Chapter 520 - 252 Auction_2
Now the victim’s family members are suing for rights, claiming up to 370 million dollars from Pike Company!
The court’s verdict has also been issued, categorizing this accident as due to inadequate safety measures, requiring a minimum compensation of 7.6 million US dollars for each deceased employee’s household, plus a 3 million dollar fine and deposit to continue operations.
With twelve households, that’s 91.2 million dollars, plus the loss of the plant and customer resource turnover, the company almost declared direct bankruptcy!
How much of this lawyers’ firms’ profited and took is not the subject here, but definitely, not so much reached those families, maybe just a couple million dollars, but Pike Resource Recycling Company indeed bled, having sold several recycling plants.
They now owe the bank 20 million in debt. They could have their assets seized at any time.
Pike Resource Recycling Company’s annual turnover just barely reaches over 100 million dollars; its actual profits are only tens of millions, shareholder dividend profits are only a few hundred thousand to a million each year, and now many shareholders are clamoring to bail out. And Reko, this diligent old employee, was promoted at this juncture, getting trapped as they were pushed into an awkward position.
George, who had spent half his lifetime in the recycling industry, felt like he had been thrown back to primitive times, about to be cruelly harvested by the harsh market.
Due to the suddenness of the incident, they could only hastily seek public relations help to suppress the situation, prevent media from reporting the incident, stopping public opinion from fermenting and the situation from going out of control, costing them a hefty sum in PR fees.
Then they found a shareholder from an entertainment company, bought the future of a barely known eighteenth-tier female star after communicating, released her scandals and big news, effectively diverting the storm by lowering its impact, hastily covering their past.
No wonder there were hardly any relevant news reports. Opening YouTube and media mostly showed news about a female star cheating post-marriage, or dating a certain athlete, using over a dozen condoms in a single night, or causing a groin strain etc., various exaggerated news push notifications.