ON SAVING EUROCAN: PART 4
Kitimat: July 6th, Riverlodge. The community room was packed with people eager to learn about investing in Eurocan. The next speaker was Marty Frost representing the Western Labour Workers Coop Council.
Frost explained in the coop model, the workers were a stakeholder in the operation of the mill which is autonomous, jointly owned and democratically controlled. Frost’s presentation differed little from the last time he was in Kitimat, found here
He did say if the mill did reopen, it would not be there to maximize profit but to fit the communities needs. A community with a coop will see benefits. These include: the creation of stable, local jobs, local ownership and local control of the profit.
Frost explained in the coop scenario, there are worker members who work in the mill and have invested as well as community members who are people from a community who wish to have a stake in the co-op. The board is made up of ten people, most of which are members with one or two non members. He said investment could be as high as $25,000 per worker
He explained those are what they are looking at right now although they still have some things to look over. He said their next step was to attract an investor which Poyry was already doing.
“It’s been shown that when workers are involved in the ownership and worker coops are involved in the ownership, there is a better chance of success,” said Frost.