Leo Gerald: Bad Trade

2015-03-29-1427650532-9386668-BadTradeimage.jpgJust seven days into 2015, U.S. Steel said it would lay off 636 workers at its Lorain, Ohio, tubular plant. Before January’s end, the company announced it would furlough 2,000 workers at three locations in Alabama and Texas. In February, U.S. Steel disclosed plans to close its Gary, Ind., coke plant, displacing 300 workers. Early in March, U.S. Steel revealed the loss of another 83 jobs at its Gary Works, for a total of 780 there this year, as well as 412 at one of its iron-ore operations in Minnesota. Later in March, the company said it would indefinitely shut down its Granite City, Ill., mill and lay off 2,080 workers.

It’s relentless. And that’s just U.S. Steel. Other U.S. producers furloughed workers too.

Steel executives told lawmakers last week that the job cuts are a direct result of foreign companies dumping steel in the U.S. market. “American steel companies are being irreparably harmed by illegal trade practices,” U.S. Steel CEO Mario Longhi said.

China produced as much steel last year as the rest of the world combined. It continued doing so despite dwindling demand within China as both its real estate development and economy cooled.

More…

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When you lie down with dogs, you get fleas. If this puppet master would spend his time building for the future instead of making this a socialist country, he would not have put his unions in this position. Then again, out of work union members make a powerful force for civil unrest.

David DeGerolamo

      
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3 Responses to Leo Gerald: Bad Trade

  1. Pingback: More Endarkenment*, With A Special Carbon Corruption Sauce | Western Rifle Shooters Association

  2. J Marshalek says:

    My dad worked for Bethlehem Steel up until the plant closed. The leadership of U.S. steel makers failed to upgrade their plants to remain competitive with Japanese companies in the 70’s. Today and especially in this last year the dollar has increased in value when compared to other fiat world currencies. Thus making U.S. steel less competitive. Unions are failing because the elite fascists have worked to destroy U.S. national sovereignty. The red neck in me sides with the working man just like those who marched against the coal mining industrialist of West Virginia. Remember that was the first time the U.S. military dropped bombs from airplanes on U.S. citizens.

  3. citizendelta says:

    A steel industry collapsing on itself as a result of union demands, Washington regulations, and general inability to compete? Sounds an awful lot like a novel from the 50s… Ayn Rand called and wants her plot back.

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