got screwed over twice, once by ARI and 2nd by the banks who held the debt who faces a possible significant write down and in turn a drop in share price.
Not only the management should be held responsible but the unionised workers and not only for this company but any manufacturing that faces closure.
I heard on radio this morning that the base salary for a tradie stars at 120k per year and on top of that + + + +. A production work starts at 90k.
How can any manufacturers flourish in these conditions? While the going is good, more revenue and profit will cover the track, but as down turn sweep through, there is nothing to withstand that. The worse part the workers was whinging a 10% pay cut and the stress that causes their family. With the prospect of no jobs now, how stressful are they now? ops forgot the retrenchment payment will come through.
but never mind about the shareholders who have bought the investment with money that has been taxed, just screw them. they are no one important.
ARI will disappear next to no time.
Back to the amber fluids to cool down.
ARI Price at posting:
2.2¢ Sentiment: None Disclosure: Held
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