You are on page 1of 4

+LWOHU

V6RFLDO5HYROXWLRQ

,QWKLVH[FHUSWIURPKLVPHPRLUV*HQHUDO/HRQ'HJUHOOHIRUPHUOHDGHURIWKH%HOJLDQ
FRQWLQJHQWRIWKH:DIIHQ66GHVFULEHVKRZ$GROI+LWOHUJDLQHGWKHHQWKXVLDVWLFVXSSRUWRIWKH
ZRUNLQJSHRSOHRI*HUPDQ\
2QHRIWKHILUVWODERUUHIRUPVWREHQHILWWKH*HUPDQZRUNHUVZDVWKHHVWDEOLVKPHQWRI
DQQXDOSDLGYDFDWLRQ7KH6RFLDOLVW)UHQFK3RSXODU)URQWLQZRXOGPDNHDVKRZRIKDYLQJ
LQYHQWHGWKHFRQFHSWRISDLGYDFDWLRQDQGVWLQJLO\DWWKDWRQO\RQHZHHNSHU\HDU%XW$GROI
+LWOHURULJLQDWHGWKHLGHDDQGWZRRUWKUHHWLPHVDVJHQHURXVO\IURPWKHILUVWPRQWKRIKLV
FRPLQJWRSRZHULQ
(YHU\IDFWRU\HPSOR\HHIURPWKHQRQZRXOGKDYHWKHOHJDOULJKWWRDSDLGYDFDWLRQ8QWLO
WKHQLQ*HUPDQ\SDLGKROLGD\VZKHUHWKH\DSSOLHGDWDOOGLGQRWH[FHHGIRXURUILYHGD\VDQG
QHDUO\KDOIWKH\RXQJHUZRUNHUVKDGQROHDYHHQWLWOHPHQWDWDOO+LWOHURQWKHRWKHUKDQGIDYRUHG
WKH\RXQJHUZRUNHUV9DFDWLRQVZHUHQRWKDQGHGRXWEOLQGO\DQGWKH\RXQJHVWZRUNHUVZHUH
JUDQWHGWLPHRII PRUHJHQHURXVO\,WZDVDKXPDQHDFWLRQD\RXQJSHUVRQKDVPRUHQHHGRIUHVW
DQGIUHVKDLUIRUWKHGHYHORSPHQWRIKLVVWUHQJWKDQGYLJRUMXVWFRPLQJLQWRPDWXULW\%DVLF
YDFDWLRQWLPHZDVWZHOYHGD\VDQGWKHQIURPDJHRQLWZHQWXSWRGD\V$IWHUWHQ\HDUV
ZLWKWKHFRPSDQ\ZRUNHUVJRWGD\VWKUHHWLPHVZKDWWKH)UHQFKVRFLDOLVWVZRXOGJUDQWWKH
ZRUNHUVRIWKHLUFRXQWU\LQ
7KHVHILJXUHVPD\KDYHEHHQVXUSDVVHGLQWKHPRUHWKDQKDOIDFHQWXU\VLQFHWKHQEXWLQ
WKH\IDUH[FHHGHG(XURSHDQQRUPV$VIRURYHUWLPHKRXUVWKH\QRORQJHUZHUHSDLGDV
WKH\ZHUHHYHU\ZKHUHHOVHLQ(XURSHDWWKDWWLPHDWMXVWWKHUHJXODUKRXUO\UDWH7KHZRUNGD\
LWVHOIKDGEHHQUHGXFHGWRDWROHUDEOHQRUPRIHLJKWKRXUVVLQFHWKHIRUW\KRXUZHHNDVZHOOLQ
(XURSHZDVILUVWLQLWLDWHGE\+LWOHU$QGEH\RQGWKDWOHJDOOLPLWHDFKDGGLWLRQDOKRXUKDGWREH
SDLGDWDFRQVLGHUDEO\LQFUHDVHGUDWH$VDQRWKHULQQRYDWLRQZRUNEUHDNVZHUHPDGHORQJHUWZR
