Final Thoughts

Wednesday, October 11, 2017 12:00 PM Written by 
Published in Final Thoughts

We received a number of responses to our articles on ethics. We didn't want to beat a dead horse by producing another article this evening, even though there is plenty to write about. For those of you who have not noticed, Kobe Steel in Japan has admitted falsifying data on materials placed in autos, trains and aircraft. The initial reports do not specifically mention steel - more aluminum and other materials. Nonetheless, the reputation of Kobe Steel may be damaged beyond repair. The mill made an ethical decision to deceive its customers and now they, and perhaps the entire Japanese industry, will be harmed by the lack of foresight and actions of a few. It only takes the actions of a few (maybe even just one) to ruin a company's reputation. It will be interesting to watch what happens to Kobe Steel in the coming weeks and months.



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John Packard

John Packard is the President and Publisher of Steel Market Update. Since 1977, he has been an active participant in the flat rolled steel business in North America. His background provides the unique flavor and quality of Steel Market Update. John has held positions in the service center, steel mill and trading company segments of the flat rolled steel industry. John founded Steel Market Update, Inc. in August 2008. John can be reached via email at: John@SteelMarketUpdate.com or by phone: 800-432-3475.

Website: www.SteelMarketUpdate.com
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