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British Steel on the verge of collapse
- Thread starter steeplejack
- Start date
steeplejack
trapped lbw for a duck
British Steel's takeover by Turkish army fund in danger of collapse | Steel industry | The Guardian
Turkish deal looks as though it’s sinking. As predicted recent Chinese and Liberty Steel noises look likely to be jockeying for position/ picking off profitable bits of the carcass.
Turkish deal looks as though it’s sinking. As predicted recent Chinese and Liberty Steel noises look likely to be jockeying for position/ picking off profitable bits of the carcass.
Smokeandsteam
Working Class First
Given the claims initially made by the Turkish pensions fund about investment the fact that they are seeking to force down costs is disturbing. They’d also be smarter to demand lower energy tariffs from government rather than the supply chain
Abysmal comment from Labour in the story you link to by the way. ‘A level playing field’ is meaningless and empty. Where is the commitment to public ownership and investment?
steeplejack
trapped lbw for a duck
The statement from the Official Receiver was a little more emollient / neutral and others have the Turks down as still "very interested but...".
Agree on Labour's position, largely drivel and Corbyn's call for re-nationalisation when this crisis hit the headlines, seems an empty rhetorical flourish. Leaving the Brexit Party locally as the only ones seemingly invested with a plan on how the resolve the crisis in the long term (of course, that's equally empty and they're never going to be in a position to enact it).
Everyone's too obsessed with Brexit to care.
Agree on Labour's position, largely drivel and Corbyn's call for re-nationalisation when this crisis hit the headlines, seems an empty rhetorical flourish. Leaving the Brexit Party locally as the only ones seemingly invested with a plan on how the resolve the crisis in the long term (of course, that's equally empty and they're never going to be in a position to enact it).
Everyone's too obsessed with Brexit to care.
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steeplejack
trapped lbw for a duck
So it looks like the Chinese are the winners.
The Turks have fallen to a poor third in the pecking order.
The Turks have fallen to a poor third in the pecking order.
Smokeandsteam
Working Class First
Mainly for steeplejack:
Port Talbot steelworks owner confirms plan to cut up to 1,000 UK jobs
I'm not sure if the line by Community is right here. As I read it this is about 'streamlining' to get the merger talks with Thyssenkrupp back on and to rightsize to get round the EU monopoly issues.
Awful news for the 1,000 affected just before Christmas.
I continue to wait for the announcement that an incoming Labour Government would look to bring what's left of the industry back into public ownership.
Port Talbot steelworks owner confirms plan to cut up to 1,000 UK jobs
I'm not sure if the line by Community is right here. As I read it this is about 'streamlining' to get the merger talks with Thyssenkrupp back on and to rightsize to get round the EU monopoly issues.
Awful news for the 1,000 affected just before Christmas.
I continue to wait for the announcement that an incoming Labour Government would look to bring what's left of the industry back into public ownership.
Smokeandsteam
Working Class First
Got a point you want to make Ranbay?
nogojones
spelling is overrated
Undecided about the reasoning, but from my experience Community and their predecessors the ISTC were seldom correct about anything. Shamelessly incompetent and generally happy to bend over backwards to management at any opportunity.
Smokeandsteam
Working Class First
Yup. Failed to make the case for nationalisation. Done nothing to mobilise the wider community. More focussed on negotiating redundancy payouts and keeping management happy.
Always has been that way too.
nogojones
spelling is overrated
Well since '80 anyhow. My experience of them was from 88-03 and it was hard to believe that they could get worse. But they stepped up to that mark.
steeplejack
trapped lbw for a duck
Devastating- Port Talbot even more of a steel monoculture than Scunny.
I have the horrid feeling that nationalising the remnants of our steel industry is about 1,475th on Labour's list of top twenty priorities. Hence Labour candidates in ex steel towns (Workington) and current steel towns (Scunthorpe, Port Talbot) really struggling in what should be one horse races. Not like the policy response needs to be too nuanced either.
Had Farage not deliberately fucked the Brexit Party as a serious force in the election a few weeks back I'd expect them to be kingmakers at the very least in Scunthorpe next week. As it stands the thousand or so votes they may gather from the diehards amongst the membership may keep Nic Dakin in a job. Who wins in Scunny is the toss of a coin I think between Labour and Tory.
You've been 100% right on this to date and I've learned a lot from your views on this thread so many thanks for it.
Ranbay
The same rules apply
Yeah, how come you don't see white dog shit anymore?
Smokeandsteam
Working Class First
capitalism. Changed the production and content of dog food. What’s that’s got to do with your previous post?
Ranbay
The same rules apply
nothing.
