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Posted by: miklkit 1 year, 8 months ago

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miklkit1 year, 8 months ago

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Our steel industry destroyed itself by not investing in new, modern plants. Instead they gave that money to their stockholders until it was all gone.

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  BB641 year, 8 months ago
  
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  Wow you are young. You cannot force plants to add billions for clean air requirements and then permit the competitors from China, Malaysia, South Korea, Mexico and India flood the market driving costs down. It killed the steel business here. What's worse, some plants met the standards only to find new standards were created that were even more difficult to reach. It's often cheaper to move the plants.
  As to your ignorance on stock holders, they're the ones who put the money up to start or grow a company. If you invest your money but fail to make anything on it, you're likely not to invest again. This is free enterprise and the greatest companies in the world were created like this. AT&T, Microsoft, GM, Ford and the like.
  BTW-when firms go broke there's nothing to pay stock holders. Often times the employees lost everything because their pensions were part of this group too.
  
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