resource. This commitment has allowed it to remain a leader in the
global seafood industry.
Thursday, February 08, 2007
This Nova Scotia Blogger has some real issues
with the "private club" in Nova Scotia's legislature...
Some interesting points on John Risley - payment to vote - and grants to the elite...
Here's a taste of the post:
Have a Read Press Here
Some interesting points on John Risley - payment to vote - and grants to the elite...
Here's a taste of the post:
The Regressive CONservatives of Nova Scotia have a long list of issues they intend to debate this weekend, they claim. It makes their pissup sound more important than it really is.
They need as much positive publicity as they can get, after all of the dirt that has come to light on them over the past few months, so, this event won’t be as SECRET as most of their dealings usually are. Of course, the media will be out in full force to report the goings on … after they have a few free drinks and hit the buffet table.
Have a Read Press Here
Sunday, February 04, 2007
Damn our forefathers - because this time they knew...
This is for Gus Etchegary and Lloyd C and the good fishermen - women and plant workers and citizens who call the Fisheries Broadcast - write letters - speak up at public forums - call open-line back-talk and nightline - about the disaster that is our fishery.
The following was written by Gus Etchegary and he has agreed to publication on Sue's Blog!!
PLEASE READ
How can Loyola Hearn justify hiring Loyola Sullivan as Ambassador of
Fisheries Conservation? This question has to be repeatedly asked until a
satisfactory response is given.
Lets look at the facts and if I am out-to-lunch please tell me because I,
for one, am not prepared to let those snakes slide past without bringing
public attention to a number of issues tied directly to Hearn's
irresponsible action. This Fisheries Minister who was elected with the
solemn promise to a group of supporters that he would take measures to
protect our five hundred and fifty year old fishery from going out of
existence and in that process clean up the mess in DFO. A mess that has been
accumulating since the 1968/70 period.
A quick review of that commitment to a group composed of retired bureaucrats, scientists (not from DFO), former fishery executives, fishermen and others, indicated he was sincere and a man of integrity when he, with the help of all parties, succeeded in passing a resolution in the House of Commons in support of Custodial Management. Furthermore both he and Harper confirmed that commitment during the election campaign. Most of us were delighted to see him appointed Minister of Fisheries.
That elation didn't last long. Three weeks after his appointment and at a meeting with him and four of his senior bureaucrats it became clear the bureaucracy had claimed another victim.They had him by the "scruff of the neck" and we would witness much more evidence of DFO bureaucracy at work as the weeks progressed.
There is no need to go into detail. Suffice to say, Loyola has lost the ball
and any hope of a firm commitment by the Prime Minister of Canada to engage
NAFO countries in serious custodial management discussions to rebuild our
fisheries after fifteen years of useless moratorium. Unless Canada, as a
nation, stands firm and resolute to rebuild our renewable fisheries it will
never happen. As has been the case since extension of jurisdiction to 200
miles in 1977 no amount of intervention by DFO Ministers Regan, Andersen,
Dahiwal, Thibault, Crosbie or Hearn will bring a sense of responsibility
from European or Scandinavian countries who are raping our diminishing stocks. NAFO is simply a shield and Hearn not being familiar with international fisheries and its machinations is being whipped into acceptance of the empty promises by NAFO countries which are supported by diplomats in DFO and External Affairs. And it promises to get worse before we have a change in attitude by the Prime Minister.
About two months ago Loyola Hearn began singing the praises of Loyola
Sullivan from the rooftops as the "leading negotiator in the country" and
giving him full credit for the Accord success. He repeated those accolades
several times and then lo and behold and suddenly, Sullivan resigns, dumps
Premier Williams with the Premier appearing to have been hit by lightening.
Everybody and his brother were speculating on why this awful tragedy hit us
at this crucial time. FPI, under Risley and Armoyan was coming apart at the
seams, Amoyan ( as he announced when he bought his shares) was on the road
to success having taken over FPI with shares at 5 bucks and now reaching for
11.00 dollars share value. The Company was being split up with the valuable
marketing arm going to our benevolent neighbors ( Highliner of NS) who
Williams says have agreed to "look after" NL production!!!!!! ( Some of us
well remember forty year experiences with Highliner). The world was coming
down around our ears and Sullivan the great negotiator was leaving.
All the other FPI assets based in NL will go to either Barry Bros. (Loyola's
relative involved) or to Penneys ( More Sullivans involved). A special FPI
committee composed of those great fishery pioneers Coleman, the grocer----Anthony, the insurance agent and Woodward, the ferry operator, will decide which one of the bidders will take the spoils and recommend accordingly to the Board composed of Risely, McGrath( the Union), Armoyan and the three members of that special committee. You will recall the FPI Board had refused to enlarge the Board Membership to include more NLers some weeks ago as was legislated by the Williams/ Sullivan Government.
