Word: steels
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While much of corporate Europe shut down last week, top officials at the Luxembourg steel company Arcelor were working harder than ever. In the space of just seven days starting Dec. 22, the firm bought a 50% stake in two Costa Rican firms and snapped up 20.5% of a Turkish steel company. By far its biggest move came on Dec. 23, when ceo Guy Dollé announced a $4.2 billion hostile takeover bid for Canada's leading steel producer Dofasco, topping an agreed offer by Germany's ThyssenKrupp. Arcelor is trying to reduce its heavy dependence on the European market...
...union has also made it clear that the strike was not just about dollars and cents, but about respect as well. The workers, Toussaint intoned, deserve to be noticed, not to mention appreciated, for their endless toil below ground, among the rats and the steel dust. The notice they gained this week, however, looked at times more like notoriety-from commuters carping about the relatively high transit worker salary to angry blogs posting pictures of various station agents sleeping in their booths before the strike. But on this morning, however, forgiveness was in the close subway station...
...most surprising success, as Beam replaced the driving folk guitar of the recorded version with—are those palm-muted power chords? Beam made the unlikely arrangement work somehow, playing the song at a moderate tempo with moody accompaniment from softly driving toms, a violin, and a pedal steel guitar.Beam’s attempts to reinvigorate his work were valuable experiments even when they fell flat. A full-band, electric version “Jezebel,” one of Beam’s strongest songs, failed to improve on the original. Instead, the quickened tempo and staccato...
...textile factory, run a bank and so on. We had traders, not manufacturers. Why did we [the government] start a shipping line? Because we didn't have a Y.K. Pao or a C.Y. Tung as in Hong Kong. The same with Singapore Airlines, and so with an iron and steel mill. How do we get out of these companies now? To get out, we've got to find a buyer who can provide the management to take over. We produced the bright officers who are good at numbers and who learned on the job. They did a great...
...strict earthquake-resistance standards. Thirteen buildings, it said, were so poorly protected that they were unlikely to withstand a medium-strength temblor. Most shocking of all: Aneha's work failed to meet codes not due to error or incompetence, but because he knowingly skimped on materials like reinforced steel and then fabricated safety data to indicate projects were in compliance. Aneha, who admitted in a press conference to faking the data, said he had buckled under pressure to meet cost requirements of developers and construction firms that had hired him. In hearings before the Japanese parliament last week, Hideaki Shinozuka...