ArcelorMittal plant sold to TT Iron Steel Company Ltd

[Allergic2BunnyEars]

So who laughing now?

Point noted.


ArcelorMittal confirms closure; says employees will get all payments they're entitled to

”

At least those laid off workers will get thier money. The others ? Who knows.

On the news it was said that whether you worked for 6 months or 30 years Mittal giving one month salary severance pay.

[Dizzy28]

So who laughing now?

Point noted.


ArcelorMittal confirms closure; says employees will get all payments they're entitled to

”

At least those laid off workers will get thier money. The others ? Who knows.

On the news it was said that whether you worked for 6 months or 30 years Mittal giving one month salary severance pay.

They cant. There is a minimum standard to follow by law.

[jm3]

Feeling it for them right now. Losing your job is probably the most scary thing I can think of, it's really important to have a second income it seems

[Mark!]

hadda do like some men on tuner here and rent yuh bamsee couple times every month..

[BRZ]

Union wanna play up in their arse, well the company did the right thing, Bankrupcy and da firetruck with everyone.

[jhonnieblue]

They can..once they declared insolvency..so one month pay
Union put pressure on them..smh
With all the pressure they faced esp with gas prices etc


Sent from my iPhone using Tapatalk

[pugboy]

Getting paid whatever due is a moot point.
Unions know very well that lump sum payments usually get spent and disappear very fast in the hands of a typical unionized worker.

Union man say on news he want govt to takeover, lol

[konartis]

^^ no they don't...there are guidelines based on proper practice, but a private company can do as they please and if a person is affected, they can seek redress in the court based on mortality. There are no laws that govern them, this is why the government sector is well protected...laws are clearly set out in relation to employees etc...

The private business lied to you.

We are a common law jurisdiction. That means case law is as binding a legislation. The case of Annamunthodo vs OWTU decided by the Privy Council laid out that even private entities have to abide by things like fairness, legitimate expectations and due process.

These are not vague "morality" . These are long defined legal terms which mean you have to operate in a certain way and not how ever you feel like just becuase you are private.

and u still ent prove me otherwise...which part of seek redress in the court you don't understand?? they have to abide by fairness, legitimate expectations and due process...all could be proven quite easily and this is a totally different case all together...what is prejudicial about a company folding due to financial down turn??

[Habit7]

Whether we want to blame the union, international markets or the company itself we all will be affected by this.

AM is the largest user of electricity in the country so T&TEC would be making less money now, so too NGC and WASA. Customs will get less money because less imports and PLIPDECO as well. Plus all the contractors and downstream companies will have to lose out too.

Prepare for more austerity.

[Allergic2BunnyEars]

So who laughing now?

Point noted.


ArcelorMittal confirms closure; says employees will get all payments they're entitled to

”

At least those laid off workers will get thier money. The others ? Who knows.

On the news it was said that whether you worked for 6 months or 30 years Mittal giving one month salary severance pay.

They cant. There is a minimum standard to follow by law.

http://www.trinidadexpress.com/20160311 ... -a-tragedy

Labour Minister Jennifer Baptiste-Primus has described as a “real tragedy” the loss of jobs for over 600 ArcelorMittal workers.
She said it was particularly sad because they were going home with no severance package.
The Minister said she only received information via correspondence from the company of the decision yesterday.
She explained that filing for insolvency, which ArcelorMittal has done, was a judicial process. She said she was in the process of writing to the company to enquire what type of winding up process this was and who are the company’s creditors. “We want to know what is the status of the workers’ separation benefits. My understanding is that other creditors may have priority over the payment of benefits to the workers,” she said, adding that she had initial advice from the Attorney General.

[mista25]

AM initiated a strategic move and were already of losses of more than 200m USD last year. These union leaders most of the time most of the time try to secure wins because they benefit from it greatly.

It was a matter of time before AM wound up in Trinidad because they declared 19billion dollar losses worldwide. Sad to see all those workers go home. We should create an unemployment post in this forum to now measure how many people are on the breadline as it now exceeds 8000.

[sMASH]

So imagine all those people used to buy doubles and make market and do projects so purchased from hardware and ting. All that spending will come down drastically. All the spin off economies will suffer as well.

It would be in the best Interest of the country to get these people re employed . Not necessarily at the same salaries, but enough to their households and provide business for the spinoff sectors.

[Allergic2BunnyEars]

AM initiated a strategic move and were already of losses of more than 200m USD last year. These union leaders most of the time most of the time try to secure wins because they benefit from it greatly.