In the meantime, the mystery of Loyola's resignation suddenly becomes clearer. Sullivan is appointed Conservation Ambassador on the basis of his extensive experience growing up on the Southern Shore and working during the summer trap season. In the meantime we all know he spent his career as a school teacher and as an astute politician with little or no knowledge of the problems involved in conservation and rebuilding a fishery. And neither will that capability come from Hearn and other senior bureaucrats who have been standing by watching two of the last remaining groundfisheries, turbot and yellowtail flounder, being plundered by Canadians and foreigners (under a Canadian flag) catching undersized fish, incapable of reproduction, being landed and shipped to Asia. Not a single pound being processed in NL. We have been urging DFO for years to deal with undersized fish harvesting and its just now being noticed and commented on by scientists in the Independent yesterday. This is a flagrant violation by DFO of basic conservation
measures which I and others have brought to the attention of DFO officials many times without without the slightest response to deal with it. It is a fact of life that Sullivan's relatives are engaged in this practice and it will be interesting to see if the Ambassador of Conservation intervenes and stops this practice.
This business of Sullivan's appointment has introduced a conflict of interest unknown ever before in our fisheries. Sullivan having jumped ship and abandoned the NL Government will suddenly find himself in a position of influence.
With relatives in each camp of the eventual winner of the FPI spoils and
with a new controversial Fishery Act about to be introduced which could
funnel every usable quota into the hands of those with influence, those
interested in a viable NL fishery had better wake up. This could happen
because the new Act, if passed, could destroy any semblance of "common
property resource" and have permanent transfer of whatever quotas are
available to those with influence.
Hearn created the Ambassadorship and came to the rescue of Sullivan who as
Finance Minister and and a Member of the IEC knew full well the impending
uproar (which we have witnessed during the last 48 hours) was on the horizon
regarding the $2875 check for 48 MHAs after lying to the Unions. He,
Sullivan, is partially responsible for this mess because he participated in
the process. Yet, through Hearn he is not drummed out of the country, which
he would be elsewhere, instead he lands the plum of still another pension
and another fat salary as the Ambassador.
And we haven't seen anything yet. Wait till the Ambassadorial staff is hired
and the travelling starts across the Pond and to Asia and Australia and NZ,
Ottawa, BC, Inuvit etc etc etc begins to accumulate. $500,000 will about
cover the first week of activity in the New department.
Any hope of their being a rational, well-developed plan, scientifically
based to bring back our fisheries has disappeared over the hill through the
irresponsible actions of the DFO Minister and the appointment of total
misfit to a position which is so unnecessary, useless and costly to the
Canadian taxpayer.
There is little doubt now that we get what we deserve because we stand back
and let irresponsible people run our fisheries and not open our mouths. Our
children and grandchildren will never forgive us.
This is to all those involved in the destruction of that "backbone of the economy" renewable resource - especially the gutless and/or corrupt politicians. Hang your heads in shame - but this time it's for the record. No more guessing who did what (like the Upper Churchill) - no - this time live with it - let it follow you into the annals of Newfoundland and Labrador history....
The following was written by Gus Etchegary and he has agreed to publication on Sue's Blog!!
PLEASE READ
Our children and grandchildren will never forgive us
How can Loyola Hearn justify hiring Loyola Sullivan as Ambassador of
Fisheries Conservation? This question has to be repeatedly asked until a
satisfactory response is given.
Lets look at the facts and if I am out-to-lunch please tell me because I,
for one, am not prepared to let those snakes slide past without bringing
public attention to a number of issues tied directly to Hearn's
irresponsible action. This Fisheries Minister who was elected with the
solemn promise to a group of supporters that he would take measures to
protect our five hundred and fifty year old fishery from going out of
existence and in that process clean up the mess in DFO. A mess that has been
accumulating since the 1968/70 period.
A quick review of that commitment to a group composed of retired bureaucrats, scientists (not from DFO), former fishery executives, fishermen and others, indicated he was sincere and a man of integrity when he, with the help of all parties, succeeded in passing a resolution in the House of Commons in support of Custodial Management. Furthermore both he and Harper confirmed that commitment during the election campaign. Most of us were delighted to see him appointed Minister of Fisheries.
That elation didn't last long. Three weeks after his appointment and at a meeting with him and four of his senior bureaucrats it became clear the bureaucracy had claimed another victim.They had him by the "scruff of the neck" and we would witness much more evidence of DFO bureaucracy at work as the weeks progressed.
There is no need to go into detail. Suffice to say, Loyola has lost the ball
and any hope of a firm commitment by the Prime Minister of Canada to engage
NAFO countries in serious custodial management discussions to rebuild our
fisheries after fifteen years of useless moratorium. Unless Canada, as a
nation, stands firm and resolute to rebuild our renewable fisheries it will
never happen. As has been the case since extension of jurisdiction to 200
miles in 1977 no amount of intervention by DFO Ministers Regan, Andersen,
Dahiwal, Thibault, Crosbie or Hearn will bring a sense of responsibility
from European or Scandinavian countries who are raping our diminishing stocks. NAFO is simply a shield and Hearn not being familiar with international fisheries and its machinations is being whipped into acceptance of the empty promises by NAFO countries which are supported by diplomats in DFO and External Affairs. And it promises to get worse before we have a change in attitude by the Prime Minister.
