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Vermont Asbestos Mine Worker-Mgt. Experiment Troubles #257129

CBS Evening News for Wednesday, Mar 29, 1978
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(Studio) Asbestos miners' purchase of employer's mine 3 years ago in Lowell, VT, and success of venture noted. Desire of some miners now to sell mine reported.
REPORTER: Walter Cronkite

(Hyde Park, VT) GAF Corp.'s decision to close Lowell, VT, mine in 1975 and miners' purchase of it detailed, as well as degree of success of venture for those participating in purchase. Film taken in May, 1977, shown. [MAN - says it turned out good.] Details given with regard to miners' structure for operation of business, present dissension within group and reasons some wish to sell to local busman. [Miner Marcel FAUCHER - says miners can't get through to board of dirs.; that miners' opinions are never considered.] [Former board chairperson John LUPIEN - says it's impossible to please all, but feels board has acted as it was supposed to do.] Agreement by over half of stkholders. to sell shares to local contractor reported [Prospective buyer Howard MANOSH - has watched organization for about 1 yr. Thinks it's disintegrating and that he can give it direction and leadership it needs.] Board meeting with shareholders noted. [Vermont Asbestos Group, Incorporated president David WINER - cites board advice that offer be rejected.] Apparent end of worker-management experiment stated. [Board mbr. Mickey EDSON - thinks situation has gone from complete unity to just opposite.]
REPORTER: Jim Kilpatrick

(Studio) Mine dirs.' lawsuit with regard to sale of company noted.
REPORTER: Walter Cronkite

Reporter(s):
Cronkite, Walter;
Kilpatrick, Jim
Duration:
00:03:20

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