Cog in the machine...

In the middle of Saturday's Chamber of Commerce "Sale GOOOOOOD!" public relations story on the front page of the Eagle, I read this:

...At the closing date, Onex will invest at least $375 million of the purchase price. The rest will be financed from Citicorp North American. Onex investment will come from an investment fund, Onex Partners, Onex managing director Nigel Wright said...

Well, assuming that no one's actually lied in any of these news stories -- and I have no reason to assume anyone has -- I wonder what the poker chip buy-in is to become a player at the Onex Partner table. I ask, because I recall this press release ...

TORONTO — Onex Corporation (TSX: OCX.SV) announced today it has agreed to acquire the Wichita/Tulsa Division of Boeing Commercial Airplanes in a transaction valued at $1.5 billion, consisting of approximately $1.1 billion in cash and the assumption of certain liabilities. Senior management of the business will be investors and owners along with Onex.

...and I was just wondering what Messrs Turner, Waner, Jackson, and Brunton had to pay Onex Partners to become "investors and owners" in our Once and Future Company.

Ya see, I'd bet that we employees are anteing up far more into this new business than are those "senior management of the business." We would, therefore, expect to get an equal or greater return on the value of the proposed cuts to our medical and pension and wages that the current contract offers are trying to force us to risk.

As I've stated more than once during negotiations, TurnerCo is asking the workforce to sacrifice its lifestyle "for the good of the Company." From the sacrifice the employees would make, Mr. Wright and Onex should profit. Because of our sacrifice, Mr Turner and the leaders of his Company-To-Be-Named-Later will profit. All I wanna know is how me and my coworkers will profit from the sacrifice we're being asked to make here.


-- Bill, whose grammar be damned...