I'd like to write to our (horrid, racist) newspaper and weekly free paper regarding local layoffs from steel industry plants here (incl. W.Virginia); maybe get a good discusssion going -- but I really don't know what I'm talking about. I'd like some background and information from you folks.
Throughout December, there were thousands laid off work in steel plants here. TV news and the workers themselves blamed: The Government's (Clinton's) Buying Cheap Asian Steel, for their plight. Some questions I have: Is this true/ false/ too simplified? When companies have "bad quarters", are there alternatives to sticking it to lowest workers? Can stock-holders or hi/lo management eat some of loss too? When a company says, we must fire you because of "the stock-holders" ---- do companies have actual contractual agreements to keep profits at a certain level? With whom? If so, what are the additional consequences for a "bad quarter"?
Pittsburgh's a great town --- really, it is! But upon returning I was shocked at the racism here and greatly saddened to see the skeletal, post-industrial neighborhoods out where I'm living - East of Pgh. in the Mon Valley.
Sorry to be such a dope about economics and thanks in advance for your help.
Ellen Kaufman