Severstal pulls the plug

Mark Reutter reports that Severstal is trying to find a buyer for its mills in Baltimore, Ohio and West Virginia--and in the meantime, idling 90% of the Sparrows Point workforce.

http://www.baltimorebrew.com/2010/08/11/is-sparrows-point-up-for-sale-co...

55%!

Since the recession began 30 months ago, more than half of all adults in the workforce—55 percent—say that they have either been unemployed, taken a pay cut, had their work hours reduced or have become involuntary part-time workers, according to a new survey by the Pew Research Center’s Social and Demographic Trends Project.
The survey shows the impact of the recession goes far beyond the 9.5 percent of the workforce that is unemployed and the 16.5 percent underemployed.

http://blog.aflcio.org/2010/07/02/study-recession-has-hit-more-than-half...

SP Shutdown delayed till end of July

Reported by The Dundalk Eagle

While Russian-made slabs continue to be imported for use at Sparrows Point, Severstal North America’s plans to temporarily shut down the mill’s steelmaking L blast furnace have been delayed for about a month and layoffs are expected, according to a union leader.

http://dundalkeagle.com/index.php?option=com_content&view=article&id=330...