Final Thoughts

A note about our publication schedule for next week as next Friday is the 4th of July Holiday in the U.S. We will not publish an issue on the 3rd and 6th of July unless there is an issue of importance which needs to be covered on an expedited basis. We will publish on Sunday and Tuesday evening as always and will return to our normal schedule on Tuesday, July 8th.

I found the news about O’Neal and Leeco Steel winning their lawsuit against those who misrepresented steel being sold and falsified documents quite interesting. Ethics and the steel business has been something of interest to me as I struggled during my active sales career to compete against companies who willingly misrepresented billing methods and weights. More recently I understand there have been instances of companies stenciling the wrong coating weight on galvanized steel in an effort to increase margins or just take orders. We need a few more O’Neal and Leeco’s out there who will stand up for what is right and ethical. That’s my opinion, I welcome yours.

SMU ran into a hornet’s nest when we reported about the ILWU labor negotiations which affects ports around the country but especially on the west coast. They did not like that we quoted Armada Corporate Intelligence as referencing past work stoppages as “strikes” which they were using in a generic sense. The union contacted SMU and asked that we correct the record (which we did) and report the work stoppage as a “lockout” and not a strike. We stand corrected. There is also a big debate brewing about the cost of any new work stoppage at the ports should one occur. We will let the economists and politicians work that one out. The two sides are negotiating and the union has told us that it is normal for settlements to come at the 11th hour. The contracts expire at the end of this month.

As always your business is truly appreciated by all of us here at Steel Market Update.

John Packard, Publisher

Tell your customers and suppliers, “See you in Atlanta in September!“