It was a matter of time before AM wound up in Trinidad because they declared 19billion dollar losses worldwide. Sad to see all those workers go home. We should create an unemployment post in this forum to now measure how many people are on the breadline as it now exceeds 8000.

Good point on the declared losses thing. The union backed down from a strike in Petrotrin couple years back because the workers knew the state of the market and the company. So agreed that unions should know when to fight and when to duck.

[York]

So imagine all those people used to buy doubles and make market and do projects so purchased from hardware and ting. All that spending will come down drastically. All the spin off economies will suffer as well.

It would be in the best Interest of the country to get these people re employed . Not necessarily at the same salaries, but enough to their households and provide business for the spinoff sectors.

Yet prices not really going down, labour cost should to encourage the wheels spinning. Building a house may cost $10,000 less than the $800,000 to $1000,000 last year.

Companies talking about growth in a recession too. Oh and they good at cooking their books to show low net profit or losses so as to not pay corporation tax.

[BRZ]

So as predicted here comes senior Roget with his usual singing song bullsh1t, can't believe they would suggest Nationalizing the company and the entire Industry .Trade unions really need to hush dey Kants, if anyone is to blame is the faking lazy, non productive labor, they are the absolute worse in this country, they always quick to cry injustice but they take so many extra days, reach to work late, always sick .... Bleh blew bleh"......

[Allergic2BunnyEars]

So as predicted here comes senior Roget with his usual singing song bullsh1t, can't believe they would suggest Nationalizing the company and the entire Industry .Trade unions really need to hush dey Kants, if anyone is to blame is the faking lazy, non productive labor, they are the absolute worse in this country, they always quick to cry injustice but they take so many extra days, reach to work late, always sick .... Bleh blew bleh"......

I'm glad I don't work for you. So Mittal fold up cuz of the workers?

[pugboy]

Manning took over Air Jamaica last time and put CAL to run it.

so maybe Rowley can take over Arcelor Mittal and localize it
hand it straight to the union to run for themselves
a true win win situation for everybody

would the union be capable and willing of handling this ?

[acesinghit]

I remember when I lost my job I had to re-adjust my spending (a lifestyle adjustment). Swallow your pride and get out there and find a job. There are countless opportunities out-there, my advise to any AM employee who may be a bit timid to admit of the job loss and admitedly so, find a job! Anything you can get, take it! Be it a bank teller, a kiosk operator in a mall, a gas station pump attendant or going into gardening and car washing. Do something productive with your time because your family is more than worth it. Small ting to give up your new SUV. Dial back and get a local used or foreign used but never give up. They could take away your job but your qualifications/education/experience, family and most importantly your health is your wealth!

[sMASH]

^^ see that there

So imagine all those people used to buy doubles and make market and do projects so purchased from hardware and ting. All that spending will come down drastically. All the spin off economies will suffer as well.

It would be in the best Interest of the country to get these people re employed . Not necessarily at the same salaries, but enough to their households and provide business for the spinoff sectors.

Yet prices not really going down, labour cost should to encourage the wheels spinning. Building a house may cost $10,000 less than the $800,000 to $1000,000 last year.

Companies talking about growth in a recession too. Oh and they good at cooking their books to show low net profit or losses so as to not pay corporation tax.

Give it some time to for the people to feel it. For the small man to build small ting, he would get cheap labor. The big businesses can cook their books too well to consider. I seeing it all now, men running down wuk, eventually their asking price would drop just to get sum ting.

[zoom rader]

Working in any job is like investing in the stock market. You get in just before the rise of profit and get out at the top.

I worked in the then ISPAT when they now started operations and got out when they were at their peak in profits. Fellow workmates said I was crazy to leave, but I sensed the steel market would take a hit. A year later the first drop in steel took place , I was already working in Oil & Gas and now I have done the same as I have gotten out of Oil & Gas.

Trin workers are too complacent, don't ever believe that there is employee loyalty .
The only sure work is . working for yourself, cutting grass and the undertakers.

[York]

Minister like she eh wake up and realize she has a job to do yet!

[EmilioA]

^^ no they don't...there are guidelines based on proper practice, but a private company can do as they please and if a person is affected, they can seek redress in the court based on mortality. There are no laws that govern them, this is why the government sector is well protected...laws are clearly set out in relation to employees etc...

The private business lied to you.

We are a common law jurisdiction. That means case law is as binding a legislation. The case of Annamunthodo vs OWTU decided by the Privy Council laid out that even private entities have to abide by things like fairness, legitimate expectations and due process.

