2007-02-03

Q&A With Lakeport CEO Teresa Cascioli

The Hamilton Spectator
(Feb 3, 2007)
Spectator: Now that it's a day later, the union is wondering what's going to happen to their jobs. Is there anything further you can say about that today?

Cascioli: "It is exactly as you described -- a day later. I'm not certain the other side has considered anything else on this matter at this time because it is very, very young into the conversation. I don't think Labatt has gotten that far.

Spectator: The union is also wondering if Labatt will be calling them. Are you aware if they will be calling?

Cascioli: "They are Lakeport income trust employees. Labatt won't be calling them. The transaction still has to be reviewed by the competition review process, and that has not started. They have the ultimate right to review the transaction We respectfully have to give them that process, both Labatt and Lakeport. Clearly ... while I respect the fact people are wondering, the reality is there isn't that answer just yet."

Spectator: Did you get a rough ride from the workers (at meetings with them)?

Cascioli: "I obviously have a mixed group of employees, from the perspective of their level of maturity and their level of understanding of transactions. So I have a lot of employees who have an understanding of the process and understand the fact the transaction is still at early stages. Some can deal with uncertainty better than others, as with most organizations. I'm trying to give my employees as much information as quickly and as accurately as I can. I've been speaking to all my employees, and I'm still here at the plant."

Spectator: Did some workers go after you about your integrity?

Cascioli: "I will tell you one thing. I've learned a lot in this business, and you can never please everybody. I've turned the business around, I've secured financing for $30 million in this plant. I've learned that it doesn't matter what I do, I will never get the thanks for anything. I certainly do hear all the things they don't like when they don't like it. I'm not saying all of them. I have a wonderful union. We've negotiated two successful agreements. So, this is a time for anxiety and, quite frankly, it is what it is. That's why I'm the chair and the CEO. I'm tolerating the anxiety because I understand it. For me, I have a job to do and I don't just represent the employees of this company, I represent the unit holders, the board, the broader constituents as a public company CEO. This isn't just about Teresa, this is about what's doing right for everyone. That's my job.

"I think that the important thing is to have the global resources of a company that can continue to market those brands as far as they can take it, whether that's Ontario or broader spokes. I will be proud if that happens and that I had something to do with it. I'm always certain the right thing will end up happening."

Used with permission from The Hamilton Spectator, www.thespec.com Copyright The Hamilton Spectator. All rights reserved.