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Ben_spanna wrote:^^^ As Usual
Blame the company and poor management.
Stupid ignorant people who are not at the helm of businesses facing stiff impossible import competition will always make such remarks.
Blame your government and CARICOM for selling out the region.
Theres NO protection, no advantages to manufacturing to compete against CHEAP imports that are not regulated nor taxed.
CARICOM used to play a vital position in importing into the region, but within the last 5-8 years have now withered down with no backbone and no apparent stance to securing its survival.
88sins wrote:Ben_spanna wrote:^^^ As Usual
Blame the company and poor management.
Stupid ignorant people who are not at the helm of businesses facing stiff impossible import competition will always make such remarks.
Blame your government and CARICOM for selling out the region.
Theres NO protection, no advantages to manufacturing to compete against CHEAP imports that are not regulated nor taxed.
CARICOM used to play a vital position in importing into the region, but within the last 5-8 years have now withered down with no backbone and no apparent stance to securing its survival.
So, lemme get this right, you saying that it's the state's fault and that the state was supposed to ensure and supply protection for the interests of a private company? Where you get that idea? From a St. Ann's outpatient off he meds?
Son, the company, the exact same way they are the sole ones that set and seek to make sure they make and maintain their profit margins, is the sole one responsible for making sure they retain their market share so that the market remains satisfied with their products and doesn't have the need or want to seek alternative sources of goods, thus reducing their market share and profitability.
So, by your logic, you'd prefer that the state restrict, make less attractive or even outright ban the import of cheaper alternatives, to suffer the entire population, and in so doing aid in the potential creation of a monopolistic scenario? You want to tell ppl that they can only spend their money on local, regardless of the fact that the ppl getting better quality goods at a significantly lower cost,( thus greater value for money), by choosing to buy imported goods? You want to tell them to ignore that, for the sake of protecting a company that doesn't care about them or it's workers?
The prices of everything increasing, both local products and imported. That not changing anytime soon. What's needed is for companies to find methods of increasing their efficiencies, reducing losses, and expanding and fulfilling the different needs within the local, regional and international markets. Look at KISS for example. KISS is a local baking company, with multiple regional offices. Flour still selling in the grocery cheaper than their product, and similar goods can be found in small bakeries all over the country. But you ever hear KISS say "the gov't should stop the groceries from sellin flour cuz ppl makin they own bread & cake & bake & sada roti & that taking away from we sales, and stop small bakeries from being able to make or sell anything close to what we make & sell"?
Shiddy directions taken by shiddy executives, lead to shiddy outcomes. whether you can accept that or not is your business.
Ben_spanna wrote:Continue being a sufferer!
Not even going to waste a paragraph on you.............
jhonnieblue wrote:Know some personal friends working Unilever.
Basically the company can't compete and it's no longer profitable to continue operating in trinidad. Especially with the union.
The Mexican arm will probably take over manufacturing.
shake d livin wake d dead wrote:jhonnieblue wrote:Know some personal friends working Unilever.
Basically the company can't compete and it's no longer profitable to continue operating in trinidad. Especially with the union.
The Mexican arm will probably take over manufacturing.
Root of all the sheit in Trinidad
screwbash wrote:how come this type ah ting never happen under the kamla led government.
ADONI wrote:Massy Technologies consisted of and now remains with Infocom only;
1. Infocom (formerly, Illuminat)
2. Communications (now Amplia)
3. Applied Imaging (formerly, Pierrea and Company). Now sold and renamed.
agent007 wrote:ADONI wrote:Massy Technologies consisted of and now remains with Infocom only;
1. Infocom (formerly, Illuminat)
2. Communications (now Amplia)
3. Applied Imaging (formerly, Pierrea and Company). Now sold and renamed.
I need clarification on something, if possible of course.
Back when the Group was Neal & Massy Holdings which got renamed to just Massy Holdings in 2014, both Pereira & Co. and Illuminat got renamed to Massy Technologies Applied Imaging (MTAI) and Massy Technologies InfoCom (MTIC).
According to amaranthbusinesssolutions.com, they mentioned that back in same 2014, Pereira & Co. got renamed to Amaranth Business Solutions Applied Imaging (ABSAI) and not MTAI.
But on the companies website of the MoLA, the name of the company is Amaranth Business Solutions (formerly JDAP Holdings) registered on May 29th 2019.
MTAI also according to the companies website registered on October 31st 2005, a whole 9 years prior to the Group’s rebranding.
According to the 2019 Annual Report Financial Statements under Notes to the Consolidated Financial Statements, section 1, it shows that MTAI is still 100% owned by the a Group.
Under section 35, Disposal of Subsidiaries, the report indicates that on September 30th 2019, the Group sold MTAI to JDAP Holdings Limited. It went on to say that the assets of MTAI was purchased by 4 stakeholders of the Group (2 Directors of MTAI, an employee of Massy Ltd. and an executive director of Massy Holdings.)
The registered address for Pereira, Amaranth and MTAI all continue to be 88 Queen St. POS.
Questions:
1. How is it that the amaranth website made no mention of Pereira? This is contrary to the info on current and past annual reports.
2. Why would the 2019 annual report refer to a name that was subsequently renamed, that is, JDAP which is the former name to Amaranth?