KRXUVHYHU\GD\LQRUGHUWROHWWKHZRUNHUUHOD[DQGWRPDNH XVHRIWKHSOD\LQJILHOGVWKDWWKH
ODUJHLQGXVWULHVZHUHUHTXLUHGWRSURYLGH
'LVPLVVDORIDQHPSOR\HHZDVQRORQJHUOHIWDVEHIRUHWKHVROHGLVFUHWLRQRIWKHHPSOR\HU
,QWKDWHUDZRUNHUV
ULJKWVWRMREVHFXULW\ZHUHQRQH[LVWHQW+LWOHUVDZWRLWWKDW WKRVHULJKWV
ZHUHVWULFWO\VSHOOHGRXW7KHHPSOR\HUKDGWRDQQRXQFHDQ\GLVPLVVDOIRXUZHHNVLQDGYDQFH
7KHHPSOR\HHWKHQKDGDSHULRGRIXSWRWZRPRQWKVLQZKLFKWRORGJHDSURWHVW7KHGLVPLVVDO
FRXOGDOVREHDQQXOOHGE\WKH+RQRURI:RUN7ULEXQDO:KDWZDVWKH+RQRURI:RUN7ULEXQDO"
$OVRFDOOHGWKH7ULEXQDORI6RFLDO+RQRULWZDVWKHWKLUGRIWKHWKUHHJUHDWHOHPHQWVRUOD\HUVRI
SURWHFWLRQDQGGHIHQVHWKDWZHUHWRWKHEHQHILWRIHYHU\*HUPDQZRUNHU7KHILUVWZDVWKH
&RXQFLORI7UXVW7KHVHFRQGZDVWKH/DERU&RPPLVVLRQ
7KH&RXQFLORI7UXVWZDVFKDUJHGZLWKDWWHQGLQJWRWKHHVWDEOLVKPHQWDQGWKHGHYHORSPHQW
RIDUHDOFRPPXQLW\VSLULWEHWZHHQPDQDJHPHQWDQGODERU,QDQ\EXVLQHVVHQWHUSULVHWKH
5HLFKODZVWDWHGWKHHPSOR\HUDQGKHDGRIWKHHQWHUSULVHWKHHPSOR\HHVDQGZRUNHUV
SHUVRQQHORIWKHHQWHUSULVHVKDOOZRUNMRLQWO\WRZDUGVWKHJRDORIWKHHQWHUSULVHDQGWKHFRPPRQ
JRRGRIWKHQDWLRQ
1HLWKHUZRXOGDQ\ORQJHUEHWKHYLFWLPRIWKHRWKHUQRWWKHZRUNHUIDFLQJWKHDUELWUDULQHVV
RIWKHHPSOR\HUQRUWKHHPSOR\HUIDFLQJWKHEODFNPDLORIVWULNHVIRUSROLWLFDOSXUSRVHV$UWLFOH
RIWKH5HLFKODERUODZVWDWHGWKDW(YHU\PHPEHURIDQ$U\DQHQWHUSULVHFRPPXQLW\VKDOO
DVVXPHWKHUHVSRQVLELOLWLHVUHTXLUHGE\KLVSRVLWLRQLQWKHVDLGFRPPRQHQWHUSULVH,QRWKHU
ZRUGVDWWKHKHDGRIWKHFRPSDQ\RUWKHHQWHUSULVHZRXOGEHDOLYLQJEUHDWKLQJH[HFXWLYHLQ
FKDUJHQRWDPRQH\EDJVZLWKXQFRQGLWLRQDOSRZHU7KHLQWHUHVWRIWKHFRPPXQLW\PD\UHTXLUH
WKDWDQLQFDSDEOHRUXQZRUWK\HPSOR\HUEHUHOLHYHGRIKLVGXWLHV

 
