investment

Wednesday August 24, 2016

By Graeme MacKay, The Hamilton Spectator - Wednesday August 24, 2016 Locals outraged at OttawaÕs Òdeafening silenceÓ on steel industry Union leaders, Opposition MPs and even the Chamber of Commerce are pressing the federal government to help Canada's struggling steel industry. Two Hamilton Members of Parliament, three chambers of commerce and union leaders at the local and provincial levels separately have called for help for the industry and especially for retirees and workers in Hamilton. NDP MPs Scott Duvall (Hamilton Mountain)Êand Dave Christopherson (Hamilton Centre) have written to Economic Development Minister Navdeep Bains, saying the federal government has stayed on the sidelines too long. "To date, your government has not been tangibly involved in any way to help protect the jobs, benefits and pensions of current and former employees of USSC/Stelco despite commitments previously made by colleagues and the Prime Minister" they wrote. "Workers, pensioners, the business community and the City of Hamilton have all appealed for your help. So far, you and your government have been missing in action.Ó As a start, they want the government to release the "secret deal" that ended a lawsuit against U.S. Steel for breaking the production and employment promises it made to get government approval for the acquisition. They also back a call by the United Steelworkers union for a public inquiryÊinto Canadian bankruptcy law they say favours creditors at the expense of workers and retirees, and the 2007 takeover of Stelco by U.S. Steel. Duvall has raised the issue in ParliamentÊseveral times. U.S. Steel Canada, the former Stelco, has been under creditor protection since Sept. 16, 2014. It is seeking a buyer for the mills in Hamilton and Nanticoke. On the business front, chambers of commerce in Hamilton, Windsor and Sault Ste. Marie are taking a joint resolution to the Canadian chamber's national convention calling for a policy to protect the industry from unfair fo

By Graeme MacKay, The Hamilton Spectator – Wednesday August 24, 2016

Locals outraged at Ottawa’s “deafening silence” on steel industry

Union leaders, Opposition MPs and even the Chamber of Commerce are pressing the federal government to help Canada’s struggling steel industry.

Two Hamilton Members of Parliament, three chambers of commerce and union leaders at the local and provincial levels separately have called for help for the industry and especially for retirees and workers in Hamilton.

By Graeme MacKay, Editorial Cartoonist, The Hamilton Spectator - Thursday September 26, 2015 Dispute over U.S. Steel Canada restructuring sent to mediation The dispute between United States Steel Corp. and its stakeholders over the future of U.S. Steel Canada Inc., has been sent to mediation by the Ontario Superior Court judge overseeing the Canadian unitÕs restructuring. The issues in dispute between the United Steelworkers union, the Ontario government, salaried active and retired employees, and a former president of its predecessor company Stelco Inc. on one side and U.S. Steel on the other, will be examined by former Ontario Superior Court associate chief justice Douglas Cunningham in a three-day session scheduled to begin next week. ÒThe mediation shall address the feasibility of a comprehensive agreement among the parties,Ó Justice Herman Wilton-Siegel said in an order. The mediation will also address a business plan for the Canadian unit, its potential sale, the shift of production of high value-added steel to the United States and U.S. SteelÕs claim of more than $2-billion against the Canadian unit. U.S. Steel Canada has been operating under the CompaniesÕ Creditors Arrangement Act since last September, but the announcement by its parent company that it plans to shift production of about 180,000 tons of high-quality steel annually out of its Canadian operations has sparked an imminent crisis in the restructuring. Shifting production would diminish the value of the Canadian assets in the eyes of potential buyers, steel industry sources said. U.S. Steel has started a sales process that has led to a bid by one competitor Ð Essar Steel Algoma Inc., which is based in Sault Ste. Marie, Ont., but has the backing of a deep-pocketed parent company in India. Potential buyers also need to wonder whether other steel-making contracts will be shifted out of Canada, leaving the Canadian operations to depend entirely on the spot steel market. Stakeholders have quest

Thursday September 26, 2015

NDP MPs Scott Duvall (Hamilton Mountain) and Dave Christopherson (Hamilton Centre) have written to Economic Development Minister Navdeep Bains, saying the federal government has stayed on the sidelines too long.

“To date, your government has not been tangibly involved in any way to help protect the jobs, benefits and pensions of current and former employees of USSC/Stelco despite commitments previously made by colleagues and the Prime Minister” they wrote. “Workers, pensioners, the business community and the City of Hamilton have all appealed for your help. So far, you and your government have been missing in action.”

As a start, they want the government to release the “secret deal” that ended a lawsuit against U.S. Steel for breaking the production and employment promises it made to get government approval for the acquisition.

They also back a call by the United Steelworkers union for a public inquiry into Canadian bankruptcy law they say favours creditors at the expense of workers and retirees, and the 2007 takeover of Stelco by U.S. Steel. Duvall has raised the issue in Parliament several times.

Thursday September 18, 2014

September 18, 2014

U.S. Steel Canada, the former Stelco, has been under creditor protection since Sept. 16, 2014. It is seeking a buyer for the mills in Hamilton and Nanticoke.

On the business front, chambers of commerce in Hamilton, Windsor and Sault Ste. Marie are taking a joint resolution to the Canadian chamber’s national convention calling for a policy to protect the industry from unfair foreign competition.