Smokeandsteam
Working Class First
Smokeandsteam
Working Class First
Where did you work Nogo? My dad was at Bilston Steel and then The Patent Shaft. He was laid off when it was shut in 1982.
nogojones
spelling is overrated
ASW in Cardiff - Rod and bar mill. Most of my time there as a trimmer
Ranbay
The same rules apply
You're not my real dad and you can't tell me what to do.
Smokeandsteam
Working Class First
were you part of the pensions campaign there or was that after you’d gone? Another ISTC success
nogojones
spelling is overrated
Yeah, I went when it went through the hoop with our pensions. The ISTC were shit at keeping members informed about any actions and tried to keep it to a trusted few. Even when I was shift rep for our end, they wouldn't tell me when meetings were happening.
eta - Funnily enough I got my pensions statement a couple of days ago. 13+ years there paying top whack in pension contributions (my first couple of years there were with a subby) and I'll get a grand pension of £200 per year come retirement.
I think we should be able to get more from a gvt scheme, but I'm not holding my breath
eta - Funnily enough I got my pensions statement a couple of days ago. 13+ years there paying top whack in pension contributions (my first couple of years there were with a subby) and I'll get a grand pension of £200 per year come retirement.
I think we should be able to get more from a gvt scheme, but I'm not holding my breath
It’s utterly soul-destroying, all those years of paying in. My mate is just waiting for his next birthday (62) next year, he is desperate to retire but the funds available from working at British Steel from 76-89 and various offshoots since it was decimated are pitiful. He spends hours ranting about ISTC and Community.
All the best brother.
Smokeandsteam
Working Class First
You'd think that Labour would have something to say about this and that ISTC/community would be lobbying them hard on it. I'm not saying they aren't but if they are its not being publicised.
Nogo, my dad was a steward as well. He was also left out of the loop along with others as he wasn't in with the 'inner circle' of stewards there.
Nogo, my dad was a steward as well. He was also left out of the loop along with others as he wasn't in with the 'inner circle' of stewards there.
nogojones
spelling is overrated
All the graff round the mill usd to be ISTC - I'm scared to complain
Smokeandsteam
Working Class First
As predicted, the new owners of British Steel have begun to set their stall out by demanding 500 job losses:
www.theguardian.com
Community and the other unions are in a corner here as the alternative to agreeing the plan would likely be the sell off and cannibalisation of the remaining organisation. Only a union campaign - backed by the public and Labour - to take BS back into public ownership could have prevented this in reality.
British Steel buyer will cut up to 500 jobs if takeover goes ahead
Unions endorse Jingye’s plans in principle but cannot back reduction in headcount
Community and the other unions are in a corner here as the alternative to agreeing the plan would likely be the sell off and cannibalisation of the remaining organisation. Only a union campaign - backed by the public and Labour - to take BS back into public ownership could have prevented this in reality.
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steeplejack
trapped lbw for a duck
As sadly predicted, the return of the North Lincolnshire Iron Company looms. Scunthorpe already on its arse through austerity and slow decline.
Latest from the local paper- Scunthorpe Evening Telegraph
But as you say its either that or total shutdown / cannibalisation and the work you mention won't be done. In fairness the Unions sound a little more upbeat in their statement in the local paper.
Now the Tories are back people will find out how little they care about stuff like this. Not sure how long the Chinese will continue to invest in what will shortly be a remote outpost production facility in a self-isolating economy.
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Smokeandsteam
Working Class First
As sadly predicted, the return of the North Lincolnshire Iron Company looms. Scunthorpe already on its arse through austerity and slow decline.
Latest from the local paper- Scunthorpe Evening Telegraph
But as you say its either that or total shutdown / cannibalisation and the work you mention won't be done. In fairness the Unions sound a little more upbeat in their statement in the local paper.
Now the Tories are back people will find out how little they care about stuff like this. Not sure how long the Chinese will continue to invest in what will shortly be a remote outpost production facility in a self-isolating economy.
The litmus test for the unions position is, in my view, whether or not the £1.2Bn investment plan is real or not.
Despite the clueless union official, quoted in the piece bragging that this is some brilliant achievement because Jingye could have slashed terms and conditions, this was probably the best that could be achieved. The boat was missed 6/7 months ago, and definitely before the GE, in respect of public ownership.
steeplejack
trapped lbw for a duck
Today's the day when people who work at British Steel find out whether their employment will continue, or not. Apparently news being sent by e-mail in the next few hours.
Horrible wait for those affected.
Horrible wait for those affected.
Smokeandsteam
Working Class First
By email? Abysmal. Surely there is an agreed criteria for selection and a VR scheme?
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