7KHHPSOR\HUZRXOGQRORQJHUEHLQDFFHVVLEOHDQGDOOSRZHUIXODXWKRULWDWLYHO\
GHWHUPLQLQJWKHFRQGLWLRQVRIKLULQJDQGILULQJKLVVWDII+HWRRZRXOGEHVXEMHFWWRWKH
ZRUNVKRSUHJXODWLRQVZKLFKKHZRXOGKDYHWRUHVSHFWH[DFWO\DVWKHOHDVWRIKLVHPSOR\HHV7KH
ODZFRQIHUUHGKRQRUDQGUHVSRQVLELOLW\RQWKHHPSOR\HURQO\LQVRIDUDVKHPHULWHGLW
(YHU\EXVLQHVVHQWHUSULVHRIRUPRUHSHUVRQVZDVWRKDYHLWV&RXQFLORI7UXVW7KH
WZRWRWHQPHPEHUVRIWKLVFRXQFLOZRXOGEHFKRVHQIURPDPRQJWKHVWDIIE\WKHKHDGRIWKH
HQWHUSULVH7KHRUGLQDQFHRIDSSOLFDWLRQRI0DUFKRIWKHDERYHODZIXUWKHUVWDWHG7KH
VWDIIVKDOOEHFDOOHGXSRQWRGHFLGHIRURUDJDLQVWWKHHVWDEOLVKHGOLVWLQDVHFUHWYRWHDQGDOO
VDODULHGHPSOR\HHVLQFOXGLQJDSSUHQWLFHVRI\HDUVRIDJHRUROGHUZLOOWDNHSDUWLQWKHYRWH
9RWLQJVKDOOEHGRQHE\SXWWLQJDQXPEHUEHIRUHWKHQDPHVRIWKHFDQGLGDWHVLQRUGHURI
SUHIHUHQFHRUE\VWULNLQJRXWFHUWDLQQDPHV
,QFRQWUDVWWRWKHEXVLQHVVFRXQFLOVRIWKHSUHFHGLQJUpJLPHWKH&RXQFLORI7UXVWZDVQR
ORQJHUDQLQVWUXPHQWRIFODVVEXWRQHRIWHDPZRUNRIWKHFODVVHVFRPSRVHGRIGHOHJDWHVRIWKH
VWDIIDVZHOODVWKHKHDGRIWKHHQWHUSULVH7KHRQHFRXOGQRORQJHUDFWZLWKRXWWKHRWKHU
&RPSHOOHGWRFRRUGLQDWHWKHLULQWHUHVWVWKRXJKIRUPHUO\ULYDOVWKH\ZRXOGQRZFRRSHUDWHWR
HVWDEOLVKE\PXWXDOFRQVHQWWKHUHJXODWLRQVZKLFKZHUHWRGHWHUPLQHZRUNLQJFRQGLWLRQV
%HOJLDQDXWKRU0DUFHO/DORLUHZKRREVHUYHGFRQGLWLRQVLQWKH5HLFKILUVWKDQGZURWH
7KH&RXQFLOKDVWKHGXW\WRGHYHORSPXWXDOWUXVWZLWKLQWKHHQWHUSULVH,WZLOODGYLVHRQDOO
PHDVXUHVVHUYLQJWRLPSURYHWKHFDUU\LQJRXWRIWKHZRUNRIWKHHQWHUSULVHDQGRQVWDQGDUGV
UHODWLQJWRJHQHUDOZRUNFRQGLWLRQVLQSDUWLFXODUWKRVHZKLFKFRQFHUQPHDVXUHVWHQGLQJWR
UHLQIRUFHIHHOLQJVRIVROLGDULW\EHWZHHQWKHPHPEHUVWKHPVHOYHVDQGEHWZHHQWKHPHPEHUVDQG
WKHHQWHUSULVHRUWHQGLQJWRLPSURYHWKHSHUVRQDOVLWXDWLRQRIWKHPHPEHUVRIWKHHQWHUSULVH
