Word: steeled
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Dates: during 2000-2009
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Already the world's largest producer of iron ore and one of the largest producers of nickel, Vale is also a growing force in copper, manganese, bauxite, precious metals, aluminum, coal, steel and energy. Its stock price has more than doubled in the past year, to nearly $33, and the company's market value is about $160 billion, 16 times what it was in 1997. Douglas B. Silver, an industry veteran and CEO of Colorado-based International Royalty Corp., calls Vale "the most effective giant mining company in the world," not just for its size but also for its skill...
...Vale's revenues, and Agnelli's first move was to consolidate domestically, by selling off peripheral holdings in paper and forestry (Agnelli's family business) and using the proceeds to swallow eight rival firms. This gave the company new reserves and more sway over prices to the domestic steel industry, just before the commodities boom really kicked off in 2003 with China's explosive growth. But instead of allowing costs to expand with growth, Agnelli reduced overhead, turning logistics, for example, into a core competency. Vale now owns numerous ports and 10,000 miles (about 16,000 km) of rail...
...Ohio has been hit hard by a series of economic shocks that began in the late 1970s and continue through today, as the state's once formidable steel, automobile and rubber products sectors have seen plant after plant close down, move overseas and not return. Ohio was in Republican hands for much of the 1980s and 1990s; it lacks the broad vein of white, affluent liberals that have helped lift Obama to victories in Connecticut or Maryland; in Ohio, affluent whites tend to be Republican. In 2006, the state elected its first Democratic governor, Ted Strickland, in a generation. Most...
...disparity between votes polled and seats won, a feature of Britain's single-member-district electoral system, drew immediate cries of protest from Alliance officials. "I feel a sense of outrage," said Liberal Leader David Steel, 45. Complained Shirley Williams: "Under a different system, it would have been a spectacular performance...
Thus Thatcher will press more re forms on the labor unions, including legis lation that would require union leaders to stand for re-election every five years and allow union members to opt out of auto matically paying dues to the Labor Party Declining industries such as steel, coal and shipbuilding will be urged to up productivity and modernize facilities. Besides selling more state-owned companies, she will allow some private utilities to compete with public ones. And in her belief that "property induces responsibility in society," Thatcher plans to permit more tenants to buy their government-built homes. hatcher...