Lonmin's corporate calculus in South Africa
Broadcast on KPFA's Morning Mix/Workweek Radio, 08.27.2012:
The share value of Lonmin Mining Corporation's stock fell roughly $4.5 billion - with a b - dollars in share value during the week following the South African police massacre of miners striking for a $36 million annual wage increase at its Marikana platinum mine. The strike is ongoing, and the wage increase would merely lift the miners and their families from desperate poverty to being poor. KPFA "did the numbers" and spoke to Benjamin Fogel, a politics graduate student at South Africa's Rhodes University, about Lonmin's corporate calculus.