This steel company owner on 60 minutes is kicking ass!

[Hello_Kitty]

Leslie Stahl is trying her hardest to throw every Globalist line in the book at him but he is swatting them down like annoying little flies. He is the CEO of Nucor Steel and he is keeping all his plants running at 50% to keep his employees working.

Here's a video link if you missed the show: http://www.cbsnews.com/stories/2009/02/13/60minutes/main4801257.shtml

[lunatica]

1. Help is on the way. Our infrastructure needs steel. Lots an lots of steel

It won't be long before he's hiring hundreds more..

[Locrian]

4. I hear

Blue Horseshoe Loves Nucor Steel ......


(from "wallstreet" : "Blue Horseshoe Loves Endicott Steel" in case anyone missed my obtuse reference!)

[BlooInBloo]

5. Good point.

[Zynx]

2. Nucor is not a bad company.

As far as big corporations go, everything I've heard about them is pretty benign.

[patrice]

6. It'd be nice if there were something like the Goodhousekeeping Seal of Approval for

Progressive corporations who actually have demonstrated constructive problem-solving relations between management and workers.

[LiberalFighter]

3. I bet he is thinking ahead of the game. Being prepared to mobilize his workers when economy kicks up

And saving money by not having to pay unemployment too.

The main reason possibly is making sure he can kick up production within days instead of weeks.

[underpants]

8. My wife studied NUCOR 12 years ago in a final semester accounting class

What you saw was a current snapshot of how they operate. They saw the need to cut out the mining industry in the production process-namely recycling- a long time ago. A fantastic company on every level.

The PR aspect of this was that the NUCOR guy was in a shirt (shiny yes), regular Joe looking guy, and apparently has had brain surgery. The Caterpillar guy was in a suit. One kept everyone on (avoiding huge firing/rehiring HR costs) the other one cut while still making money.

the profit sharing vs. union issue was of course not covered by Leslie Stahl because we simply can't talk about unions.

[Hello_Kitty]

18. Yeah, I thought the union angle was interesting too.

I'm very pro-union but if a company can offer an alternative situation that works, go for it.

[madrchsod]

19. nucor is`t union but pays a decent rate on tonnage

he also runs a tighter ship than must of the union plants. he has to keep his employees because working in a steel mill is`t something does because "it`s a job"...

[Statistical]

7. Nucor is an extremely well run company

(FULL DISCLOSURE: I own Nucor stock).

Company is profitable at 50% capacity.

Anyone think GM, Toyota, or even Intel could remain in the black running at 50% capacity?
When the world economy recovers, steel demand goes up and Nucor is running at 80% capacity imagine how much $$$ they will be making then. Doing it without fucking over the workers.


It has kept layoffs at a minimum and avoided shutting down as many foundries as possible.

Not just because it is the right thing but so they will be well positioned when economy turns around.

Lastly Nucor is one of the few companies on the right side of our trade equation with China.
China is now a net steel imported and Nucor is one of the biggest sellers.

[Traveling_Home]

12. What's a fair profit margin for them. Seems that should have some control for workers on it. nt

[PM Martin]

14. Fascinating.

A first world manufacturer that can compete with the unfair "free trade" mafia.

[Coexist]

9. USW member here!

[madrchsod]

16. former member and dam proud of it...

[madrchsod]

17. seeing double..delete

[barb162]

10. He was damned good. He should be explaining things to Obama,

and Congress and any one else who thinks free trade is good for this country.

[Pirate Smile]

11. Wasn't Stahl's last line of the segment that the steel company owner would be a happy man because

the Buy America provision was in the stimulus bill that passed? I think so.

[madrchsod]

13. as much as i dislike stahl

he`s done a good job running one of the few if not the only big steel producer actually owned by an american. he keeps his guys employed because he can not afford to lose them.

there`s a big empty riverfront where the steel mill that i worked in once stood. we were in competition with nucor until the chinese started dumping ingots into the us market and shut down the three largest electric arc furnaces in the usa. we lost a 24in and a 12in H beam rolling mill,angle and channel mills,and wire cloth and nails all to foreign steel companies. we could have provided hundreds tons of structural steel to rebuild america but it`s to late for northwestern steel and wire and the thousand mean and women who worked there.

[Manifestor_of_Light]

15. there's a Nucor plant in the little town I live in.

Every other business has been crushed by Wallyworld.

We don't have any grocery stores. We have a Subway and a Dollar General.

[Fire1]

20. Like the CEO stated, theres nothing wrong with 'free trade,' as

long as everybody plays fair. I also think companies with subsidiaries in tax haven countries should restricted from the agreement, taxed heavily or shut down.

[Elwood P Dowd]

21. I wish the CEO had mentioned just how flawed and insane our so called "Free Trade" deals really have

become. We allow our trading partners to charge us with a 20-30% VAT on our exports but have no VAT on their goods. We give some of them 15-20 years to lower their tariffs, while we lower ours almost immediately to 2-3%. We allow them to subsidize their exports, and then we allow them to dump the products at below cost prices on our economy. Our trade policies are financial suicide for working people.