Global Sticks workers owed thousands
August 2nd, 2012 | Posted in Financial News | 2 comments »
CBC News talked to some of the workers of the bankrupt Global Sticks plant near Thunder Bay, Ontario.
The workers recently met with Global Sticks receiver, Grant Thornton, and learned that Global Sticks has a “deficiency” of more than $14 million.
Many of the workers are owed thousands of dollars and felt pressured at the meeting to sign papers they had not read.
“There was a lot of maybes, and like, ‘this might happen,’ and a lot of telling us to fill out that form,” said Shamara Fields, a worker who attended the meeting.
“And he’s like, ‘if you want to read it that’s OK, but if you take it home that’s going to take longer.’ So that made me feel weird … like I wasn’t allowed to read it.”
No workers will be reimbursed more than $3,200, regardless of how much they are owed. Fields said she was owed more than $5,600.
It will be 6-8 weeks before the workers will get paid.
Read CBC’s article:
Global Sticks workers anxious to get paid – Bankrupt wood product manufacturer tells employees they will get paid in next six to eight weeks
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Sounds like you signed up for WEPP. You get 3200 and change regardless of what happens. If for some reason the company was able to pay you what you were owed, you signed your money over to the feds by accepting the 3200, so you see nothing more that the 3200 or so.
Basically you won’t see anything since they probaby use the Buchanan “I pay myself first even when I am losing” model.
Take the WEPP money.
I am sure there is a photo op somewhere here for Gravelle and his band of thieves who have NO idea as to what really happens around here. Only sure things are the pockets of the thieves who pay them in all the side deals in the past.