British Steel

Aka Tata, should the government step in, I'd nationalise it.

 

There's little money to be made though - it's hemorrhaging money.

Same stuff, same work in India and China, except they are paid very little.

Someone commented that the steel works in Wales, there's 2,000 workers on circa £35k a year or something near that.

That's alot of money, their Asian counterpart will be paid half that.

Sad really.

 

It is sad, but

I think the £35k figure is way out.

 

Lets be honest it's not British Steel anymore it's owned by the Chinese or Indians who couldn't give a * about us when there's cheaper labour elsewhere.

 

Indians.

 

Good article here
http://www.theguardian.com/commenti...l-out-a-national-summons-to-get-serious#img-1

 

It is Spring, I'm talking pish - it's £25k.

I re-read the article but the comments section is where I got it (probably * I suppose). It was from an employee, they mentioned that there are 2,000 jobs salaried at £25k a year.

Which on the one hand is cheap for a very skilled job but on the other its a massive dent in the wage bill.

 

Where was the governments help for motherwell.

I don't want my taxes paying billions for a pile of * company that is losing 1 million a day.....even more so after our government sends nearly all its steel orders to china.

 

Not as easy as that, the Chinese are dumping steel at under production cost so they basically have a monopoly, the EU needs to step up and start putting in place heavier duties on steel imports from outwith the EU area, but theres as much chance of that as there is Camoron coming home from * Lanzarote

http://www.telegraph.co.uk/finance/...es-UK-industry-facing-fight-for-survival.html

 

Welcome to Capitalism.

Flood the market with a product under production costs, because you can.

See your competitors fold, then crank up the price when they've collapsed and you're in a position of strength.

 

Thing is though - China have probably lobbied hard for the E.U. to go easy on them.

They can't close their plants for fear of revolution - seriously. Millions upon millions of people rely on steel jobs in China, plant after plant closing though - which is causing unrest. They have to continue pumping it out and subsidising it.

They rely on everyone buying it and not lowering their imports of it. If not, part of China's economy could collapse and ultimately so would the global economy, ergo we enter another depression - this time caused in Asia not America.

 

But when no * can buy it because you have collapsed their finacial system what happens then

 

No idea what you're alluding to.

Try again.

 

The whole capitalist system as a whole, the Chinese due to trade deficits own large chunks of western debt and at some point it is going to be called in, then the whole thing comes crashing down, unless they just keep printing funny money out of * all

 

This is having a massive effect on the engineering sector, companies that rely on good quality steel with quick delivery are really beginning to struggle, the job losses could be huge if it carries on the way its going.

 

The US runs on a fiat currency. (Breton Woods 1944 - Nixon 1971)

They print money.

Funnily enough, it started in China.

The debt is never going to be called in by China anytime soon.

China has the US by the balls.

 

Its only a matter of time.Seen it all before.

The govt will do nothing except promise to support the local communities, and that help will consist of basic tokenism.

 

I wouldn't. I would let the workers own it.

 

I can understand that angle where they are manufacturing something original or in short supply, but i dont think in this case it would work. I remember a couple of coal mines trying this after the miners strike, but im pretty sure they ultimately failed as coal was imported cheaper than they could produce it.