FRPPXQLW\7KH&RXQFLODOVRKDVWKHREOLJDWLRQWRLQWHUYHQHWRVHWWOHGLVSXWHV,WPXVWEHKHDUG
EHIRUHWKHLPSRVLWLRQRIILQHVEDVHGRQZRUNVKRSUHJXODWLRQV
%HIRUHDVVXPLQJWKHLUGXWLHVPHPEHUVRIWKH:RUN&RXQFLOKDGWRWDNHDQRDWKEHIRUHDOO
WKHLUFRZRUNHUVWRFDUU\RXWWKHLUGXWLHVRQO\IRUWKHJRRGRIWKHHQWHUSULVHDQGRIDOOFLWL]HQV
VHWWLQJDVLGHDQ\SHUVRQDOLQWHUHVWDQGLQWKHLUEHKDYLRUDQGPDQQHURIOLYLQJWRVHUYHDVPRGHO
UHSUHVHQWDWLYHVRIWKHHQWHUSULVH>$UWLFOHSDUDJUDSKRIWKHODZ@(YHU\WKRI$SULORQ
WKHHYHRIWKHJUHDWQDWLRQDOODERUKROLGD\FRXQFLOGXWLHVFHDVHGDQGWKHFRXQFLOVZHUHUHQHZHG
SUXQLQJRXWFRQVHUYDWLVPRUSHWULIDFWLRQDQGFXWWLQJVKRUWWKHDUURJDQFHRIGLJQLWDULHVZKRPLJKW
KDYHWKRXJKWWKHPVHOYHVEH\RQGFULWLFLVP
,WZDVXSWRWKHHQWHUSULVHLWVHOIWRSD\DVDODU\WRPHPEHUVRIWKH&RXQFLORI7UXVWMXVWDV
LIWKH\ZHUHHPSOR\HGLQWKHZRUNDUHDDQGWRDVVXPHDOOFRVWVUHVXOWLQJIURPWKHUHJXODU
IXOILOOPHQWRIWKHGXWLHVRIWKH&RXQFLO
7KHVHFRQGDJHQF\WKDWZRXOGHQVXUHWKHRUGHUO\GHYHORSPHQWRIWKHQHZ*HUPDQVRFLDO
V\VWHPZDVWKHLQVWLWXWLRQRIWKH:RUNHUV
&RPPLVVLRQHUV7KH\ZRXOGHVVHQWLDOO\EH
FRQFLOLDWRUVDQGDUELWUDWRUV:KHQJHDUVZHUHJULQGLQJWKH\ZHUHWKHRQHVZKRZRXOGKDYHWR
DSSO\WKHJUHDVH7KH\ZRXOGVHHWRLWWKDWWKH&RXQFLOVRIWUXVWZHUHIXQFWLRQLQJKDUPRQLRXVO\
WRHQVXUHWKDWUHJXODWLRQVRIDJLYHQEXVLQHVVHQWHUSULVHZHUHEHLQJFDUULHGRXWWRWKHOHWWHU
7KH\ZHUHGLYLGHGDPRQJODUJHGLVWULFWVFRYHULQJWKHWHUULWRU\RIWKH5HLFK$V
DUELWUDWRUVWKH\ZHUHQRWGHSHQGHQW XSRQHLWKHURZQHUVRUZRUNHUV7KH\KDGWRWDOLQGHSHQGHQFH
LQWKHILHOG7KH\ZHUHDSSRLQWHGE\WKHVWDWHZKLFKUHSUHVHQWHGERWKWKHLQWHUHVWVRIHYHU\RQHLQ
WKHHQWHUSULVHDQGWKHLQWHUHVWVRIVRFLHW\DWODUJH
,QRUGHUWKDWWKHLUGHFLVLRQVVKRXOGQHYHUEHXQIRXQGHGRUDUELWUDU\WKH\KDGWRUHO\RQWKH
