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Government disbands firm for spending more than it takes in
| Summary: The president sent troops in to take over the facility and dismissed its 40,000 workers. Workers are protesting the government decision. The president said said the company had been "losing one-third of the electricity it distributed because of theft, technical failures, corruption, or inefficiency." There was no other option but to liquidate the company, he said, "because time and resources were running out." The president is planning to pay $1.5 billion in severance to the employees -- nearly twice the amount required by law -- in order to encourage the workers to walk away without a fight. BTW, the firm has always been government-owned & operated, the president is Calderon, and the government is Mexico's. |
Posted by: Anguper Hupomosing9418 2009-10-14 |
