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21:52
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Originally posted by loki01:
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In the past I have written on Hotcopper how Medusa basically served as social welfare institution for the thousands of villagers living around the mine, given that it employed around 5,000 workers directly or as contractors. Shareholders saw very little of the economic benefits from that operation in the form of dividends, but at least the mine was relatively safe from government action due to the very strong local support. Andrew Teo was very good in maintaining the company's social license to operate in the Philippines.
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Is there any reason why we cannot vote McGlinn off the Board and decline to put any new persons on? The survival Board could then decide its chairman and look for any new members that it deemed proficient. Basically, a pox on all your houses but keeps the show running (we hope).
(20min delay)