Tapsearch Com EditorSteel Industry bankruptcies since 1997 (LINK)
January 6th 2008 22:57
Bizarre Politics Reports:
Greenspan era - for whom the steel bell tolls
At least 40 American steel makers have gone bankrupt since 1997. More than 80,000 workers lost their jobs in the process. This is after about 700,000 lost their jobs in steel related industries. J&L and Republic Steel were already history in 1997. U.S. Steel had already closed 16 plants affecting more than 13,000 workers. In our state, we had more than 50,000 steelworkers in the region. Today, when the steel plant that replaced LTV Steel, has openings for about a 100 workers, it makes front page of the newspaper. The total number of workers is about 400. In the past, we had many mid size manufacturers with 5,000 employees.
The steel makers below went bankrupt and/or closed down while Alan Greenspan, President Clinton and President proclaimed prosperity. It should also be noted that the Federal Pension Insurance Fund is now paying thousands of pensions with the fund running out of money. Taxpayers are paying the toll now with most not having any hope for a pension in their future.
The steel bell tolls for the following companies and at least 80,000 workers --- ( See our other -for whom the bell tolls sites related to all job losses and company close downs in 1998 and the hundreds of computer manufacturers close downs in two other posts. )
Al Tech Specialities
Acme Metals
Laclede
Geneva
Worldclass Processing
Qualitech Steel SBQ
Gulf States
J&L Structural
Vision Metals
Timken Steel
Wheeling-Pittsburgh
Northwestern Steel and Wire
Erie Forge and Steel
LTV (18,000 lost their jobs - many others lost jobs in several downsizings.
CSC
Heartland
GS Industries
American Iron
Trico
Republic Technologies
Republic Engineered Products
Great Lakes
Freedom Forge
Precision Specialities
Excaliber Holdings
Edgewater
Riverview
GalvPro
Bethlehem Steel
Metals USA
Sheffield
Action
Huntco
National
Calcumet
Birmingham
Cold Metal Products
Bayou
Kentucky Electric
EvTac Mining
Weirton
WCI
AK Steel steered clear of bankruptcy court but locked our their workers more than once and hired replacement workers protected by private police hired by AK Steel. Some of the companies above filed for bankruptcy more than once.
Alan Greenspan does not include any of this in his book The Age of Turbulence and he has been an econommic consultant to U.S. Presidents since 1974.
The steel makers below went bankrupt and/or closed down while Alan Greenspan, President Clinton and President proclaimed prosperity. It should also be noted that the Federal Pension Insurance Fund is now paying thousands of pensions with the fund running out of money. Taxpayers are paying the toll now with most not having any hope for a pension in their future.
The steel bell tolls for the following companies and at least 80,000 workers --- ( See our other -for whom the bell tolls sites related to all job losses and company close downs in 1998 and the hundreds of computer manufacturers close downs in two other posts. )
Al Tech Specialities
Acme Metals
Laclede
Geneva
Worldclass Processing
Qualitech Steel SBQ
Gulf States
J&L Structural
Vision Metals
Timken Steel
Wheeling-Pittsburgh
Northwestern Steel and Wire
Erie Forge and Steel
LTV (18,000 lost their jobs - many others lost jobs in several downsizings.
CSC
Heartland
GS Industries
American Iron
Trico
Republic Technologies
Republic Engineered Products
Great Lakes
Freedom Forge
Precision Specialities
Excaliber Holdings
Edgewater
Riverview
GalvPro
Bethlehem Steel
Metals USA
Sheffield
Action
Huntco
National
Calcumet
Birmingham
Cold Metal Products
Bayou
Kentucky Electric
EvTac Mining
Weirton
WCI
AK Steel steered clear of bankruptcy court but locked our their workers more than once and hired replacement workers protected by private police hired by AK Steel. Some of the companies above filed for bankruptcy more than once.
Alan Greenspan does not include any of this in his book The Age of Turbulence and he has been an econommic consultant to U.S. Presidents since 1974.
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