Ron Bloom: Selling Out Manufacturing?

Posted: September 8, 2009 in Economy, Politics
Tags: , , , , , , , , , , ,

Our new manufacturing czar, Ron Bloom, has a background as a special assistant to the president of the United Steelworkers union and is known as a “savvy negotiator — with a tendency to spout profanities.” He has also been described by the Wall Street Journal as someone people in the USW thought was “too cozy with the moneymen.” These descriptions, however, are just a quick glimpse into what is an American tragedy.

In 2006, the Brazillian steel giant CSN attempted to merge with the Wheeling-Pittsburgh, Corp., a leading U.S. Steel manufacturer. The USW and Ron Bloom, however, fought a proxy battle in which they found an alternate bidder in Chicago-based Esmark Inc. in 2007. At the time it seemed like a great win for U.S. interests, but the story doesn’t end there.

The following year Esmark was bought by OAO Severstal, Russia’s largest steel producer, a deal which placed over 50 percent of the U.S. steel industry under the control of foreign powers. Who was behind that bid from Severstal? “The Steelworkers have been behind a $17-per-share offer from Russia’s OAO Severstal.”

http://www.hsconnect.com/page/content.detail/id/504773.html?nav=5010&showlayout=0

http://www.forbes.com/2008/06/17/severstal-esmark-update-markets-equity-cx_ra_0617markets38.html

Later this month, Esmark CEO Craig T. Bouchard is releasing a book titled America for Sale: How the Foreign Pack Circled and Devoured Esmark. It is described as:

America for Sale recaps the amazing, sometimes incredible events leading up to the sale of Esmark, including intense pressure from the United Steelworkers and the company’s major public shareholder to make a decision not in the best interest of all shareholders. It also analyzes the efforts by the Esmark board of directors to observe its fiduciary duty, details the company’s “poison pill” effort to raise its sales price, and describes the actions of Leo Gerard and Ron Bloom of the United Steelworkers Union—which led to some surprising alliances.”

Bouchard’s concern is that transactions that place control of so much of U.S. manufacturing in the hands of foreign companies is dangerous for America’s economic future. Yet, our new manufacturing czar supported selling our steel interests to Russia.

Questions:

With Ron Bloom now in a position of power in the new administration, what other U.S. industries will come under control of foreign interests? Is what we’re seeing the foundation of establishing a global economy by blurring the lines between U.S. and foreign companies and bringing so many more U.S. workers under the umbrella of foreign employers?

Other information:

Michelle Malkin » Out: Commie Truther green jobs czar. In: Union hack “manufacturing” czar

AYFS » Oh, yeah. That’s what will help the manufacturing sector. A union boss, raised as a socialist, as a “manufacturing czar”.

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Comments
  1. Richard says:

    i have worked at wheeling pitt/esmark/severstal for 31 years. i put the blame on our elected (so called leaders) .it doesnt matter dems or republicans. i also blame our international union and the greedy C.E.O.’S.people in this country better wake up!!!!!!!!!!!!!!!650 companies were taken over by foreigners in 2008 alone…..this is unexcuseable.OBAMA/BUSH………it doesnt matter.they are both LIARS..and congress and the senate also..i think its time the people stand up for ourselves……these elected bozo’s dont care about us at all.we have had foreign imports problems for years…..what did our elected do about it….NOTHING. not just steel it affects us all.it has got so bad that its not just imports its foreign takeovers now..what have our elected officials done…NOTHING…. lie to us is all they do.they can take their free trade and their NAFTA….and shove it ,well you know where.!!!!!!!!!!! instead of this adminstration stating in the stimulus to use american products…….it was changed to north american products.ohhhhhhhhhhhh we dont want to make mexico or canada mad do we? but to hell with our workers huh?obama said in his campaign that he will punish companies for sending our jobs over seas…then he turns right around and bails out the auto companies……..9WITH OUR TAX MONEY). and by the way .the auto companies are the first to buy illegally dumped steel from foreigners also.then chrysler announces they are going to manufacture there cars in mexico….i havent heard of the LIAR/OBAMA punishing them have you?the people of this country need to wake up….we need 100 million people surrounding the capital and another 100 million surrounding the white house……and stay there until the lying bozo’s start working for us.and not the rest of the world……..IM SICK OF IT….JUST SICK OF THESE BOZO’Sbill cosby said it best: we should stop trading with the rest of the world for at least 2 years.make it here and sell it hear.stop exports also….except wheat….because the rest of the world has to eat….BUT!!!!!!!!!! charge for a bushel of wheat what they charge us for a barrel of OIL !!!!!!!!!!!!!!!!!!!!!!!! get rid of press 1 for english!!!! if you want to come to this country you will speak english!!!!! put a 100& tax on all imports!!!!and use that money to pay off the national debt…..and pay for the LIARS health care reform…..HEY BOZO’S DO YOU GET THE FRICKIN PICTURE…………..WORK FOR US!!!!!!!!!!!!!!! i can go on all day here.i tyhink i said enough……and im not too far off here either….THE PEOPLE HAVE TO STEP UP AND TAKE AMERICA BACK…….FROM THE BOZO’S IN WASHINGTON….THE GREEDY C.E.O.’S AND THE REST OF THE WORLD………..LIKE I SAID EARLIER……..IM SICK OF IT……………………..ARE YOU?

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