I see we finnally got some news. More union stuff. Why is it when someone gets fired its never there performance its always something else. Trico should come out with a statement about this. Is there anyone from Trico listening. Do you ever put out any news.
I will be very interested to hear the facts, but I suspect the facts will be somewhat hard to determine from within the legal BS that will cover up everything. While there is a possibility that the firings were improper, what are the chances that the press release is somewhat biased?
I suspect that the two individuals were either fired for other reasons or possibly for the conduct alleged, but after warnings that they were violating contract agreements. I really don't know the management at TMAR, but I do know that the legal situation in this country is such that few companies would take chances on wrongful terminations. Principally because it is too easy to take advantage of job protection laws through our legal system. It is hard enough to fire someone who truly deserves it without threat of a frivolous lawsuit. Where I work, it usually takes a conviction of a criminal act to assure winning a wrongful termination suit. In fact, one fellow, sent to prision for theft of company property, was terminated for failing to show up for work, and he tried to file a wrongful termination lawsuit, based on the fact it was not his fault he couldn't come to work. He figured he was owed his job back when he was released. Unfortunately too many are just settled rather than go through an expensive court case. It is cheaper to pay than to fight. Most get a few years salary as a going away present.
Another incompetent person, was given 3 years of chances to improve his performance. He found a reason to "blow the whistle" on a minor matter towards the end and claims that is why he was terminated. He asked for 2000 times his annual salary in compensation. To defend the suit, it would have cost probably 200 times his annual salary. I don't know what he actually got in settlement, but this might be a good retirement strategy for the unethical.
I'm not sure if it even warrants a response from TMAR. Wouldn't it give it some credibility to even reply to it in the negative? Interesting situation. Hope we hit $16, big level. $22 remains my target in April.
Prodigious: Where have you been hiding, are you still holding long? In regards to the news on Trico, my point is that we will never here a statement from Trico about this or anything else for that matter. Would it be too much for them to come out and say that they are very busy how many of there ships are being used and at what day rates or what contracts they are getting. They never issue any news, or do anything to support there stock price.