I have faith that at the end of the day, things will all work out. They always do.
Won’t be easy and lots of hard times ahead but those hard times will eventually pass, too.
Fingers crossed it gets picked up and reopens. So much opportunity right there.
A Nation of Sheep Breeds a Government of Wolves!
The workers are needed at sylvamo in eastover
I, too, hope that are buyout could be possible and keep the mill running. However, it sounds like the few people at IP who made this decision tried to sell and could not find a buyer so decided to press the red button. Gut feeling is that this situation will correct itself but just a matter of time and what other external factors arise to facilitate the correction. Not good at the moment, hope things change soon.
"Underperforming" is code words for we can make more profits by shutting this plant and moving production elsewhere. Elsewhere is usually out of this country. It's all about profits and bottom line. In addition, CEO and Executive pay is usually tied to stock performance. You often see a quick turn and burn to maximize sort term company profits often at the cost of US employees' jobs by moving production to other countries.
"International Paper is committed to maximizing value for our shareholders, and to that end, we have launched a comprehensive and thorough review of strategic options for our global cellulose fibers business," said International Paper Chairman and CEO Andy Silvernail.
Where’s Sampit going to haul their chips now? Sad situation for timber industry and Georgetown’s economy
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