Quote:
Originally Posted by SteelTown
Yea I see no problem with adding 10,000 or so to the unemployed bandwagon.
EI would skyrocket, poverty would increase, government funds would dry up, closed factories would rust up and no money to do any brownfield cleanup.
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The winding down of the steel industry has not be sudden. This process began in 1989 an has been progressing ever since. It will be so gradual that we may not even notice when everything is finally gone.
The problems at Hilton works are very acute. It's too large and too outdated to be sustainably profitable, there is no way they are going to sink huge amounts of capital dollars to modernize it. Dofasco is somewhat better as they have spent the capital to keep the plant more modern. I am going to predict that steel dumping from the BRIC countries during this downturn is going to make things even worse.
I have hope that I will be around to see the smokestack industries gone. They have done alot to build Hamilton into a large city but I think they are now doing more harm than good. Time to move on.