Here's another massive new mill fallen on hard times after much ballyhoo by state and local proponents, along with big tax breaks:
http://yellowhammernews.com/st...-massive-steel-mill/
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Originally Posted by Contendah:
Here's another massive new mill fallen on hard times after much ballyhoo by state and local proponents, along with big tax breaks:
http://yellowhammernews.com/st...-massive-steel-mill/
And the "Dodo" bird...is still extinct..Go Figure?
Feral Felines? I suspect!
The Mobile steel mill is a complete fiasco. Who would think that a $5 billion investment would net $1.5 billion hardly 2 years later. Makes Thyssen like a pack of dumbkoffs.
That was about the premier construction project in the world when it was built. And it would be a shame to see it close.
But supply and demand in many industries, including steel, is walking a very fine line. Much of the specialized steel coming out of Mobile was slated for the auto industry, but so much of cars are being built of plastics and aluminum. And steel is getting less and less of automobiles.
Alabama voted for the wrong party. Political debts are being paid. Mo, Sessions and Shelby think they are being cute on the floor of Congress sniping at the president. Well sports fans it ain’t working. It seems the only way to get rid of political suicidal ignorance is by siege. Just keep listening to fox news and racists on the forum and you will see strings pulled to move industry to areas whose politics have other than idiots running their show. Your idiot statesmen are hustling now to pass a law that NASA cannot be moved. They have $ # it in our nest.It’s probably too late.
Quaildog, with one of the most corrupt Administrations in U.S. history sitting on Penn. Ave, you make it sound as if there's not enough blame to go around. I would submit that ALL of D.C. is broken and needs a house-cleaning. There are no jobs to speak of, even in the states that supported the President. Even Solyndra is out of business, but you want to talk about just GOP "paybacks"? There is NO leadership in D.C. (unless you consider printing money and handing it out "Leadership"). Watch for the insurance industry bailout/bribe.
The steel mill has just been sold, by the way
I see nothing corrupt about the Obama administration. I know the GOP keep howling about AHA but there is nothing corrupt about it. You wait and see. You wont be able to get the smile off people's faces that join it with a 9" side grinder.
I wonder if old Squirrely Dawg's posts involve drugs, or just psychosis!
From the posted yeller whammer link:
According to The Wall Street Journal, ThyssenKrupp’s venture in Alabama, which was bringing raw steel from Brazil to Alabama for finishing, was crippled by the the combined forces of a strengthening of Brazilian currency and weakening global steel demand.
Not everything that happens is political but is actually a matter of economics. Sometimes the "Invisible Hand" pats you on the back; sometimes it shows you a very visible middle digit. When the plant was built the economics were different. I suspect that the Federal Reserve's actions might be more at fault than the local yokels if one really wants to pin the failure on some governmental actions, even though the Fed is supposed to be an independent agency. The nonstop printing of money makes foreign commodities more expensive and Brazilian steel is a commodity.
The Germans didn't foresee the interference in the market place by the Fed. We are riding a bubble economy fueled by the Fed. Rather like riding a hungry tiger, its the dismount that's the problem.. Perhaps, a slow decline in support -- say a billion less a month might allow less painful adjustments in the market place. Otherwise, its all over but the Yellen.