W Friday protesting union representatives JSW signed with the board memorandum of understanding and discrepancies. At the weekend protest protesters waned and underground miners came to the surface. In turn, on Monday surprised us several thousand demonstration in front of the company. Today, the miners began their protest occupation, and several miners decided it would be a hunger strike.
Only now, Treasury Minister Wlodzimierz Karpinski asked to convene an extraordinary general meeting of shareholders. According to the minister wishes she has to take place as soon as possible and has taken the issue of changes in the composition of the Supervisory Board and the articles of association of the company.
The whole course of events is surprising for me! Government officials have hinted that the protocol discrepancies walking towards agreement. In contrast, the trade unions argued that it will continue to sustain the protest. I was a little surprised by such differences. Thus, we “something”. We do not know what, but as the name of the document says, this is a list of issues for which no agreement. The unions still await the government’s position. Also, the supervisory board does not comment officially, covering the president Jaroslaw Zagórowskim. From a negotiating point of view I do not know if it’s a good way …
At JSW we have a situation such that the sale of 45 per cent. Government action brought in the budget of 5.4 billion. In 2012, it was decided to pay a dividend to shareholders totaling over 600 thousand. gold, and in 2013 – more than 200 thousand. Out that the company has drawn nearly 6.5 billion. Then the company purchased the mine “Boar-Szczyglowice”. He never shows what value is the purchase of the mine. Only the purchase of this was presented as a rescue Coal Company.
Note that for a long time falling JSW shares on the stock exchange. Since the beginning of inheritance or the supervisory board, or the government, and even the president Zagórowski not relate. President of the often speaks of investments. I would like to materialized, about what he was talking about investments. What these measures should be.
A parallel issue is the social side of the report. The report raised questions about the increased costs were spent on expertise and not very big millions. Attention is paid even if the increase in the cost of preparing the pavement mine. This cost has increased by nearly 100 percent.! Note that after neither inflation nor the increase in steel prices could not lead to so increase the price!
There is therefore no question of the operation of the employee side, but from the managers. It does not have the answers. It is difficult to be optimistic about the future of JSW. Now everything in the hands of the owners of the company. Hopefully, they will receive an answer to bothering experts and miners questions and find the solution distressed JSW.
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