600 lose jobs at Arcelor Mital

[sMASH]

Not in this case. Pure economics.

[EmilioA]

so you have good financial management...cool for you, eh? thing is to link how a big global industry operates to a PM in a small country is bull. these job losses are part of this firm's global retrenchment, little else. I only responding in dis thread cos it funny to see de UNCs and them cite economic illiteracy.
the general trend is dis is symptomatic of a bad PNM econonmic management...no lol. http://www.meps.co.uk/World%20Carbon%20Price.htm leh Dr. Keith tek the blame, cos UNCs tink he should.

If you did not know it was first ISCOTT an all owned PNM government steel plant, built with tax payers money.
That went bust in the mid 1980s and then it was leased by NAR to ISPATT that made huge profits that leaped frogged Mittal to where he is today. Its was the Trinidad Plant that part built his fortune with cheap Trini labour and a weak trade union.
Mittal later brought the Plant lock stock and barrel in the mid 1990s
So in reality it was the PNM and the lazy workforce that bust ISCOTT . There was always a market for steel.

There is also one other Iron plant in Pt Lisas and they to my knowledge are still up and running with no Job cuts. This plant normally ships its good workers abroad to other plants to work.

Yes boy I like your thinking . The damn plant get sold in 1990s but somehow PNM still responsible for them.
With that kinda thinking we should be blaming Kamla for the next 30 years.

When the plant was opened in the very 1980s and if it had the right people with good work ethics to run it Trini would still own the plant and make billions.
The wrong people were employed that bust the plant in mid 80s indians took it over and made billions.

You do the maths

You mean the same Indians who laying off people now ?

[Numb3r4]

The Minister of labour said that employers should exhaust all other possible options before laying off workers.

What I want to know is that who would listen to the ministry when they are terrible at managing labour.

[Numb3r4]

With respect to the the increase in the electricity rates well what can I say buy more flat screens from Pricemart and install more air condition units.....

[Gladiator]

The Minister of labour said that employers should exhaust all other possible options before laying off workers.

What I want to know is that who would listen to the ministry when they are terrible at managing labour.

I dunno but from my perspective I see a boomerang effect. When in opposition they supported the UNIONS with the unreasonable requests, protests, bad behavior etc etc

Workers get accustomed to work to rule. Now you in govt and don't want the companies that suffered to lay off the monsters that you create. Not to mention lack of productivity, inefficiency and general lack of work ethics by the same workers that was encouraged by the unions.

[Numb3r4]

^^^ To be honest I understand what they trying to do a little damage control and trying to reassure the population but still man get going on some real reform....

Don't the steel workers have a union have they said anything?

[Twin Isle Cars n' Parts]

With respect to the the increase in the electricity rates well what can I say buy more flat screens from Pricemart and install more air condition units.....

And the population at large still cannot recognize the tidal wave of trickle down effects in our near future, unnecessary & irrelevant spending continues through the season like nothing's happening...

[Daran]

With respect to the the increase in the electricity rates well what can I say buy more flat screens from Pricemart and install more air condition units.....

And the population at large still cannot recognize the tidal wave of trickle down effects in our near future, unnecessary & irrelevant spending continues through the season like nothing's happening...

For some. I know many who are cutting back and looking to sell their carnival costume. Thousands of contract workers have been laid off with little hopes of a new contract in future.

Net effect will be at least a 5 to 10% decrease in Christmas shopping revenues, perhaps more.

[88sins]

Problem is the " trade unions " in this country quick to jump up and bawl unfair bullsh1t, they quick to support workers and camp outside , dance beat bottle and sing to make a frigging spectacle of themselves. They are so full of sh1t.

Yuh notice that too. Trade unions here generally speaking have little to no use, particularly in the private sector.
What ppl here fail to understand is that for a trade/workers union to have any kind of clout to be an effective negotiator the employer has to acknowledge their existence and their efforts and feel the union is a threat. And no privately owned local company feels threatened by the antics of these comic book union leaders.

[black start]

^tcl.... *shrugs*

[desifemlove]

Ministry saying so is fine. but then if there's no laws, then firms can do what the firetruck they want.

But then they said there was some dispute between dey and union. Why did the union stall the negotiations? And did the Ministry take action in enforcing the labour laws? Did this, perchance, process start under the UNC government? Did she get McLeod to look at dis?

[De Dragon]

so you have good financial management...cool for you, eh? thing is to link how a big global industry operates to a PM in a small country is bull. these job losses are part of this firm's global retrenchment, little else. I only responding in dis thread cos it funny to see de UNCs and them cite economic illiteracy.

the general trend is dis is symptomatic of a bad PNM econonmic management...no lol. http://www.meps.co.uk/World%20Carbon%20Price.htm leh Dr. Keith tek the blame, cos UNCs tink he should.

If you did not know it was first ISCOTT an all owned PNM government steel plant, built with tax payers money.
That went bust in the mid 1980s and then it was leased by NAR to ISPATT that made huge profits that leaped frogged Mittal to where he is today. Its was the Trinidad Plant that part built his fortune with cheap Trini labour and a weak trade union.
Mittal later brought the Plant lock stock and barrel in the mid 1990s

So in reality it was the PNM and the lazy workforce that bust ISCOTT . There was always a market for steel.

There is also one other Iron plant in Pt Lisas and they to my knowledge are still up and running with no Job cuts. This plant normally ships its good workers abroad to other plants to work.

WTF you get dat from?

[goalpost]

from up his ass...

[zoom rader]

so you have good financial management...cool for you, eh? thing is to link how a big global industry operates to a PM in a small country is bull. these job losses are part of this firm's global retrenchment, little else. I only responding in dis thread cos it funny to see de UNCs and them cite economic illiteracy.

the general trend is dis is symptomatic of a bad PNM econonmic management...no lol. http://www.meps.co.uk/World%20Carbon%20Price.htm leh Dr. Keith tek the blame, cos UNCs tink he should.

