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Have Your Say: Obama's re-election

Nov 07, 2012 | 12:21 PM |

Tags  Obama, election, steel, spending, capex


NEW YORK — In the weeks and months leading up to Tuesday’s presidential election, metals producers and distributors said they were putting a cap on capital spending as they awaited more clarity on the future of the regulatory climate.

Reliance Steel & Aluminum Co., for example, reigned in spending for 2012 by an estimated $75 million to $100 million, an executive told AMM, a trend that chairman and chief executive officer David Hannah largely attributed to uncertainty on such issues as taxes and the regulatory environment.

"We don’t know what the rules are going to be," Hannah said at an industry event in late October (amm.com, Oct. 31).

Others agreed, noting that they were delaying investments or large inventory builds until they had more foresight into the results of the presidential race.

“I think getting the election behind us is important to know where we stand,” one steel plate buyer told AMM during the final days of the campaigns (amm.com, Oct. 25).

But now that President Obama has been named the victor in Tuesday’s election, this “wait-and-see” mentality adopted by the metals sector in recent months may be coming to a close. But at what pace and to what degree remains to be seen.


Join the discussion:
how is your company responding to the news of Obama’s successful White House bid? How will your spending and investment plans change as a result? Was the election as big a factor as some said in recent decision-making, or was it just a convenient excuse to stop buying at a time of lackluster demand?

To have your say and participate in the discussion on amm.com, post your comments below. E-mail addresses will be kept confidential, but we encourage you to use your name if you feel comfortable. All comments are subject to editorial review and will be approved at the discretion of the editor.




Latest Pricing Trends Year Over Year

Poll

After witnessing the pace of steel plant idlings and worker layoffs during the first half of the year, what is your view of the second half of 2015? (choose one)

No matter what else happens, layoffs and shutdowns, etc., have nearly or essentially stopped for the year.
The environment will change little and the pace of layoffs will continue at a similar rate as the first half of 2015.
The environment will change little yet the pace of layoffs will begin to slow slightly to moderately.
The environment will change little yet the pace of layoffs could exceed the rate seen thus far.
The environment will improve slightly to moderately yet hiring and plant restarts will not resume this year.
The environment will improve slightly to moderately, with hiring and plant restarts commencing.
The environment will improve dramatically yet hiring and plant restarts will still be negligible in comparison.
The environment will improve dramatically yet hiring and plant restarts will only be slight to moderate.
The environment will improve dramatically, with hiring and plant restarts occurring nearly in tandem.


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