26 companies seek government assistance to beat recession

Joe Fenech

Jun 25th 2009, 21:12

R.Gatt: Did I say Mintoff wasn't a communist? NO I DIDN'T ! Did I say this happened because of the free market? NO I DIDN'T ! All I said that when one chooses a system, one sticks to it. In capitalism the state is not liable for companies' success or failure. You can't have your cake and eat it in life! If you go bust - TOUGH!

R.Gatt

Jun 25th 2009, 14:13

@ Joe Fenech - Who told you they found themselves in this situation because of free market. It's the global recession that's to blame. Are you still living in the cobweb era Mr. Fenech. Mr. Mintoff's direction was communism. He even invited Romania's dictator Nicolae Ceauşescu to honour him and we all know how it finished there. Those days are best forgotten.

E. Azzopardi

Jun 25th 2009, 11:59

C. Camilleri
I was not that drastic and stated that no help should be given. I said that once the companies start making profit again, then they should repay that "loan".. Simple. That is what is happening abroad or the government is taking a share of that company. This money is not the government's but the people's and furthermore the government should be very very very careful how to give it out. Can you imagine if a certain section of the industry comes to ask for help at this moment in time????? So let us all be reasonable.

d bugeja

Jun 25th 2009, 11:58

jekk jghin azjenda wahda suppost jghin lil kulhadd ghax kulhadd haddiem. mhux sew li ftit haddiema jgawdu u haddiema ohra jsibu lilhom innifishom f sitwazzjoni minghajr xoghol u ma jinghatilhomx ghajnuna filwaqt li ohrajn jiehdu somom minn fuq it tax payer

Joe Fenech

Jun 24th 2009, 09:15

Kien hawn hafna nies riedu l-free market u kienu jghajjru lil Mintoff kommunist, pero issa ghazilna triq u irrid nibqghu fiha. Hekk jonqos nghinu l-kumpaniji issa!! Konna nghidu tant li l-kompetizzjoni tajba. Huduha l-kompetizzjoni!!

Face the music now! In capitalism you survive or you die but it' s YOUR business not ours!

M Zahra

Jun 23rd 2009, 21:32

what most of you are forgetting , is how critical is this help.

2000 people without a job are not JUST 2000 people with a job but it means 2000 families (6000 people?) with less money to spend. Less money to spend = less business for many other enterprises = hence many more jobs.

And also remember that these major companies mentioned in the media (trelleborg, methode, stainless steel) are larger companies (for Malta at least) on which HUNDREDS of other SMEs depend - as they offer them services/products such as transport, printing, advertising, packaging, and many more = therfore if these companies were to reduce their production significantly ..many more hundreds of jobs would be on the line.

Leo Said

Jun 23rd 2009, 19:33

Quote C.Camilleri: "Govt's assistance is to safeguard the jobs of the workers during this period of world recession from which Malta is not immune". @ C.Camilleri Could you kindly answer the questions, which I addressed in my previous post, namely: "Why do the six companies, which are referred to, only have a short term policy, namely for the period between November 2009 and December 2010? What happens after December 2010? Why does government, or Malta Enterprise, not resort to transparency, which would enable the general public to know which companies are affected?"

Joe Grech

Jun 23rd 2009, 18:53

Minister Tonio Fenech should not be too generous with these companies. If they have problems it may well be that it's due to inefficiency - their not diversifying, seeking new markets, reducing costs, etc. This article indicates that at least some companies are seeking government ''help'' not because they face difficulties but simply to expand. This is TAXPAYER money that is being forked out. In the U.S.A. people were very annoyed when the Federal authorities used people's money in the way Minister Fenech is doing. Notwithstanding billions being provided companies went bankrupt just the same! In Malta it may be the same story. Also financial transparency requires that the Ministry of Finance provides a lot more information to explain which companies are being ''helped'' and what the help amounts to. People have become rather sceptical of government efficiency lately. Another thing: I do not know if what is being done is acceptable to the E.U. Trying to avoid unemployment is one thing; helping companies financially to expand is another!

Joe Fenech

Jun 23rd 2009, 17:08

Could these be mentioned? If WE are paying for them, we have a right to know!

c. camilleri

Jun 23rd 2009, 16:06

@Nigel Lawrence and his likes.This is something that all countries hit by the world recession are doing to help workers keep their jobs. Is it possible that everything this Govt does is wrong? Why all this doubts and sneak remarks? When are we going to learn to make arguments without partisan politics?

c. camilleri

Jun 23rd 2009, 15:59

@ E azzopardi I think you have mistake the concept of this assistance. Govt's assistance is to safeguard the jobs of the workers during this period of world recession from which Malta is not immune.

E. Azzopardi

Jun 23rd 2009, 13:21

By all means, if local companies need help, give it to them. After all, the government is very helpful, be it companies, single mothers, electricty subsidies, illegal immigrants etc etc.
But I trust that this money will be repaid back to the people when the companies are back on their feet .

effie carbonaro

Jun 23rd 2009, 12:26

trelleborg made this assistance programme with the goverment and they in turn didnt reduce their workforce.but it is good to notice that from that time till now trelleborg employess have been working normal hours but with a 5% reduction from their weekly wages.now production seems to be getting better so i ask mr martin hignett when will our wages return to normal?please also note that the 7 day course that we are recieving and then taking the rest of the day off has already been paid from our reduced hours decuction.

J Farrugia

Jun 23rd 2009, 11:49

with people's money TRANSPARENCY is a must !!!! Can we see if such assistance is really needed?

Leo Said

Jun 23rd 2009, 10:58

Are the companies concerned in urgent need of government assistance really because of global recession? Could respective mismanagement also be a factor?

Why do the six companies, which are referred to, only have a short term policy, namely for the period between November 2009 and December 2010? What happens after December 2010?

Why does government, or Malta Enterprise, not resort to transparency, which would enable the general public to know which companies are affected?

Nigel Lawrence

Jun 23rd 2009, 10:39

So THIS is what the new government bond issue is all about?