Eugene David ...The One-Minute Pundit |
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Tuesday, May 13, 2008
REPUBLICANISM AT WORK, in the steel biz:
European, Brazilian and Russian companies have been gradually buying the USA's steel companies. In 2005, for instance, Netherlands-based ArcelorMittal bought ISG and is now the largest steel company in the world. Russian steelmaker Evraz bought Oregon Steel Mills in 2006. More than half the nation's steel mills are owned by foreign companies, Parr says, up from 5% a decade ago. This worldwide consolidation has put the steel industry into fewer hands, and now producers, not customers, are calling the shots when it comes to the price of steel, Parr says. "It is a sellers' market right now," Richard says. Ah'm PRAAAAAYOUD t'BEEEEE uh STEELCAYYYYYYYYYN, AMERICAYYYYYYYYYYN!!!!!
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