Tuesday, July 13, 2004
Three different steel companies, 3 totally different scenarios .... Yahoo! News - Algoma Steel workers give union leaders go-ahead for strike if necessary: "The United Steelworkers union said Tuesday that members of its Local 2251 voted 96 per cent in favour of strike action.
Algoma Steel has twice emerged from a restructuring under bankruptcy protection - in 1992 and in 2002. Both times, workers were asked to agree to labour cost concessions.
With Algoma having returned to profitability, the union says it wants 'to share in the company's good times.' Algoma reported in April a first-quarter profit of $22.1 million - triple what it made in the same 2003 period, as it benefited from rising demand and, in turn, higher prices for steel.
Algoma's unionized workforce 'have repeatedly responded to the company's requests in time of need,' the Steelworkers said in a statement.
'The union is seeking a collective agreement that is fair to all the workers, who have already given so much and are entitled to a fair share when there is a profit,' the union added. "
Algoma Steel has twice emerged from a restructuring under bankruptcy protection - in 1992 and in 2002. Both times, workers were asked to agree to labour cost concessions.
With Algoma having returned to profitability, the union says it wants 'to share in the company's good times.' Algoma reported in April a first-quarter profit of $22.1 million - triple what it made in the same 2003 period, as it benefited from rising demand and, in turn, higher prices for steel.
Algoma's unionized workforce 'have repeatedly responded to the company's requests in time of need,' the Steelworkers said in a statement.
'The union is seeking a collective agreement that is fair to all the workers, who have already given so much and are entitled to a fair share when there is a profit,' the union added. "
