To: mvpel
The reason the steel company is bankrupt is because their retiree benefits package added so much to the cost of each ton of steel that they weren't able to compete in a global marketplace, even with government protectionism.
Other factors include:
Managerial incompetence.
Unions protecting the dead weight.
And failure to upgrade equipment so that the process of business was cost-effective.
Plainly speaking, the business was run into the ground.
18 posted on
02/09/2003 4:57:43 PM PST by
Thoro
To: Thoro
...
they weren't able to compete in a global marketplace, even with government protectionism. The Asian Steel Mills have been selling cheaper steel in USA for Yrs....some of the BEST steel sold in the USA, is Made in non-union steel mills...read in the WSJ a few yrs. back
19 posted on
02/09/2003 5:22:04 PM PST by
skinkinthegrass
(Just be because your paranoid,doesn't mean they aren't out to get you. :)
To: Thoro
...
they weren't able to compete in a global marketplace, even with government protectionism. The Asian Steel Mills have been selling cheaper steel in USA for Yrs....some of the BEST steel sold in the USA, is Made in non-union USA steel mills...read in the WSJ a few yrs. back
20 posted on
02/09/2003 5:22:49 PM PST by
skinkinthegrass
(Just be because your paranoid,doesn't mean they aren't out to get you. :)
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