By Graeme MacKay, Editorial Cartoonist, The Hamilton Spectator - Friday October 9, 2015 Decision on U.S. Steel Canada benefit, tax cuts Friday The judge presiding over U.S. Steel Canada restructuring hearings says he will render a decision Friday on a controversial plan to sever the subsidiary from its parent company and relieve it of tens of millions of dollars in pension benefit and municipal tax obligations. Justice Herman J. Wilton-Siegel said it is one of the toughest decisions he has had to make from the bench. He said he will give a short written summary of his decision tomorrow and then follow it up with a detailed explanation next week. Dozens of USSC retirees bused into Toronto again today and packed the courtroom where lawyers representing stakeholders gave their final submissions. A lawyer for the steelmaker reiterated the company's position that USSC was a victim of circumstances and changing market conditions that turned the business into a crisis requiring the difficult measures of the transition agreement. Pension benefit obligations were estimated to be $40 million before the end of this year and the company does not have the funds, he said. He refuted arguments from United Steelworkers lawyers that savings could be found elsewhere Ñ making the pension benefit hit unnecessary Ñ and that the company's grim fortunes were the result of steel orders being moved from the Canadian subsidiary to other U.S. Steel operations. United Steelworkers 1005 President Gary Howe said after the hearing that he expects the judge to go along with the company plan because it has the backing of the monitor overseeing the proceedings. In its most recent statement, the monitor said "a near-term cessation of operations will be necessary" if the company plan isn't accepted. (Source: Hamilton Spectator) http://www.thespec.com/news-story/5951456-decision-on-u-s-steel-canada-benefit-tax-cuts-friday/ Hamilton, U.S. Steel, Trade, Foreign Investment, subsidies, bailout, St

Friday October 9, 2015

“The biggest issue for us is dumping from China,” said Hamilton Chamber of Commerce president Keanin Loomis. “Obviously there’s a real issue of fairness there.”

Products are dumped in foreign markets when they are sold for less than their costs of production or with subsidies from a government.

“What we want is a level playing field in the global production and procurement process,” added Rory Ring, executive director of the Sault chamber. “We’re competing against companies that are either government owned or that operate with less than reasonable environmental and labour laws.” (Source: Hamilton Spectator)

 

 

Wednesday June 24, 2015

By Graeme MacKay, Editorial Cartoonist, The Hamilton Spectator - Wednesday June 24, 2015 Invasive crab makes strange appearance in Cootes Paradise Scientists at the Royal Botanical Gardens are scratching their heads about the bizarre discovery Monday of a live Asian crab, a creature listed as one of the 100 worst invasive species on Earth. The adult crustacean Ñ with its centre section, carapace, measuring 8 centimetres across Ñ was identified as a Chinese Mitten Crab. It was inadvertently captured at the Cootes Paradise Fishway, a structure designed to keep carp out of Cootes Paradise from Hamilton Harbour, but allow other desirable species of fish to pass through. "I was absolutely amazed how big the crab was and the fact that it was living in fresh water," said Tys Theysmeyer, head of natural lands at the RBG. According to the World Conservation Union, an international environmental group based in Switzerland, the burrowing crab with furry, mittenlike claws "modifies habitats by causing erosion due to its intensive burrowing activity and costs fisheries and aquaculture several hundreds of thousands of dollars per year by consuming bait and trapped fish as well as by damaging gear." But while the Chinese Mitten Crab has caused major problems in Europe, it is not viewed as a threat to the Great Lakes, says Hugh MacIsaac, an invasive species expert from the University of Windsor. The creature, he says, would not be able to reproduce. The crab requires saltwater to bear offspring and that's not something a crab in Hamilton Harbour could reasonably find. The St. Lawrence Seaway does not become salty enough until Quebec City, nearly 900 kilometres away from Hamilton. In other parts of the world where fresh and salt water are closer together, such as the Thames River in England, it's a different story. The crustacean is multiplying rapidly there, destroying fragile riverbanks as it preys on native species. Six years ago, Londoners were told that the crab was sa

By Graeme MacKay, Editorial Cartoonist, The Hamilton Spectator – Wednesday June 24, 2015

Invasive crab makes strange appearance in Cootes Paradise

Scientists at the Royal Botanical Gardens are scratching their heads about the bizarre discovery Monday of a live Asian crab, a creature listed as one of the 100 worst invasive species on Earth.

The adult crustacean — with its centre section, carapace, measuring 8 centimetres across — was identified as a Chinese Mitten Crab. It was inadvertently captured at the Cootes Paradise Fishway, a structure designed to keep carp out of Cootes Paradise from Hamilton Harbour, but allow other desirable species of fish to pass through.

“I was absolutely amazed how big the crab was and the fact that it was living in fresh water,” said Tys Theysmeyer, head of natural lands at the RBG.

According to the World Conservation Union, an international environmental group based in Switzerland, the burrowing crab with furry, mittenlike claws “modifies habitats by causing erosion due to its intensive burrowing activity and costs fisheries and aquaculture several hundreds of thousands of dollars per year by consuming bait and trapped fish as well as by damaging gear.”

But while the Chinese Mitten Crab has caused major problems in Europe, it is not viewed as a threat to the Great Lakes, says Hugh MacIsaac, an invasive species expert from the University of Windsor. The creature, he says, would not be able to reproduce.

The crab requires saltwater to bear offspring and that’s not something a crab in Hamilton Harbour could reasonably find. The St. Lawrence Seaway does not become salty enough until Quebec City, nearly 900 kilometres away from Hamilton.

In other parts of the world where fresh and salt water are closer together, such as the Thames River in England, it’s a different story. The crustacean is multiplying rapidly there, destroying fragile riverbanks as it preys on native species.

Six years ago, Londoners were told that the crab was safe to eat and to some it has become a food source. But high numbers continue.

There have been occasional discoveries of the crab in the Great Lakes over the years, but Monday’s was the first report in Hamilton Harbour. MacIsaac says the creature probably found its way to the harbour in the ballast water of a ship.

The crab was picked up by the Department of Fisheries and Oceans and was being analyzed. A spokesperson was not available for comment. (Source: Hamilton Spectator)