When steel was king

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Hollie Newton
Apr 8, 2014

 

50 years ago, 1964: Eight steel companies - including U.S. Steel, the industry's largest -  were indicted by a federal grand jury on antitrust charges. They were accused of conspiring to fix prices in the $3.6 billion carbon sheet steel business.

25 years ago, 1989: Federal officials said Americans were buying less fuel-efficient cars despite rising concern about 'greenhouse effect' and U.S. dependence on oil imports.

10 years ago, 2004: Canadian officials ordered the slaughter of some 19 million chickens and turkeys in British Columbia to try to stop the spread of bird flu. The cull affected 80 percent of the province's poultry producers and was ordered after avian flu spread beyond a 7-mile radius.

Comments

Keep Focused

In retrospect, did the Federal Govt. help send the steel industry to Japan?

JudgeMeNot

Not entirely, the globalization of steel making saturated the market in the 70-80's and prices tanked. The higher union wages in the US could no longer compete with other countries.