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Started By
Message
re: Bayou Steel in Laplace shutting down 376 layoffs
Posted on 10/1/19 at 8:17 pm to No Colors
Posted on 10/1/19 at 8:17 pm to No Colors
quote:
But these guys make construction steel. What does that have to do with offshore?
The construction economy is booming. And there's a big infrastructure package pending in Congress that might make things really pop
It doesn’t have anything to do with offshore. They make structural steel wide flange beams, flat stock and bar stock of which very little is used offshore. Nor do they make pipe which is mostly industrial. They are primarily commercial construction suppliers and the industry is slowing. Plus they depend mostly on recycling steel and have a hard time getting it and yes that partially is because of the trade war with China.
In addition to all that they are seriously in debt.
And the infrastructure package isn’t going anywhere. He lost the first one when he was going to make the states match and the most recent discussions were in the spring for a new 2 trillion dollar package which the Republicans called pie in the sky. We can all forget about new federally funded roads and bridges for awhile.
1
Posted on 10/1/19 at 8:23 pm to Martini
Well they filed for bankruptcy so there’s that as well.
I hope your ole man can find a new job
I hope your ole man can find a new job
Posted on 10/1/19 at 9:06 pm to tgrbaitn08
Posted on 10/1/19 at 9:10 pm to MrLSU
Sorry to hear this
Posted on 10/1/19 at 9:13 pm to jamiegla1
quote:
this may completely change that town. We may see a LaPlace transform
Highly underrated comment in this thread.
Posted on 10/2/19 at 1:08 pm to LNCHBOX
quote:
Diff Eq joke is noted and upvoted
It was such an integral part of the community
I’ll stop
Posted on 10/2/19 at 2:13 pm to Bedhog
quote:
A "Steel plant in Zachary "?
Steel/paper same thing
Posted on 10/2/19 at 2:25 pm to TigerWise
quote:
Thanks Donald
So only state not doing well, and it's the Don's fault?
Posted on 10/3/19 at 6:32 pm to The Mick
quote:
They also owe tons of money to suppliers, not surprisingly.
No doubt. So why not just file for bankruptcy, and stiff said suppliers, a la the multiple bankruptcies Trump filed where he stiffed suppliers, employees, contractors, as a result of his shitty casino business decisions? (And we're worried about "creeping socialism" ... LOL ... when POS's like Trump can spread the risk of shitty business decisions to their suppliers, etc.)
Posted on 10/3/19 at 6:35 pm to TigerJeff
Solid bump, even better melt
Posted on 10/3/19 at 6:38 pm to TigersSEC2010
Huh? Isn't this a normal consequence of the free market? Those folks can get new jobs. There are no guarantees, right? Next thing you'll be telling me the UNION should be able to fight for them ... but unions are bad, right?
Seems like big bad red state, free market warriors turn into Democrats when something goes wrong and they need help. ("Road Home" money anyone?)
Jindal was HORRIBLE. Vitter would've been another Grover Norquist fellater. The State is much better off under JBE and even the GOP recognizes this by running such lame candidates.
Seems like big bad red state, free market warriors turn into Democrats when something goes wrong and they need help. ("Road Home" money anyone?)
Jindal was HORRIBLE. Vitter would've been another Grover Norquist fellater. The State is much better off under JBE and even the GOP recognizes this by running such lame candidates.
Posted on 10/3/19 at 7:08 pm to TigerJeff
Jindal was a joke. I'm not sure Grover Norquist has ever kissed a woman.
The minute those private equity vultures bought Bayou Steel, that was your sign to find another job. Those people don't invest anything in a company once they get hold of it. They force the company to borrow money at a high interest rate to stay afloat, ship the profits back to their favorite East Coast shitehole, and forget all about it when it's no longer making money.
The minute those private equity vultures bought Bayou Steel, that was your sign to find another job. Those people don't invest anything in a company once they get hold of it. They force the company to borrow money at a high interest rate to stay afloat, ship the profits back to their favorite East Coast shitehole, and forget all about it when it's no longer making money.
Posted on 10/3/19 at 8:10 pm to TigerJeff
quote:
Isn't this a normal consequence of the free market
What, the statewide loss of jobs?
quote:
Those folks can get new jobs
Exactly, they can migrate to Texas or Atlanta and follow thousands of other Louisianians.
quote:
Jindal was HORRIBLE
Yes he was, but at least these people had a job when he was governor.
Posted on 10/4/19 at 3:35 pm to MrLSU
LINK /
‘Earlier this week the news hit that Bayou Steel, the LaPlace-based scrap metal recycling mill, is shutting down operations and laying off some 376 employees. The Bayou Steel layoffs, which our sources tell us are part of a Chapter 11 bankruptcy filing and the plant might reopen before the end of the year (we’ve heard two different stories on that), represented a politically-embarrassing data point for Louisiana governor John Bel Edwards – whose camp has been vigorous in their attempts to sell the Louisiana economy as robust.’
‘We checked into this, and what you would expect to be the truth, is. Bayou Steel’s raw materials are predominately domestic. Not imported.
This is the kind of statement a politician like John Bel Edwards, who tells lies designed to bamboozle the ignorant and the stupid, will make as a matter of course.
He goes and blames Trump for Bayou Steel’s closure, knowing that his base will believe it because they want to believe bad things about the president. And he does it because he knows nobody in the legacy media will challenge him. They won’t challenge him because (1) they don’t know anything about business, (2) they’re lazy and (3) they want to help him.’
While some may not consider the hayride as their first choice of news, this article summarizes JBE’s ridiculous statements that this mill closed due to tariffs on imported steel.
‘Earlier this week the news hit that Bayou Steel, the LaPlace-based scrap metal recycling mill, is shutting down operations and laying off some 376 employees. The Bayou Steel layoffs, which our sources tell us are part of a Chapter 11 bankruptcy filing and the plant might reopen before the end of the year (we’ve heard two different stories on that), represented a politically-embarrassing data point for Louisiana governor John Bel Edwards – whose camp has been vigorous in their attempts to sell the Louisiana economy as robust.’
‘We checked into this, and what you would expect to be the truth, is. Bayou Steel’s raw materials are predominately domestic. Not imported.
This is the kind of statement a politician like John Bel Edwards, who tells lies designed to bamboozle the ignorant and the stupid, will make as a matter of course.
He goes and blames Trump for Bayou Steel’s closure, knowing that his base will believe it because they want to believe bad things about the president. And he does it because he knows nobody in the legacy media will challenge him. They won’t challenge him because (1) they don’t know anything about business, (2) they’re lazy and (3) they want to help him.’
While some may not consider the hayride as their first choice of news, this article summarizes JBE’s ridiculous statements that this mill closed due to tariffs on imported steel.
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