About two months ago Loyola Hearn began singing the praises of Loyola
Sullivan from the rooftops as the "leading negotiator in the country" and
giving him full credit for the Accord success. He repeated those accolades
several times and then lo and behold and suddenly, Sullivan resigns, dumps
Premier Williams with the Premier appearing to have been hit by lightening.
Everybody and his brother were speculating on why this awful tragedy hit us
at this crucial time. FPI, under Risley and Armoyan was coming apart at the
seams, Amoyan ( as he announced when he bought his shares) was on the road
to success having taken over FPI with shares at 5 bucks and now reaching for
11.00 dollars share value. The Company was being split up with the valuable
marketing arm going to our benevolent neighbors ( Highliner of NS) who
Williams says have agreed to "look after" NL production!!!!!! ( Some of us
well remember forty year experiences with Highliner). The world was coming
down around our ears and Sullivan the great negotiator was leaving.
All the other FPI assets based in NL will go to either Barry Bros. (Loyola's
relative involved) or to Penneys ( More Sullivans involved). A special FPI
committee composed of those great fishery pioneers Coleman, the grocer----Anthony, the insurance agent and Woodward, the ferry operator, will decide which one of the bidders will take the spoils and recommend accordingly to the Board composed of Risely, McGrath( the Union), Armoyan and the three members of that special committee. You will recall the FPI Board had refused to enlarge the Board Membership to include more NLers some weeks ago as was legislated by the Williams/ Sullivan Government.
In the meantime, the mystery of Loyola's resignation suddenly becomes clearer. Sullivan is appointed Conservation Ambassador on the basis of his extensive experience growing up on the Southern Shore and working during the summer trap season. In the meantime we all know he spent his career as a school teacher and as an astute politician with little or no knowledge of the problems involved in conservation and rebuilding a fishery. And neither will that capability come from Hearn and other senior bureaucrats who have been standing by watching two of the last remaining groundfisheries, turbot and yellowtail flounder, being plundered by Canadians and foreigners (under a Canadian flag) catching undersized fish, incapable of reproduction, being landed and shipped to Asia. Not a single pound being processed in NL. We have been urging DFO for years to deal with undersized fish harvesting and its just now being noticed and commented on by scientists in the Independent yesterday. This is a flagrant violation by DFO of basic conservation
measures which I and others have brought to the attention of DFO officials many times without without the slightest response to deal with it. It is a fact of life that Sullivan's relatives are engaged in this practice and it will be interesting to see if the Ambassador of Conservation intervenes and stops this practice.
This business of Sullivan's appointment has introduced a conflict of interest unknown ever before in our fisheries. Sullivan having jumped ship and abandoned the NL Government will suddenly find himself in a position of influence.
With relatives in each camp of the eventual winner of the FPI spoils and
with a new controversial Fishery Act about to be introduced which could
funnel every usable quota into the hands of those with influence, those
interested in a viable NL fishery had better wake up. This could happen
because the new Act, if passed, could destroy any semblance of "common
property resource" and have permanent transfer of whatever quotas are
available to those with influence.
Hearn created the Ambassadorship and came to the rescue of Sullivan who as
Finance Minister and and a Member of the IEC knew full well the impending
uproar (which we have witnessed during the last 48 hours) was on the horizon
regarding the $2875 check for 48 MHAs after lying to the Unions. He,
Sullivan, is partially responsible for this mess because he participated in
the process. Yet, through Hearn he is not drummed out of the country, which
he would be elsewhere, instead he lands the plum of still another pension
and another fat salary as the Ambassador.
And we haven't seen anything yet. Wait till the Ambassadorial staff is hired
and the travelling starts across the Pond and to Asia and Australia and NZ,
Ottawa, BC, Inuvit etc etc etc begins to accumulate. $500,000 will about
cover the first week of activity in the New department.
Any hope of their being a rational, well-developed plan, scientifically
based to bring back our fisheries has disappeared over the hill through the
irresponsible actions of the DFO Minister and the appointment of total
misfit to a position which is so unnecessary, useless and costly to the
Canadian taxpayer.
There is little doubt now that we get what we deserve because we stand back
and let irresponsible people run our fisheries and not open our mouths. Our
children and grandchildren will never forgive us.
Monday, January 22, 2007
A Nova Scotian Blogger takes aim at John Risley
EI - Plant Closures - Taxpayer Input - re-opening of Plant
Check out this blogger's info and opinion of John Risley of FPI infamy...
HawkEyeNews
Check out this blogger's info and opinion of John Risley of FPI infamy...
HawkEyeNews
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