Potash corporation is facing supply shortage
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Potash Company News
Post by Melissa Pistilli, Potash Reporter
Post by Melissa Pistilli, Potash Reporter
Potash Corp. is running short of supplies to fill contracts because of a strike at three of its mines, an analyst with JP Morgan reported in an alert to clients.
David silver was quoted as saying:
Absent a settlement, we believe Potash Corp may soon be forced to declare force majeure due to an inability to meet current contractual commitments.
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September 2nd, 2008 at 7:55 am
Typical Western Canada mentality. Sometimes you’d wonder if the execs at Potash are so filthy rich they’d rather see their market presence decline drastically than treat their employees with what they’re requesting.
Let’s get a decent deal in place and get back to work !
September 9th, 2008 at 7:29 am
On the other hand. The price of Potash is simply going to climb with 3 mines ( 5% ) of Potash production on hold ( strike ). TD reckons this could be a real bonus, eg. price goes up, and unmined potash is there for another day.
The union is nuts, because you work somewhere doesn’t make you an owner and give you a share of the profits. Owning the stock does though.
Anyway the deal the union has been offered is extremely good, and everyday they stay off they loose money from their own pockets, while POT sells full production at top prices.
It strikes me that it is time to settle both sides can still benefit, rather than both sides loose e.g. GM style.
September 9th, 2008 at 8:43 am
Union is demanding unrealistic wages. If you want profit from market prices invest, otherwise go back to work.
September 11th, 2008 at 8:32 am
The wages posted on the potash corp web site were meant to be an example of how a bonus plan could work,that is not the money the workers are asking for. We are not idiots . As for Brad who thinks I need to invest I do Invest by working 12 hr day and night shifts.I also invest time or sacrifice time with my family to be at work so my kids can have a good life.I don’t do this by watching the prices on the market!
October 2nd, 2008 at 8:09 am
Okay, the union wants bonuses which would have amounted to over $150,000 for each of their 6,000 workers for the last year alone, based on the price of potash. So the union is saying the company should hand over close to one billion dollars extra to the workers. For that year. The company is expected to sign on for this and keep paying bonuses of this nature? That’s ridiculous. If you form a cooperative and put in equal amounts of money, then you can operate a business that way. If you work for someone like Potash Corp.,workers allready get up to an extra ten percent of their wages in bonuses. Where else does this happen? Unless you own the company, your entitlement to bonuses of that nature is zero. But it seems the union is quite happy to create an environment of entitlement. Give me more, because, I’m special. The union is trying to create a lottery system for its workers and no company is going to agree to such nonsense. If you think that Potash Corp is going to allow the union to back them into a corner, you’re wrong. When the mines shut down and the unions are out, maybe some of the 6,000 workers can get their jobs back.