DGYLFHRID&RQVXOWLQJ&RXQFLORI([SHUWVZKLFKFRQVLVWHGRIPHPEHUVVHOHFWHGIURP
YDULRXVVHFWLRQVRIWKHHFRQRP\LQDUHSUHVHQWDWLRQRIVRUWVRIWKHLQWHUHVWVRIHDFKWHUULWRULDO
GLVWULFW
7RHQVXUHVWLOOIXUWKHUWKHREMHFWLYLW\RIWKHLUDUELWUDWLRQGHFLVLRQVDWKLUGDJHQF\ZDV
VXSHULPSRVHGRQWKH&RXQFLOVRI7UXVWDQGWKH&RPPLVVLRQHUVWKH7ULEXQDORI6RFLDO+RQRU

 
7KXVIURPRQWKH*HUPDQZRUNHUKDGDV\VWHPRIMXVWLFHDWKLVGLVSRVDO WKDWZDV
FUHDWHGHVSHFLDOO\IRUKLPDQGZRXOGDGMXGLFDWHDOOJUDYHLQIUDFWLRQVRIWKHVRFLDOGXWLHVEDVHGRQ
WKHLGHDRIWKH$U\DQHQWHUSULVHFRPPXQLW\([DPSOHVRIWKHVHYLRODWLRQVRIVRFLDOKRQRUDUH
FDVHVZKHUHWKHHPSOR\HUDEXVLQJKLVSRZHUGLVSOD\HGLOOZLOOWRZDUGVKLVVWDIIRULPSXJQHGWKH
KRQRURIKLVVXERUGLQDWHVFDVHVZKHUHVWDIIPHPEHUVWKUHDWHQHGZRUNKDUPRQ\E\VSLWHIXO
DJLWDWLRQWKHSXEOLFDWLRQE\PHPEHUVRIWKH&RXQFLORIFRQILGHQWLDOLQIRUPDWLRQUHJDUGLQJWKH
HQWHUSULVHZKLFKWKH\EHFDPHFRJQL]DQWRILQWKHFRXUVHRIGLVFKDUJLQJWKHLUGXWLHV7KLUWHHQ
7ULEXQHVRI6RFLDO+RQRUZHUHHVWDEOLVKHGFRUUHVSRQGLQJZLWKWKHWKLUWHHQFRPPLVVLRQV
7KHSUHVLGLQJMXGJHZDVQRWDIDQDWLFKHZDVDFDUHHUMXGJHZKRURVHDERYHGLVSXWHV
0HDQZKLOHWKHHQWHUSULVHLQYROYHGZDVQRWOHIWRXWRIWKHSURFHHGLQJVWKHMXGJHZDVVHFRQGHG
E\WZRDVVLVWDQWMXGJHVRQHUHSUHVHQWLQJWKHPDQDJHPHQWDQRWKHUDPHPEHURIWKH&RXQFLORI
7UXVW
7KLVWULEXQDOWKHVDPHDVDQ\RWKHUFRXUWRIODZKDGWKHPHDQVRIHQIRUFLQJLWVGHFLVLRQV
%XWWKHUHZHUHQXDQFHV'HFLVLRQVFRXOGEHOLPLWHGLQPLOGFDVHVWRDUHPRQVWUDQFH7KH\FRXOG
DOVRKLWWKHJXLOW\SDUW\ZLWKILQHVRIXSWRPDUNV2WKHUYHU\VSHFLDOVDQFWLRQVZHUH
SURYLGHGIRUWKDWZHUHSUHFLVHO\DGDSWHGWRWKH VRFLDOFLUFXPVWDQFHVFKDQJHRIHPSOR\PHQW
GLVPLVVDORIWKHKHDGRIWKHHQWHUSULVHRUKLVDJHQWZKRKDGIDLOHGLQKLVGXW\,QFDVHRID
FRQWHVWHGGHFLVLRQWKHOHJDOGLVSXWHFRXOGDOZD\VEHWDNHQXSWRD6XSUHPH&RXUWVHDWHGLQ
