First Calgary Petroleum Ltd

Calgary, Alberta – Rumours that Richard Anderson, the troubled and under fire CEO of troubled First Calgary Petroleum Ltd, the Calgary based developer of Algerian natural gas reserves, is headed down the road became true today as the company announced that Mr. Anderson had decided to resign amid the current controversy surrounding his decisions and corporate choices in the last year.

This happened after rumours that dissident major shareholder Waterford Finance and Investment Ltd carried the board’s decision to restructure the company’s current board and shake up its complacent managers.  Apparently the two sides came to an agreement during the proxy battle that will see the company made up of a board of directors nominated directly from Waterford but will still be headed by current chairman Garfield Emerson, while the new CEO will be Shane O’Leary, who is a former executive for EnCana and BP. 

We were able to contact company officials, who wished to stay unnamed, for comment on the current situation at Calgary Petroleum Ltd.  Stating that the new board still needs to be voted on and this will occur at First Calgary’s annual corporate meeting this Friday, but the company would release a press statement at this time.

In conclusion, customer, investor and employee confidence in a company can be a finicky thing; boards need to stay aware of their customers, investors and employees ideas about the company and people who run the company.

Restructuring a company requires input from all who are effected by such decisions and this seems to be what is missing in this situation, input from the employees who will be doing the work that produces the product the company sells.

Cott Corporation Makes Cuts

Toronto, Canada – Rumours of coming cuts to  Cott Corp’s current employee roster, across the full spectrum of the troubled soft drink producers many divisions, were heard grinding the rumour mill in the employee locker room of the world’s largest producer of store-branded carbonated soft drinks for groceries and other retailers, mostly in the United States , Canada and Mexico.

This comes after Cott recently parted ways with former CEO Brent Willis, after the corporation was informed by Wall-Mart, its largest customer that it was going to loose some of its valuable shelf-space and merchandising support at the world’s number one retailer, and the recent appointment of Director David Gibbons to the empty post of CEO at the corporation.

Rumours floating around the corporations have employees doubting the new CEO and dreading any plans he might have for cutting costs at the corporation.

Nobody at the company could be contacted, despite repeated attempts, they are probably busy planning the demise of thousands of highly trained and valued employees, and may want to hold off on any announcement until  Thursday, when they have a scheduled meeting of the board.

In conclusion, Cott has been the talk of troubled waters lately, but they have been awful quiet about the whole affair, you’d think they would at least implement a policy of commenting to try to alleviate the current stress being experienced by many of their worried employees, but then maybe they don’t expect to have to deal with many of these employees soon.

CanGro Foods Closing Plants

Exeter, Ontario – The town of Exeter Ontario and about 130 people who mostly work at the CanGro Foods vegetable and fruit processing plant situated in the small town got bad news this morning as the company announced it was closing the plant in the community that will be hit hard by the closure.  This apparently has sparked rumours the CanGro Foods could be in trouble and that more plant closures and additional job losses can be expected in the near future as the company fights to stay competitive and get rid of assets pulling it down.

Trench mice was able to contact Mr. Ken Oke, a peaceful and helpful man, about the current situation, saying only that the town will be hit hard by the closure that most of the 130 people live in the community and it’s always been the reason many people stayed in the town, and he’s not sure how this will effect the rest of the people in the town whose jobs depended on the factory, only that he expects this to hit hard.

In conclusion, apparently CanGro Foods has been shopping around for a buyer for the factory for while, as well as other parts of the company that they apparently want to sell, unfortunately and obviously, these move no one has jumped at the chance yet.  Hopefully, for the town’s sake and the people who work at the 102 year old factory, the new buyer will keep the place running.