Jul 2012 Financial News

Almond meeting didn’t go as planned

Jul 13, 2012

Plans for the future of the Almond Beach Club, Holetown property are still yet to be fully discussed.

In fact, General Secretary of the Barbados Workers’ Union (BWU), Senator Sir Roy Trotman, revealed that a meeting yesterday with spokespersons from Fairweather Holding Co. – which operates Elite Resorts Inc., given as the holding company that will be responsible for Almond – did not come off entirely as planned.

“Yesterday morning the Barbados Workers’ Union met with representatives of Neal and Massy, a large delegation of workers, and also to be present at that meeting was an Elite spokesperson, but that person did not make the flight from Miami,” he said during a press conference at the BWU Headquarters, Solidarity House.

According to Sir Roy, the intention of the meeting was for the Union to be informed formally on future plans for that property.

“They were able to give us some of that information, but we were not able to have a full discussion as we wanted to because it is not merely enough to know that Almond Beach Club wishes to sell the shares over to another company, without at the sometime being in a position to hear from the new company their plans for the property, but for the workers as well.”

He further revealed that a meeting will be held shortly before the Almond shareholders’meeting slated for the 25th of this month, to pinpoint exactly what the Almond Company will be seeking to do and what the Elite company will be offering.

“Until we hear from them we are not able to properly advise our members, and so the issue as to whether the company is being sold as a going concern; or whether the workers will receive
their severance and have to apply separately for new employment with the new owners are still very much in the air,” Sir Roy said.

“The Barbados Workers’ Union understands the proposal that will be put to the shareholders in two weeks’ time will be a proposal that will seek to have the workers receive their severance and then commence new employment opportunities with the new employers. That is an understanding we have and not a confirmed position and we would have to have discussions with both sides which will have to formally tell us so, and we will be able to tell our membership.”

(TL)


Source:
Barbados Advocate
Friday July 13, 2012

http://www.barbadosadvocate.com/newsitem.asp?more=local&NewsID=25862