Steel Industry on the Verge of Collapse
You didn't know that I knew anything about steel, did you? Ah, but I lived in Baltimore for about 15 yrs. My Dad managed a small specialty steel company there just up the road from Bethlehem Steel on Sparrows Point. Both my brother and I had summer jobs there.
Bethlehem Steel, Sparrows Point was an enormous plant on the Chesapeake Bay encompassing about 4 miles of land. Three shift kept the mills & furnances running constantly. The only time the furnace stopped was for a few days at Christmas. Dundalk (we referred to it as the "city of many smells") was a company town, originally owned by the Steel co. It was forever covered in a light dusting of red power- you couldn't hang your laundry outside. No insects dwelled there.
There were 3 working shifts. You'd better know the times they changed, as you didn't want to be on the highway (there was a new mall there) then. These were good-paying jobs. The superisors out there had their own country club which they were given. College grads were trained & employed for lifelong jobs (they thought). Ships were built there & they had their own railroad tracks. Now- nothing. Nothing or not much. What were we thinking?
No new cars, no infrastructure, no housing, competition overseas equal no business for steel mills. They want a bailout, too.
Bethlehem Steel, Sparrows Point was an enormous plant on the Chesapeake Bay encompassing about 4 miles of land. Three shift kept the mills & furnances running constantly. The only time the furnace stopped was for a few days at Christmas. Dundalk (we referred to it as the "city of many smells") was a company town, originally owned by the Steel co. It was forever covered in a light dusting of red power- you couldn't hang your laundry outside. No insects dwelled there.
There were 3 working shifts. You'd better know the times they changed, as you didn't want to be on the highway (there was a new mall there) then. These were good-paying jobs. The superisors out there had their own country club which they were given. College grads were trained & employed for lifelong jobs (they thought). Ships were built there & they had their own railroad tracks. Now- nothing. Nothing or not much. What were we thinking?
No new cars, no infrastructure, no housing, competition overseas equal no business for steel mills. They want a bailout, too.
3 comments:
Actually, the steel industry didn't ask for a bailout or for any stimulus money. The steel industry voiced support for a movement to include a "Buy American" clause in Obama's proposed Infrastructure stimulus package that would rebuild bridges, highways and rapid transit. This move would benefit all American industry and their employees, whom the stimulus package is intended to benefit.
-> " One element of the plan could be "buy American" language benefiting U.S. industry. "We are reviewing the buy American proposal and we are committed to a plan that will save or create 3 million jobs including jobs in manufacturing," Obama transition spokeswoman Jen Psaki said by e-mail.
-> The New York Times on Friday quoted Daniel DiMicco, chairman and chief executive of steel maker Nucor Corp, as saying the steel industry was asking Obama to "deal with the worst economic slowdown in our lifetime through a recovery program that has in every provision a 'buy America' clause."
Obama's infrastructure plan, once he takes office, was designed to stimulate American economy. It was a statement of the obvious that the plan should utilize American industry as a means to achieve his objective.
As seen in the article quotes above, the steel industry is not the only party advocating buy American. They were just the ones to get the quote. Because the steel industry is a bellwether industry indicator it was prominent in voicing its opinion and support, but not alone.
The steel industry did not ask for a financial bailout. Obama is proposing his own stimulus package centered around the upgrade of our nation's infrastructure. American industry, a critical artery of the US economy, is urging Obama to include a buy American clause in his proposal. The steel industry has voiced its support for that plan and the buy American clause. The one trillion dollar figure is in no way related to any request by or on behalf of the steel industry. The number was a statement of estimation by at least 5 US governors.
That trillion dollar, suggested by the governors, was for the ENTIRE infrastructure package, most of which does not include steel directly or indirectly. There are portions of this package, bridges, rail systems, culverts, sewage, that could benefit the steel industry. But, it most certainly is not about the industry or for the steel industry.
Thanks for the thoughtful comment.
the great blog
thanks for sharing ,,
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victor
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