%HUOLQDIRXUWKOHYHORISURWHFWLRQ
)URPWKHQRQWKHZRUNHUNQHZWKDWH[SORLWDWLRQRIKLVSK\VLFDOVWUHQJWKLQEDGIDLWKRU
RIIHQGLQJKLVKRQRUZRXOGQRORQJHUEHDOORZHG+HKDGWRIXOILOOFHUWDLQREOLJDWLRQVWRWKH
FRPPXQLW\EXWWKH\ZHUHREOLJDWLRQVWKDWDSSOLHGWRDOOPHPEHUVRIWKHHQWHUSULVHIURPWKH
FKLHIH[HFXWLYHGRZQWRWKHPHVVHQJHUER\*HUPDQ\
VZRUNHUVDWODVWKDGFOHDUO\HVWDEOLVKHG
VRFLDOULJKWVWKDWZHUHDUELWUDWHGE\D/DERU&RPPLVVLRQDQGHQIRUFHGE\D7ULEXQDORI+RQRU
$OWKRXJKHIIHFWHGLQDQDWPRVSKHUHRIMXVWLFHDQGPRGHUDWLRQLWZDVDUHYROXWLRQ
7KLVZDVRQO\WKHHQGRIDQGDOUHDG\WKHILUVWHIIHFWVFRXOGEHIHOW7KHIDFWRULHVDQG
VKRSVODUJHDQGVPDOOZHUHUHIRUPHGRUWUDQVIRUPHGLQFRQIRUPLW\ZLWKWKHVWULFWHVWVWDQGDUGVRI
FOHDQOLQHVVDQGK\JLHQHWKHLQWHULRUDUHDVVRRIWHQGLODSLGDWHGRSHQHGWROLJKWSOD\LQJILHOGV
FRQVWUXFWHGUHVWDUHDVPDGHDYDLODEOHZKHUHRQHFRXOGFRQYHUVHDWRQH
VHDVHDQGUHOD[GXULQJ
UHVWSHULRGVHPSOR\HHFDIHWHULDVSURSHUGUHVVLQJURRPV
:LWKWLPHWKDWLVWRVD\LQWKUHH\HDUVWKRVHDFKLHYHPHQWVZRXOGWDNHRQGLPHQVLRQV
QHYHUEHIRUHLPDJLQHGPRUHWKDQIDFWRULHVUHILWWHGDQGEHDXWLILHGZRUNSUHPLVHV
PRGHUQL]HGEXLOGLQJVGHVLJQHGH[FOXVLYHO\IRUPHHWLQJVSOD\LQJILHOGV
VDQLWDU\IDFLOLWLHVZLWKUXQQLQJZDWHUFDIHWHULDV(LJKWKXQGUHGGHSDUWPHQWDOLQVSHFWRUV
DQGORFDOLQVSHFWRUVZRXOGIRVWHUDQGFORVHO\DQGFRQWLQXRXVO\VXSHUYLVHWKHVH
UHQRYDWLRQVDQGLQVWDOODWLRQV
7KHODUJHLQGXVWULDOHVWDEOLVKPHQWVPRUHRYHUKDG EHHQJLYHQWKHREOLJDWLRQRISUHSDULQJ
DUHDVQRWRQO\VXLWDEOHIRUVSRUWVDFWLYLWLHVRIDOOPLQGVEXWSURYLGHGZLWKVZLPPLQJSRROVDV
ZHOO*HUPDQ\KDGFRPHDORQJZD\IURPWKHVLQNVIRUZDVKLQJRQH
VIDFHDQGWKHGHDGWLUHG
ZRUNHUVJURZQROGEHIRUHWKHLUWLPHFUDPPHGLQWRVTXDOLGFRXUW\DUGVGXULQJZRUNEUHDNV
