Steelworkers React to USX Reorganization Plan

Apr 24, 2001, 01:00 ET from United Steelworkers of America

    PITTSBURGH, April 24 /PRNewswire Interactive News Release/ -- United
 Steelworkers of America President Leo Gerard released the following statement
 here today on the reorganization plan announced by USX Corporation:
     "While we're still studying the details of the USX reorganization plan,
 our initial reaction is positive that it will result in a strong, healthy
 company focused on steel.
     "As we've stated on numerous occasions, the union's primary concern is,
 and must be, preserving the jobs and income of our active members and the
 standard of living of our retirees.  So we are obviously concerned that the
 steel company -- a reborn United States Steel Corporation -- will be well
 capitalized and able to discharge its obligations.  To the extent that the
 plan achieves those objectives, the Steelworkers will be an active and
 supportive partner in the reorganization.
     "We're also encouraged that Tom Usher will remain as chairman and CEO of
 U.S. Steel.  Working with Mr. Usher over the years, we have the highest regard
 for his abilities as a steel executive and look forward to a continuing
 relationship of mutual respect.
     "Like the management of U.S. Steel, we remain deeply concerned about the
 ongoing crisis which has pushed the American steel industry to the brink of
 collapse -- the flood of illegal imports that has swamped our markets and
 depressed prices to the point where no steel company can earn a decent return
 on its investment.
     "This is a crisis caused by government maintenance of excess capacity in
 other regions of the world and perpetuated by the inaction of our own
 government.  Tinkering with the terms of a labor agreement or improving the
 efficiency of a steel mill will not resolve this crisis or create a level
 playing field that enables our industry to compete fairly in the world market.
     "We need comprehensive government action to address the problems of
 illegal imports, access to capital and legacy costs, and look forward to
 working with U.S. Steel and other producers to build a stronger, more
 competitive and more profitable American steel industry."
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X52718017
 
     CONTACT:  John Duray of the United Steelworkers of America, 412-562-2592.
 
 

SOURCE United Steelworkers of America
    PITTSBURGH, April 24 /PRNewswire Interactive News Release/ -- United
 Steelworkers of America President Leo Gerard released the following statement
 here today on the reorganization plan announced by USX Corporation:
     "While we're still studying the details of the USX reorganization plan,
 our initial reaction is positive that it will result in a strong, healthy
 company focused on steel.
     "As we've stated on numerous occasions, the union's primary concern is,
 and must be, preserving the jobs and income of our active members and the
 standard of living of our retirees.  So we are obviously concerned that the
 steel company -- a reborn United States Steel Corporation -- will be well
 capitalized and able to discharge its obligations.  To the extent that the
 plan achieves those objectives, the Steelworkers will be an active and
 supportive partner in the reorganization.
     "We're also encouraged that Tom Usher will remain as chairman and CEO of
 U.S. Steel.  Working with Mr. Usher over the years, we have the highest regard
 for his abilities as a steel executive and look forward to a continuing
 relationship of mutual respect.
     "Like the management of U.S. Steel, we remain deeply concerned about the
 ongoing crisis which has pushed the American steel industry to the brink of
 collapse -- the flood of illegal imports that has swamped our markets and
 depressed prices to the point where no steel company can earn a decent return
 on its investment.
     "This is a crisis caused by government maintenance of excess capacity in
 other regions of the world and perpetuated by the inaction of our own
 government.  Tinkering with the terms of a labor agreement or improving the
 efficiency of a steel mill will not resolve this crisis or create a level
 playing field that enables our industry to compete fairly in the world market.
     "We need comprehensive government action to address the problems of
 illegal imports, access to capital and legacy costs, and look forward to
 working with U.S. Steel and other producers to build a stronger, more
 competitive and more profitable American steel industry."
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X52718017
 
     CONTACT:  John Duray of the United Steelworkers of America, 412-562-2592.
 
 SOURCE  United Steelworkers of America

RELATED LINKS

http://www.usx.com