PrimeTime Report last night

[dems4me]

Did anyone watch this? http://abcnews.go.com/Primetime/Mine/story?id=1476409

There was much, much, much more said than what they have in the excerpt here from the show. Basically, I was outragged by the time I was done seeing this show Basically the owner of the company took it over a few months ago to trim down and then resell. He is a business tycoon (a billionaire) that makes his living buying companies going in the toilet, and then he trims them down to make them economical and then resells... more like a "vulture" as the owner described it... "he scrapes the dead flesh off and then resells"....

Further into the interview, he stated his company would put forth $2 million towards the 13 families. He then was grilled about it and he admitted NONE of this was any of his personal money (mind you he has billions).

Here's the part that made me furious and not even touched on in the recap article. He started stating about Americans being a generous nation and that Americans would probably help out as they do all other causes in time of need and that he didn't see fit to contribute ANY money of his own toward the cause basically because Americans would donate they way they have always donated for causes, Katrina, Tsunami, etc... What bothers me is he has billions of dollars, he was aware of every collapse and other major safty violations but yet will contribute nothing out of his own pocket because he's playing on the generousity of americans to jump in. So I look up the primtime link and there's no mention of this other than "the company" donating 2 million. I'm like WTF? Why isn't there any mention of his crap about America picking up the tab because we are big hearted ??? Any one else see this last night :shrug:

 

[dems4me]

Aha!! Here's just a touch on what was said ...

"Wilbur Ross, whose recent wedding was the talk of New York society, says he hopes Americans will give generously to the miners although the billionaire admitted to ABC News that he has yet to give a dollar of his own money.

"We own about a third of the company, and we will decide what to do about a personal contribution as we see what comes in from the outside," he said."

 

[PJumper]

Aha!! Here's just a touch on what was said ...

"Wilbur Ross, whose recent wedding was the talk of New York society, says he hopes Americans will give generously to the miners although the billionaire admitted to ABC News that he has yet to give a dollar of his own money.

"We own about a third of the company, and we will decide what to do about a personal contribution as we see what comes in from the outside," he said."

I think I'll play as Devil's advocate on this one. Isn't it true to say that if he did not bought (rescued) the mine a few months ago then the miners will be out of a job? Also, the the company set aside $2 miilion for the victim's families but we don't know if that's on top of insurance money (they're supposed to have one, right?) each miner's had. To tell you the truth, if i'm Mr. Ross, I would have walked out of that interview. The correspondent has definitely set him up with his line of questionings. Those miners worked for the company, not as Mr. Ross' personal workers so doling out cold cash from personal bank account should not be expected, but appreciated if acted upon. It's just like saying that the President has to give personaly everytime somebody dies in combat because he knows that there's a risk the soldiers might get killed due to hazardous environment. Just my ten cents.

In the business world, Ross is known as a shrewd investor who buys companies in trouble. Two years ago, he made his move into the coal industry and recently rescued the tiny Sago mine that had been in bankruptcy for two years. Although Ross bought into a mine that, for its size, may have been the most dangerous coal mine in America, he maintained that it met industry standards.


"I believe that the mine was fundamentally safe," he said.


Mine Received 16 Citations Last Year

But based on Department of Labor records that were reviewed by "Primetime," the Sago mine received 16 citations last year for the most serious violations, called unwarranted failures, issued in the industry.

 

[dems4me]

I think I'll play as Devil's advocate on this one. Isn't it true to say that if he did not bought (rescued) the mine a few months ago then the miners will be out of a job? Also, the the company set aside $2 miilion for the victim's families but we don't know if that's on top of insurance money (they're supposed to have one, right?) each miner's had. To tell you the truth, if i'm Mr. Ross, I would have walked out of that interview. The correspondent has definitely set him up with his line of questionings. Those miners worked for the company, not as Mr. Ross' personal workers so doling out cold cash from personal bank account should not be expected, but appreciated if acted upon. It's just like saying that the President has to give personaly everytime somebody dies in combat because he knows that there's a risk the soldiers might get killed due to hazardous environment. Just my ten cents.

In the business world, Ross is known as a shrewd investor who buys companies in trouble. Two years ago, he made his move into the coal industry and recently rescued the tiny Sago mine that had been in bankruptcy for two years. Although Ross bought into a mine that, for its size, may have been the most dangerous coal mine in America, he maintained that it met industry standards.


"I believe that the mine was fundamentally safe," he said.


Mine Received 16 Citations Last Year

But based on Department of Labor records that were reviewed by "Primetime," the Sago mine received 16 citations last year for the most serious violations, called unwarranted failures, issued in the industry.

Did you actually watch the interview?? I think he's a creep. Ick!!! He has billions of dollars and instead wants to see how much money comes in from the americans to help before he'd spend a dime. Most americans ARN'T billionaires. I'd just keep it in house if it was me and I was a billionaire, I wouldn't be begging the hard working americans to contribute to these families when I'm sitting on a stack of billions of dollars and have contributed NOTHING. Just tasteless,greedy and selfish if you ask me. It was his mine, his buisness venture and him that reaped any profilts and him that sat there and did nothing with safty violation after safty violation, and now he's asking America to contribute to the 13 families and he's contributed NOTHING? And more than likely will never contribute nothing personally? What gall...

 

[PJumper]

Did you actually watch the interview?? I think he's a creep. Ick!!! He has billions of dollars and instead wants to see how much money comes in from the americans to help before he'd spend a dime. Most americans ARN'T billionaires. I'd just keep it in house if it was me and I was a billionaire, I wouldn't be begging the hard working americans to contribute to these families when I'm sitting on a stack of billions of dollars and have contributed NOTHING. Just tasteless,greedy and selfish if you ask me. It was his mine, his buisness venture and him that reaped any profilts and him that sat there and did nothing with safty violation after safty violation, and now he's asking America to contribute to the 13 families and he's contributed NOTHING? And more than likely will never contribute nothing personally? What gall...

I understand what you're saying but at the same time there's some questions that needed to be answered like:

1. If the mine is that unsafe, why would inspectors let it operate? yes I heard what the guy said about the Bush's administration's reluctance to pursue those violations but if they have balls and cornerned enough about the welfare of those miners, they would have done something.
2. He only owned the mines for a few months, why not go after the original owners who let it run down the way it is and pocketed the money from the sale.
3. Mr. Ross is a businessman. You buy companies to hopefully make profit, which at this point he probably never seen yet and you want him to take a chunk out of his money on top of company money to compensate for the families? Like I said, they should have their insurance knowing the hazards of their job.

 

[StarCat]

"We own about a third of the company, and we will decide what to do about a personal contribution as we see what comes in from the outside," he said."

That statement makes him sound asinine Is he waiting to see if America gives "enough" so he can throw the last few pennies in? I could see, if he were saying it, and adding "see what comes in from the outside so that I can match it" that would sound much better.