Re: Xstrata holds firm on decision to cut Timmins jobs
in response to
by
posted on
Apr 18, 2010 07:25PM
Edit this title from the Fast Facts Section
Hi Buckor2,
Respectfully, I think you may need to look at this from another perspective.
Xtrata is still going to proccess in Canada, they have simply chosen to do it in Quebec.
The province of Ontario has been on a 6 year program to make the province as unhospitable to business as they possibly can. Legislation has been geared in a manner that is VERY anti-business. Most people who own and operate companies will tell you that they have been under attack from this government while at the same time the bureacrats have been impowered without limit and operate with no accountability. In 2007 Ontario had the largest increase in government employment in History.....more than 6% . There are now more than 53,000 Ontario government employees who earn more than $100,000.00 a year. Who's supposed to pay for this? Most busineses will go through one election cycle with an anti-business government ...but....after the last election many have chosen less antagonistic climates...
I am making every effort to get financial investment as well as my business out of Ontario. Alberta, for example, is a great place to invest. A bureaucrat there will actually ask how they can solve your problem rather than try to figure out how to create one for you.
Money votes with it's feet.......it leaves for more hospitable enviroments.
Going from the leader of confederation to a have-not province in 4 years can only happen if you are busy driving business out.
Just my opinion, but I think Xtrata should be applauded for protecting their shareholders interest and maximizing their return.......no different then Xtrata pulling back in South Africa because of an un-hospitable climate. Look for a moment at Vale and the Sudbury challenge, Labour laws have been so wieghted in favour of Unions that most businesses are strangled by labour laws and labour board decisions. It isn't called the "labour" board because its there to be fair to business. I would also NEVER invest into a public company that relied on Ontario for its competative edge or profitability.......I doubt you'd find one if you wanted.
I hope that Cliffs thinks long and hard before they consider processing in Ontario
imo....Carry