,QRUGHUWRHQVXUHWKHQDWXUDOGHYHORSPHQWRIWKHZRUNLQJFODVVSK\VLFDOHGXFDWLRQFRXUVHV
ZHUHLQVWLWXWHGIRUWKH\RXQJHUZRUNHUVVXFKZHUHRUJDQL]HG7HFKQLFDOWUDLQLQJZRXOGEH
HTXDOO\HPSKDVL]HGZLWKWKHFUHDWLRQRIKXQGUHGVRIZRUNVFKRROVWHFKQLFDOFRXUVHVDQG
H[DPLQDWLRQVRISURIHVVLRQDOFRPSHWHQFHDQGFRPSHWLWLYHH[DPLQDWLRQVIRUWKHEHVWZRUNHUVIRU
ZKLFKODUJHSUL]HVZHUHDZDUGHG
7RUHMXYHQDWH\RXQJDQGROGDOLNH+LWOHURUGHUHGWKDWDJLJDQWLFYDFDWLRQRUJDQL]DWLRQIRU
ZRUNHUVEHVHWXS+XQGUHGVRIWKRXVDQGVRIZRUNHUVZRXOGEHDEOHHYHU\VXPPHUWRUHOD[RQ
DQGDWWKHVHD0DJQLILFHQWFUXLVHVKLSVZRXOGEHEXLOW6SHFLDOWUDLQVZRXOGFDUU\YDFDWLRQHUVWR
WKHPRXQWDLQVDQGWRWKHVHDVKRUH7KHORFRPRWLYHVWKDWKDXOHGWKHLQQXPHUDEOHZRUNHUWRXULVWV

 
LQMXVWDIHZ\HDUVRIWUDYHOLQ*HUPDQ\ZRXOGORJDGLVWDQFHHTXLYDOHQWWRILIW\IRXUWLPHV
DURXQGWKHZRUOG
7KHFRVWRIWKHVHSRSXODUH[FXUVLRQVZDVQHDUO\LQVLJQLILFDQWWKDQNVWRJUHDWO\UHGXFHG
UDWHVDXWKRUL]HGE\WKH5HLFKVEDQN
'LGQ
WWKHVHUHIRUPVODFNVRPHWKLQJ":HUHVRPHRIWKHPIODZHGE\HUURUVDQGEOXQGHUV",W
LVSRVVLEOH%XWZKDWGLGDEOXQGHUDPRXQWWRDORQJVLGHWKHLPPHQVHJDLQV"
7KDWWKLVWUDQVIRUPDWLRQRIWKHZRUNLQJFODVVVPDFNHGRIDXWKRULWDULDQLVP"7KDW
VH[DFWO\
ULJKW%XWWKH*HUPDQSHRSOHZHUHVLFNDQGWLUHGRIVRFLDOLVPDQGDQDUFK\7RIHHOFRPPDQGHG
GLGQ
WERWKHUWKHPDELW,QIDFWSHRSOHKDYHDOZD\VOLNHGKDYLQJDVWURQJPDQJXLGHWKHP2QH
WKLQJIRU FHUWDLQLVWKDWWKHWXUQRIPLQGRIWKHZRUNLQJFODVVZKLFKZDVVWLOODOPRVWWZRWKLUGV
QRQ1DWLRQDO6RFLDOLVWLQKDGFRPSOHWHO\FKDQJHG
7KH%HOJLDQDXWKRU0DUFHO/DORLUHZRXOGQRWH:KHQ\RXPDNH\RXUZD\WKURXJKWKH
FLWLHVRI*HUPDQ\DQGJRLQWRWKHZRUNLQJFODVVGLVWULFWVJRWKURXJKWKHIDFWRULHVWKH
FRQVWUXFWLRQ\DUGV\RXDUHDVWRQLVKHGWRILQGVRPDQ\ZRUNHUVRQWKHMREVSRUWLQJWKH+LWOHU
LQVLJQLDWRVHHVRPDQ\IODJVZLWKWKH6ZDVWLNDEODFNRQDEULJKWUHGEDFNJURXQGLQWKHPRVW