If you did not know it was first ISCOTT an all owned PNM government steel plant, built with tax payers money.
That went bust in the mid 1980s and then it was leased by NAR to ISPATT that made huge profits that leaped frogged Mittal to where he is today. Its was the Trinidad Plant that part built his fortune with cheap Trini labour and a weak trade union.
Mittal later brought the Plant lock stock and barrel in the mid 1990s

So in reality it was the PNM and the lazy workforce that bust ISCOTT . There was always a market for steel.

There is also one other Iron plant in Pt Lisas and they to my knowledge are still up and running with no Job cuts. This plant normally ships its good workers abroad to other plants to work.

WTF you get dat from?

My former workmates have been working abroad ( Louisiana) with that same company. I once worked in three different iron plants in Trinidad bro. In case you did not now there was 3 DR iron plants in Trin or you could say four depending how you look at it.

Even ISPATT shipped it's trini workers to run their Mexican plant in the late 1980s

[Advent]

we could have been the Taiwan of the Caribbean sigh

I don't think we have enough ladyboys for that, but I could be wrong.

[BRZ]

Er I thought the reason people go into business is to MAKE money, so once a business is failing to do so and will eventually see loses, then by all means EMployers have that right to shut down............ ignorant unions on the other hand are always the smart a55 when it comes to these situations, theres always another solution according to them, really does the union run my business, does the union pay my employees? does the union have to put up with the DAILY bs that employees do?

why doesn't the Union just hush their Stink mouths

[TriP]

i see dis..salaries of Arcelormittal mittal management

[BRZ]

^^ HAppens in almost ALL of those Big energy companies, but in most cases we are not the major shareholders so the Expats have the upper hand, But shouldn't that info you posted be COnfidential?

[Allergic2BunnyEars]

i see dis..salaries of Arcelormittal mittal management

Per month? I doubt that.

[Dizzy28]

Those salaries look suspect.....meant to rouse the rabble I feel

[acesinghit]

That $17,423. TTD monthly figure, what position title does that apply to? It can't be highest for non expat right? Even for Manager that is low. That has to be a clerical to supervisory level salary.

[jedismurf99]

If those USD salaries were per year, it would seem reasonable.

[Dizzy28]

They look to low to be yearly but too high to be monthly. A Managing Director at US$93,000. That's TT$591,000. If monthly that only works out to $50,000. State Enterprise CEOs get more than that.

[RBphoto]

A low level expat engineer in the construction/ offshore O&G industry in Trinidad (US or UK citizen expat, not Indian, Chinese, African or south american) can make about $30,000.00 USD per month, plus housing allowance, car allowance (or company car), plus they don't normally work only 40 hours a week, sometimes staying in the office late to rack up overtime of up to 70 hours a week. Those salaries are a little high in my opinion, but not impossibly so.

[cornfused]

Thousands of contract workers have been laid off with little hopes of a new contract in future.

Daran , this was the case when the PPUNC government came into power . In fact due to the measures taken in the first few years of that regime , many Ministries still have not recovered only the good action and sense of PS's made many Ministries survive . Don't believe the hype Sir , contract professionals in the Govt was started under this present party .

As for the matter at hand , ISCOTT , ISPAT , MItall companies have usually borne the vagaries of world trade the easiest. China who was once eating as much as 46-50% of finished and steel production in the world has curtailed this demand , The major demand has steadily come from the US and eastern Europe . The next major demand this year in terms of projects maybe would the the construction associated with the Rio games .

Arcor Mittal is the largest steel producing company in the world . A mega multinational, who maybe has reacted to union demands
https://www.worldsteel.org/dms/internetDocumentList/bookshop/2015/World-Steel-in-Figures-2015/document/World%20Steel%20in%20Figures%202015.pdf

[djaggs]

The truth is Mittal kept the Trinidad operation opened a long time because it was here he made his fortune, thats the truth. I think he may have been a little sentimental towards the local plant. They have been closing plants all over the world and it was only a matter of time.

We have a very very bad record running any kind of industry here in Trinidad, it only makes money when foreigners come and take it over. e.g Fertrin, now PC Nitrogen, Grace Kennedy now Hydro Agri.

How come TCL have a monopoly but losing money ??? cuz...it being run by corrupt idiots,

Petrotrin, 3 billion debt ??

We cant run nutten, not even government. The only thing we know how to run is we mouth.

[Daran]

The truth is Mittal kept the Trinidad operation opened a long time because it was here he made his fortune, thats the truth. I think he may have been a little sentimental towards the local plant. They have been closing plants all over the world and it was only a matter of time.

We have a very very bad record running any kind of industry here in Trinidad, it only makes money when foreigners come and take it over. e.g Fertrin, now PC Nitrogen, Grace Kennedy now Hydro Agri.

How come TCL have a monopoly but losing money ??? cuz...it being run by corrupt idiots,

Petrotrin, 3 billion debt ??

We cant run nutten, not even government. The only thing we know how to run is we mouth.

Hit the nail on the head, it's simple though. Very few trinis have the mentality and determination to make it profitable. The forigners who come here to work, work harder, smarter and have a lot more at stake (careerwise) than the average trini. Combine that with the nepotism 'eat ah food' mentality that exists in our workculture, you can easily understand why these locally managed (not all though) struggle to turn profit.

[BRZ]

Maybe we should look at Importing someone to Run CARNIVAL so it can actually HELP the economy, rather than the Usual village idiots locally.

[cheese pie]

Maybe we should look at Importing someone to Run CARNIVAL so it can actually HELP the economy, rather than the Usual village idiots locally.

you might be on to something

[S_2NR]

Ibtpatriots