Business first, shareholders last: Coslov

Jan 17, 2013 | 05:46 PM | Lisa Gordon

Tags  Michael Coslov, Tube City IMS, TMS International, shredders, Adam Weitsman, scrap, ferrous scrap, Lisa Gordon

PITTSBURGH — Publicly held metals recyclers must focus on their business first and foremost and not on pleasing shareholders, I. Michael Coslov, retired chairman and chief executive officer of Tube City IMS LLC and TMS International Corp., said.

"My business motto is four things: Take care of your people, take care of your equipment, take care of your customer and take care of the stakeholder," Coslov told AMM, noting that the shareholder should be the last concern, because ensuring that the first three priorities are in good order will ultimately result in a profitable company.

"People make a mistake and take care of (the) stakeholder first. If you take care of (the) stakeholder first, you are going to end up in the crapper," Coslov added.....




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