Union could derail Stelco financing

Article Abstract:

The United Steelworkers of America raised the stakes in Stelco Inc.'s restructuring with a move that could derail the Deutsche Bank AG financing plan for the legally insolvent steel maker. The Union reported that its Lake Erie Works local would not reach a deal on a new labour agreement with Stelco by November 18, 2004, a deadline set by General Motors Corp. as a condition for buying steel from Stelco in 2005.

United States, Management dynamics, Management, Company business management, United Steelworkers of America

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Looming deadlines have Stelco scrambling

Article Abstract:

Stelco Inc. attempted to satisfy some of the critics of its $900 million refinancing deal with Deutsche Bank AG, but also fired a shot at its largest union, which would try to block the deal in the court. There was a doubt whether the Deutsche Bank deal would still stand, because the transaction depends on the insolvent steel maker having a new supply contract with General Motors Corporation.

Commercial Banks, Germany, Services information, Banking industry, Services, Deutsche Bank AG (Frankfurt, Germany), DB

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Stelco brass gets an earful from angry shareholders

Article Abstract:

James Alfano, the president of Stelco Inc., has reported that the steel maker suffered a $44 million loss for the first quarter. Stelco, whose management has been strongly criticized by shareholders at its annual meeting, has been hurt by rising natural gas prices.

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