Call for common front to retain STMicroelectronics
MLP leader Joseph Muscat mobbed by supporters at the party headquarters in Ħamrun, yesterday. Photo: Darrin Zammit Lupi
The new leader of the Malta Labour Party, Joseph Muscat, said yesterday he would be speaking to the Prime Minister in order to put up a common front so that STMicrolectronics will not close its plant at Kirkop.
Addressing a rally at the party headquarters in Ħamrun, Dr Muscat said he was ready to cooperate with the government in the national interest, highlighting the thirst for this new style of politics and saying that the first talks with the government would revolve around keeping STMicroelectronics on the island.
Dr Muscat said he had no intention of politicising, or hindering the issue, but wanted to help and create a national front. The MLP will speak clearly about its ideas and will declare where it agrees or disagrees with the stand taken by the government. Ultimately, one had to understand that failure would not mean a loss to the government and a victory for the MLP but a defeat for Malta.
The MLP expected the government to keep its word and would not fool around with the future of the workers at Malta Shipyards. During the electoral campaign Lawrence Gonzi had given an assurance to shipyard workers and now he had no option but to do what he had promised.
The same applied to prices. The prevailing international situation was already there when the Prime Minister made his pledges and he should now deliver on what he promised. Otherwise, the MLP would remind him of such pledges, Dr Muscat said.
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Zap Branagan
Jun 9th 2008, 17:35
According to ST's website:
"STMicroelectronics is one of the world’s largest semiconductor companies with net revenues of US$10.0 billion in 2007."
Compare that with Malta’s GDP for 2007 estimated to be $9.3 billion.
That implies that the company generates more money world-wide than Malta’s entire economy.
If we examine their latest revenues (first quarter 2008) (http://www.st.com/stonline/press/news/year2008/c2577c.htm) they’re reporting a gross profit of $820 million for that quarter.
Read it again: $820 million.
So the question arises, why are they looking for money from the Maltese government (by proxy the Maltese taxpayer)?
It’s not good news when someone loses their job, but remember, this is a company, not a charity. Perhaps the management in ST Malta needs to change, if the Maltese branch is under-performing compared to the rest of the ST world?
James Sultana
Jun 9th 2008, 15:21
@ Mr. Kelly:
If we had John Dalli`s brainchild, also known as the famous "AMS" for example, where ST employees could find an alternative job, then life would be much easier !
I. M. Dingli
Jun 9th 2008, 14:16
@ Liam Kelly
Perhaps you never heard about Malta Drydocks and Shipbuilding etc..... are these viable in your opinion or rather PN's opinion.
Miguel Fenech
Jun 9th 2008, 13:23
Dear Liam Kelly, it's in PN's nature to treat every individual as "not crucial to Malta", so I'm not surprised they say that even ST is not important. But if I'm not mistaken, up to a few years ago ST was as important as tourism for Malta's GDP. It's easy to say that something that is failing is not crucial for Malta, instead of doing your best to fix problems! And do you really believe that it is Joseph Muscat who wants to hurt taxpayers, create a false economy and be anti-competitive??? Have you already forgotten things PN said like "Finanzi fis-Sod", paying unelected PN ex-MPs 6mts pay in turn of nothing, promising a lot but constantly blaming international pricing for not delivering, and much much more? And do you really believe that PN is not giving strong financial incentives to certain companies? Here is the big difference - for a Social Democratic party every individual is important and the good of the nation will be good for everyone. For others, everyone and everything is expendable, as long as a few powerful people are happy. I bet you would have also reasoned differently if you had relatives working there.
Noel Cutajar
Jun 9th 2008, 13:13
Just for once there was something which we can say all parties agree upon...and here come the usual persons saying that MLP is wasting their energy. I only wish that none of your family members work at ST
Jason Vella
Jun 9th 2008, 12:37
To Liam Kelly:-
Do you have any relatives who work with ST, and perhaps have a mortgage to pay?!
Also, can you please metion the "new other companies" which we are bringing? Apart from smart city - of whihc I did not hear much lately - I cannot remember any others... at least at the same level of ST (50% of Malta' exports)
Liam Kelly
Jun 9th 2008, 11:02
Great, propping up more unsustainable industries for the sole benefit of one or two corporate fat cats.
PN have already said that ST is not crucial to Malta, and are looking for other companies to invest in malta (successfully); whereas the MLP is only interested in propping up companies with no hope of being successful long term; hurting the tax payer, creating a false economy, not to mention the fact that its blatently anti-competitive.