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Gold/Mining/Energy : STE-TSE STELCO BALANCE SHEET IMPROVING
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To: Scott Mc who wrote (17)11/1/1997 6:24:00 PM
From: Mike Hilliard   of 46
 
The $50,000,000. that I am referring to is the amount that the company
might be forced to pay out if the Union wins it's case. This dollar
figure is what we feel the company could possibly owe retroactively
dating back to the onset of the I.S.P. program in 1990. In other words 50M divided by 7 years of I.S.P. = 7.1M per year divided by 5000
employees = approximately $8,000.
The way we figure this is that there have been 7 years of I.S.P. and
at 4 quarters per year that amounts to 28 quarters at $500. per quarter = $14,000. minus the few payouts that we have had and the few
times the trigger point has been missed, we arrive at a very reasonable figure of about $8,000 to $10,000 per employee.

Thanks for your response Scott
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