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Greed and self interest
srcandas
Posts: 1,241 Forumite
Just general weekend observation:
Many will have seen that Sirius Minerals are hoping to get planning permission to construct a large potash mine in the North Yorks National Park. As often it is jobs against environment.
But I note that a partition of those in favour was recently rejected as it contained a few obviously bogus names. And now the organisers of the petition are asking for emails to be sent to the decision makers complaining that their views are being ignored.
Now while there are those on Teeside who will have a real desire to see 4000 new jobs added to the economy the majority of those who signed this partition are just small time shareholders taking a punt to gain a few hundred quid.
Seems odd to me that these people should feel the need to give an opinion.
Even though I have a few shares as a punt I think there is something badly wrong here. I think I may sell even at a little loss and join the environmentalists
. Do we really want shareholders purely motivated by greed getting involved in this way when they are already well represented by the company?
Does anyone else (who has nothing better to do this sunny weekend
) see an issue with this?
:beer:
Many will have seen that Sirius Minerals are hoping to get planning permission to construct a large potash mine in the North Yorks National Park. As often it is jobs against environment.
But I note that a partition of those in favour was recently rejected as it contained a few obviously bogus names. And now the organisers of the petition are asking for emails to be sent to the decision makers complaining that their views are being ignored.
Now while there are those on Teeside who will have a real desire to see 4000 new jobs added to the economy the majority of those who signed this partition are just small time shareholders taking a punt to gain a few hundred quid.
Seems odd to me that these people should feel the need to give an opinion.
Even though I have a few shares as a punt I think there is something badly wrong here. I think I may sell even at a little loss and join the environmentalists
. Do we really want shareholders purely motivated by greed getting involved in this way when they are already well represented by the company?Does anyone else (who has nothing better to do this sunny weekend
) see an issue with this?:beer:
I believe past performance is a good guide to future performance :beer:
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Comments
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The English planning process is such a recipe for corruption I don't know where to start.“It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair0
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"Do we really want shareholders purely motivated by greed getting involved in this way when they are already well represented by the company?"
Shareholders clearly have an interest in the situation, I don't see why they shouldn't sign a petition.
One of the problems of the jobs vs environment trade off is that the NIMBYs know who they are and are vocal, whereas the wider community that could benefits from the jobs, either directly by getting employment, or indirectly through the local retail and services sector is often less aware and so doesn't speak up.
I looked at SXX a few years ago and thought the enviromental aspects looked ok-ish. Potash is 'better' fertiliser than many of the alternatives from the environmental point of view. I didn't invest as I thought the planning horizon looked too long - but I might have another look now!manzanilla0 -
Welcome to capitalism.
They all work on the basis that all other interests are secondary to those of shareholders, and the interests of shareholders are purely financial."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
Welcome to capitalism.
They all work on the basis that all other interests are secondary to those of shareholders, and the interests of shareholders are purely financial.
Exactly and you have persuaded me to make a stand I'm going to sell and hope a just decision is made.
The shareholders are well represented, without being represented twice. And as manzilla says the majority of the shareholders are NIMBYs
It should be left to due process, the locals who want jobs which they think it will bring, the locals who want jobs and think it will destroy them, the company that wants the business, the land owners, government appointed bodies within who's domain it falls, and the experts who can give considered opinion.
Not a greedy load of gambling small time shareholders.
Are the majority of people in the UK today greedy mindless sh1ts or is there hope?
Enjoy your weekend one and all :beer:I believe past performance is a good guide to future performance :beer:0 -
Seems odd to me that these people should feel the need to give an opinion.
Now that I have finished the chores outside and have nothing better to do
...
Not really. I would think it odder if those that had the inclination to hold shares direct did not take an opportunity to try to improve its (and their own) circumstances. Not that this is a view as to the merits of this specific case.
If the shareholder does not believe in what the company is doing then they should do as you are doing, and sell the shares.Are the majority of people in the UK today greedy mindless sh1ts or is there hope?
Abandon all hope. Ye who invest here?
[edit] In fact, I can think of no end of scams and schemes to which the above is very appropriate! [/edit]
Perhaps the answer is in the balances held by such institutions as Triodos and Ecology BS. Also the level of funds invested under Community Investment Tax Relief schemes.Living for tomorrow might mean that you survive the day after.
It is always different this time. The only thing that is the same is the outcome.
Portfolios are like personalities - one that is balanced is usually preferable.
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... 4000 new jobs added to the economy ...
I suspect these "4,000 jobs" includes a high percentage a temporary jobs to set the operation up. Unless they are digging it out with pick, shovel & wheelbarrow, I cannot see a modern potash mine being that labour intensive.
For reference Boulby Potash Mine (which produces around half the current UK output of potash) employs 850.0 -
I suspect these "4,000 jobs" includes a high percentage a temporary jobs to set the operation up. ...
For reference Boulby Potash Mine (which produces around half the current UK output of potash) employs 850.
What about all the jobs created to service those 850?Free the dunston one next time too.0 -
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It's a pity that these local interest, single issue nimby people don't put more effort into fighting the real enemy.0
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