I prepared a short video to illustrate why it is important to seek out facts when you hear something negative.
Here is a summary of the transcript:
This is Sam from investkamloops.com.
Yesterday my truck was in the shop for warantee work. The courtesy driver picked me up when it was done, and then another passenger was picked up. The new passenger and the driver knew each other well(I guess he had a lot of problems with his new car and had to keep bringing it in) and the conversation turned to the economy.
The conversation was negative on the job market(although they were hopeful that the Ajax mine would go through) and they shared thier opinions that the Domtar pulp mill, a major employer(about 1000 people including contractors), would shut down soon in the next couple years. That was news to me!
When I got home I saw the paper was delivered. The front page article was about a new and efficient upgrade to the pulp mill, a new conveyor system that increased efficiency 16 times! The article further states that this is a 20 year investment to be competitive in a global economy, and only part of $120 Million invested in the mill since 2011. You can read the full article here.
There is no facts to support the mill is closing soon, it is just an opinion.
Until next time,