3. Why not name the 4 persons who now own the former assets of MTAI/Pereira & Co.?
Anyway, the report went on to indicate under section 36 entitled ‘Subsequent Events’, indicated the amalgamations of Massy Gas Products Limited, Massy Petrochemicals Ltd, Massy Energy Engineered Solutions Ltd and Massy Energy Fabric Maintenance Ltd, all effective 3rd December, 2019.
Let’s see what happens to the other sectors/BU’s of the Group.
Non PNM need to ride out from here , this is no place for decent folk.rspann wrote:Nah, Grate is the PNM vision 2030. Here gonna be a paradise.
rspann wrote:Me nah leaving as long as PNM in power.
De Dragon wrote:rspann wrote:Me nah leaving as long as PNM in power.
Easy dey PNM Denyse Plummer
Thousands on the breadline
CHARLES KONG SOO
More than 20,000 people have lost their jobs in T&T since 2015.
One of the largest mass retrenchments was the approximately 5,500 Petrotrin permanent and temporary employees who were sent home when the refinery was shut down on November 30, 2018.
In part two of his national address to the nation called "It's Your Business" on January 7, 2019, Prime Minister Dr Keith Rowley said 20,000 people had lost their jobs in T&T since 2015.
Since then, more people have been placed on the breadline.
The most recent was the 178 Unilever Caribbean Ltd (UCL) where workers faced a bleak Christmas when they were thrown on the breadline in December 2019. According to the latest available data from the Central Statistical Office (CSO) contained in the Central Bank of T&T's Monetary Policy Report of May 2019, the unemployment rate increased to 4.8 per cent in 2017—the highest rate of unemployment since 2012—from 4.0 per cent in 2016.
During 2017, the number of people employed fell by just under 10,000 while the labour force contracted by 4,600 people. This resulted in a small decline in the participation rate from 59.7 per cent in 2016 to 59.2 per cent in 2017.
In the absence of official unemployment data for 2018, retrenchment notices filed with the Ministry of Labour and Small Enterprise Development indicate that retrenchments were higher by over 53.2 per cent (excluding the layoffs due to the closure of the Petrotrin oil refinery) in 2018.
In January-May 2019 retrenchments continued to rise—631 people compared with 412 people in the similar period in 2018. Further, the average number of vacancies advertised in the print media fell by 11.7 per cent (year-on-year) over the first five months of 2019.
Economist: It's a source of concern
Economist Roger Hosein said "The latest official labour market statistics from the CSO indicate that the unemployment rate declined to 3.8 per cent during the first half of 2018 compared with 4.9 per cent during the same period of 2017.
"On a year-on-year basis, total employment fell by 900 persons, while the labour force contracted by 8,500 persons.
"This resulted in a decline in the labour force participation rate to 58.7 per cent over the first half of 2018 compared with 59.7 per cent during the corresponding period of 2017."
"The continued decline in the labour force participation rate is a source of concern since this has implications for future economic prospects."
He said the 3.8 per cent unemployment rate in 2018 was a very low rate, since 2003 it had has been below ten per cent on average.
Hosein said since 2012 the unemployment rate on average per annum had not crossed five per cent which was a very remarkable statistic; on paper, it was one of the best in the world.
He said what was alarming about the T&T economy case was the fall over time in its labour force participation rate which stood at 63.9 per cent in 2006 and collapsed to 58 per cent by 2018.
Hosein said the State made the tremendous error in the last 15 years of being too heavily involved in the labour market and basically starved the private sector for workers.
He said while the private sector was expanding, it was expanding mainly in the services sector. The State, he said, wanted to expand in the non-energy export sector, so the economy developed serious structural imbalances that needed to be addressed.
Hosein said, however, one of the most worrying aspects of the labour market data trends in recent times was the sharp decline in the employment of petroleum and gas sector workers—this collapsed from 21,300 in 2014 to 12,600 in June 2018.
He said the petroleum sector was a highly competitive high human capital sector and the loss of 40 per cent of the employed labour force was a frightening eventuality as these skills if they were lost or migrated to nearby Guyana, Suriname or elsewhere will take time to be rebuilt.
Hosein said policy makers would want to ensure for example that by the time the Ruby field comes on-stream with BHP Billiton in 2023, that the sector was not further starved for workers with the relevant skill-sets.
Companies that laid-off workers from 2015-2019
- ArcelorMittal sent home 600 workers on December 2015 and laid off 800 contract workers earlier that year
- 200 TMS International Corporation workers were also let go in 2015
- Central Trinidad Steel Limited (Centrin) sent home 200 workers on February 2016.
- Over 800 Construtora OAS workers were laid off on March 2016
- Caribbean Development Company which produces Carib beer retrenched 15 workers on May 2016
- 66 workers of roofing producer, GGI Trinidad Limited were sent home on August 2016
- Over 100 workers of the Tourism Development Company were retrenched on August 2017
- 16 workers at the Trinidad Cement Limited (TCL) were put on the breadline on September 2018
- Petroleum marketing and wholesaling company Unipet laid off seven supervisors in October 2018
- Approximately 5,500 Petrotrin permanent and temporary/casual employees lost their jobs when the refinery was shut down on November 30, 2018
- TSTT retrenched over 500 workers on November 15, 2018
- 99 non-academic staff at the University of TT (UTT) received separation letters on August 2019
- 178 Unilever Caribbean Ltd (UCL) workers were thrown on the breadline in December 2019.
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