Only if you believe in the tooth fairy would you believe that Mr. Thompson resigned voluntarily.
During Thompson's tenure, he earned approximately US$500,000 a year PLUS a bonus of $150,000 ... in addition, he was granted several hundred thousand stock options.
NO PERMIT ... but Bonuses are "justified"?
How in the hell could Thompson, or anyone else at Crystallex, receive a bonus based on performance objectives during a period of severe financial deterioration ... a 400% decrease in stock price; a decrease in net worth of over $800 million and, most importantly, they have not secured the environmental permit.
To be fair, Crystallex was thrown an eleventh hour curve ball on the permit issue by Venezuela's Environment Minister Yubiri Ortega de Carrizales. However, to hand out bonuses when investors are bleeding from wounds all over their bodies is egregious behavior and mis-management of investor funds.
Not a single dollar of bonus money should be paid to ANYONE untill the environmental pernit is issued and mining operations begin.
CHAVEZ WAKE UP!
ORTEGA IS MAKING YOU AN INTERNATIONAL FOOL!
As for Chavez, his country's inflation rate is near 30% ... the highest in Latin America ... shortages of food, long lines for basic necessities, high unemployment and economic growth slowing to 4.8% (the lowest in four years) will cripple his country if something is NOT done to stimulate investment very soon.
All this during a boom in oil prices! What does this tell you?
You can't run a country on one major industry ... small businesses are leaving the country and people are starving and now the government has sent in the military to remove by force miners who are trying to earn a meager living. How dare they violate the Human Rights of these critically poor people?
I blame Minister Ortega de Carrizales for civil unrest ... she has the blood on her hands for what is going on in Venezuela right now. She is responsible for creating major problems for the Venezuelan people and sending out messages around the world that Venezuela is NOT the place to invest in.
How can she sleep at night knowing what her position has done to her own people?
Some tell me, she sleeps pretty well... Make your own conclusions about that comment!
Dan Russo
dtr1029@aol.com
____________________________________
Venezuela is facing the most difficult period of its history with honest reporters crippled by sectarianism on top of rampant corruption within the administration and beyond, aided and abetted by criminal forces in the US and Spanish governments which cannot accept the sovereignty of the Venezuelan people to decide over their own future.
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