These are not vague "morality" . These are long defined legal terms which mean you have to operate in a certain way and not how ever you feel like just becuase you are private.

and u still ent prove me otherwise...which part of seek redress in the court you don't understand?? they have to abide by fairness, legitimate expectations and due process...all could be proven quite easily and this is a totally different case all together...what is prejudicial about a company folding due to financial down turn??

Like you dont know what you writing . You said There are no laws that govern them.

Now you saying they could apply to the court ? If there are no laws that govern them, then how the courts involved ? Like you ent understand courts does apply the law ?

And now I see you shifting goal posts to bankruptcy proceeding which is an entirely different legal procedure to firing someone.

Come back when you figure out what it is you trying to say.

[EmilioA]

Union wanna play up in their arse, well the company did the right thing, Bankrupcy and da firetruck with everyone.

So the union cause 1.2 billion dollars in losses for AM ? Not the management ? Typical

So as predicted here comes senior Roget with his usual singing song bullsh1t, can't believe they would suggest Nationalizing the company and the entire Industry .Trade unions really need to hush dey Kants, if anyone is to blame is the faking lazy, non productive labor, they are the absolute worse in this country, they always quick to cry injustice but they take so many extra days, reach to work late, always sick .... Bleh blew bleh"......

So how come AM was here for so many years ? Is not the same labour they had before ? It had nothing to do with cheap energy and tax breaks ?

TTEC was going to raise the rates on AM, property tax was coming, that's part of why they run.

[Redman]

If Mittal is such a money Satan...then we should be sure that the business is not a good place to be.

The reality is that we not competitive at these prices.

We enjoyed the commodity super cycle....we on the other side of that now.

Would we be in a different situation with the Al smelter?

[EmilioA]

If Mittal is such a money Satan...then we should be sure that the business is not a good place to be.

The reality is that we not competitive at these prices.

We enjoyed the commodity super cycle....we on the other side of that now.

Would we be in a different situation with the Al smelter?

Probably not. Aluminium was US$1.10 per pound in 2011. Its 71 cents now.

The problem is all the money that should have been saved from the high energy prices, Kamla gone and spend. We should be garnishing she wages and putting a lien on she property until she pay back the 32 billion dollar overdraft.

[khandman]

If Mittal is such a money Satan...then we should be sure that the business is not a good place to be.

The reality is that we not competitive at these prices.

We enjoyed the commodity super cycle....we on the other side of that now.

Would we be in a different situation with the Al smelter?

Probably not. Aluminium was US$1.10 per pound in 2011. Its 71 cents now.

The problem is all the money that should have been saved from the high energy prices, Kamla gone and spend. We should be garnishing she wages and putting a lien on she property until she pay back the 32 billion dollar overdraft.

So we only had high energy prices for the last five years?

[Redman]

before allyuh go down the UNC/PNM road....

Check the average oil prices for any 5 year period.
Calculate the revenues earned by the Country.
Look at the budgets and the debt levels under your respective party of choice.

BAsed on that, 2010-2015 I think we had:
The highest WTI reference prices in any 5 year period.
the highest revenue for any 5 year period.
The Largest Budgets for any 5 year period.
The largest increases in Debt in any 5 year period
We also had the Highest expenditure in any 5 year period.

In the context of the above....how would you rate our preparedness for the next 5 years???



Draw your own conclusions.

Any one dumb enough to try to rank the UNC/PNM in terms of quality should first look at differentiating between the parties on the basis of economic philosophy and Financial policy.


I suggest that there is none.

We have been governed by the same spend as much as possible as fast as possible disposition
regardless of party.

same sheit.
only softer

[tr1ad]

Manning took over Air Jamaica last time and put CAL to run it.

so maybe Rowley can take over Arcelor Mittal and localize it
hand it straight to the union to run for themselves
a true win win situation for everybody

would the union be capable and willing of handling this ?

ansa coming to save the day

[yohyoh]

From first hand experience, it all stemmed from shithong management. If people only knew the kind of decisions them used to make. Shopfloor workers and the union dont control the finances of the company. Losses incurred due to poor management. Managers all from india, who have no experience or management skills. They was running it like a parlor.

[cherrypopper]

Manning took over Air Jamaica last time and put CAL to run it.

so maybe Rowley can take over Arcelor Mittal and localize it
hand it straight to the union to run for themselves
a true win win situation for everybody

would the union be capable and willing of handling this ?

ansa coming to save the day

This recession is ansa ticket to owning everything. . When all is bought you will hear economy bounce back. .