- Don II
- December 09, 2012 - 14:33
The Government of Newfoundland wanted to take the water and forestry rights and the electrical generating plant owned by Abitibi and it wanted to take those assets from Abitibi on the cheap through expropriation instead of buying the assets for full market value. The Government of Newfoundland and the Union did absolutely nothing to keep Abitibi in business. When the economy fell apart in 2008, the Government of Newfoundland pounced on a financially weak Abitibi like a cold hearted banker foreclosing on a sick widow. The Government of Newfoundland acted in greed and haste and ended up expropriating the environmentally polluted pulp mill by mistake. The Government of Newfoundland by expropriating Abitibi breached the NAFTA and cost the Harper Government $300 million to settle the case with Abitibi. The Government of Newfoundland got what it deserved which was a worthless pulp and paper mill, a bunch of unemployed mill workers, a $100 million plus environmental cleanup, a losing case in the Supreme Court of Canada, a huge legal bill and a reputation in international business circles as a ruthless, power mad, dictatorial Government that cannot be trusted! The opposition parties, while somewhat remorseful now, went along with this travesty in 2008 and ran as fast as they could to the House of Assembly on Premier Danny Williams orders to vote in favor of ripping off Abitibi! The only thing that Abitibi is guilty of is wanting to obtain top dollar on the market for its assets before being ripped off by the Government of Newfoundland. Abitibi got expropriated before it could put the For Sale sign in the window. It appears that politicians in Newfoundland and Labrador have no ethics, no moral compass and fail to understand that treating business in such a petty and vindictive manner will have long lasting negative repercussions for the future development of Newfoundland and Labrador. The word is out on Wall and Bay Streets, if the Government of Newfoundland ever finds itself in dire financial straits it can no longer expect anyone in international finance to bail it out. What goes around comes around!
- December 08, 2012 - 14:27
During restructuring under the Companies’ Creditors Arrangement Act, the Court must distribute the available assets in a fair way, knowing that virually everybody will not be totally satisfied. What the Government wanted to do in this case was jump to the top of the line and grab some money first. The Government's position is this whole mess is absurd. First, they expropriate the generating stations and contrary to the law, they do not pay for what they expropriated. This is equivalent to stealing. Then, the Government turns around and wants the Company to better the lands that were stolen from them! An analogy for the lay person is "having your car stolen, then when the thieves notice the tires are worn, they install a new set of tires and send you the bill"
- December 08, 2012 - 09:58
it's sad when a company, any company, can come into your backyard, make a mess and then leave the mess for you and/or your grandchildren to cleanup. it just goes to show that we the people have no rights. this is not just about AbitibiBowater Inc.
- P F Murphy
- December 08, 2012 - 07:11
They made this mistake with Danny Williams in charge and it's going to cost only 100 million dollars. Now they have Dunderdale and Kennedy who wouldn't let experts question the Muskrat Falls deal in the House because Kathy and Jerome don't understand it and aren't competent to explain or defend it. I mean what could go wrong and it's only a $7.4 billion deal that a majority want passed because their ears are tired or they're salivating to make a fast buck from the cascade of fumbled contracts that will come out of it. It's like being at sea in the Titanic. It's a wonderful ride for the first while, but not so good when reality hits home. Sail on, sail on!
- December 08, 2012 - 06:45
We all have to suck this one up! This is what we get for electing all persons of all parties, who put themselves forward in public life as politicians but don't have a Sweet Clue about the legal ramifications of actions that could affect every man, woman and child on this island. Even the elected officials who were once Lawyers prior to taking up residence at the Confederation Building, if they were actually any good at Law or at least making any money, they would never have jumped the Law ship into public life.... Unless you were Danny Billions of course!
- December 07, 2012 - 21:00
These people are not fit to hold office. Time to clean house.
- December 07, 2012 - 14:49
he "St. Danny" era should, by now, be known in truth as the era 'of spiteful, childish pranks and complete lack of anything constructive being achieved...except for what the oil companies provided. And until the Muskrat Falls debacle plays itself out as a bankrupting and ruinous event, this Abitibi episode is the most notable bag of flaming dog poop at every Newfoundlaner's front door. Thanks Danny, and all your mindless minions who continue to stroke your gigantic ego.
- Maurice E. Adams
- December 07, 2012 - 14:24
The same kind of 'urgency' that is now being attached to Muskrat Falls.
- former resident of grandfalls-windsor
- December 07, 2012 - 14:15
end of the issue for who mr. minister ? for you and the rest of your overpayed mha friends who made fools out of the people of newfoundland/labrador for propriating the resources and the mill in the first place. the taxpayer are now on the hook for the cleanup. what an embarrassment this government as become to my home province.