SRSXORXVGLVWULFWV7KH/DERU)URQWWKDW+LWOHULPSRVHGRQDOORIWKHZRUNHUVDQGHPSOR\HUV
RIWKH5HLFKZDVIRUWKHPRVWSDUWUHFHLYHGZLWKIDYRU
$QGDOUHDG\WKHVWHHOVSDGHVRIWKHVWXUG\\RXQJODGVRIWKH1DWLRQDO/DERU6HUYLFHFRXOG
EHVHHQJOHDPLQJDORQJWKHKLJKZD\V7KH1DWLRQDO/DERU6HUYLFHKDGEHHQFUHDWHGE\+LWOHURXW
RIWKLQDLUWREULQJWRJHWKHUIRUDIHZPRQWKVLQDEVROXWHHTXDOLW\DQGLQWKHVDPHXQLIRUPERWK
WKHVRQVRIPLOOLRQDLUHVDQGWKHVRQVRIWKHSRRUHVWIDPLOLHV$OOKDGWRSHUIRUPWKHVDPHZRUN
DQGZHUHVXEMHFWWRWKHVDPHGLVFLSOLQHHYHQWKHVDPHSOHDVXUHVDQGWKHVDPHSK\VLFDODQG
PRUDOGHYHORSPHQW2QWKHVDPHFRQVWUXFWLRQVLWHVDQGLQWKHVDPHOLYLQJTXDUWHUVWKH\KDG
EHFRPHFRQVFLRXVRIWKHLUFRPPRQDOLW\KDGFRPHWRXQGHUVWDQGRQHDQRWKHUDQGKDGVZHSW
DZD\WKHLUROGSUHMXGLFHVRIFODVVDQGFDVWH$IWHUWKLVKLWFKLQWKH1DWLRQDO/DERU6HUYLFHWKH\
DOOEHJDQWROLYHDVFRPUDGHVWKHZRUNHUVNQRZLQJWKDWWKHULFKPDQ
VVRQZDVQRWDPRQVWHU
DQGWKH\RXQJODGIURPWKHZHDOWK\IDPLO\NQRZLQJWKDWWKHZRUNHU
VVRQKDGKRQRUMXVWOLNHDQ\
RWKHU\RXQJIHOORZZKRKDGEHHQPRUHJHQHURXVO\IDYRUHGE\ELUWK6RFLDOKDWUHGZDV
GLVDSSHDULQJDQGDVRFLDOO\XQLWHGSHRSOHZDVEHLQJERUQ
+LWOHUFRXOGDOUHDG\JRLQWRIDFWRULHVVRPHWKLQJ QRPDQRIWKHVRFDOOHG5LJKWEHIRUHKLP
ZRXOGKDYHULVNHGGRLQJDQGKROGIRUWKWRWKHPRERIZRUNHUVWHQVRIWKRXVDQGVRIWKHPDWD
WLPHDVLQWKH6LHPHQVZRUNV,QFRQWUDVWWRWKHYRQ3DSHQVDQGRWKHUFRXQWU\JHQWOHPHQKH
PLJKWWHOOWKHP,QP\\RXWK,ZDVDZRUNHUOLNH\RX$QGLQP\KHDUWRIKHDUWV,KDYH
UHPDLQHGZKDW,ZDVWKHQ,QWKHFRXUVHRIKLVWZHOYH\HDUVLQSRZHUQRLQFLGHQWHYHURFFXUUHG
DWDQ\IDFWRU\$GROI+LWOHUHYHUYLVLWHG:KHQ+LWOHUZDVDPRQJWKHSHRSOHKHZDVDWKRPHDQG
KHZDVUHFHLYHGOLNHWKHPHPEHURIWKHIDPLO\ZKRKDGEHHQPRVWVXFFHVVIXO

/pRQ'HJUHOOH

 

You might also like