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  • Reliance suspends guidance despite jump in 3d-qtr. net Oct 16, 2008

    The global financial meltdown hasn’t had a major impact on Reliance Steel & Aluminum Co.’s business, but the nationwide service center chain, nevertheless, won’t give a fourth-quarter earnings outlook until the economic signs become clearer.

  • Lear scaling back costs to cope with poor market conditions Oct 15, 2008

    Auto parts supplier Lear Corp. announced plans Wednesday to cut procurement, manufacturing, engineering and logistics costs in a bid to save $150 million over the next year.

  • Metals shares take beating on mounting recession fears Oct 15, 2008

    Metals companies’ shares plummeted Wednesday as broader indices fell amid disappointing retail sales results and anxiety over a potentially deep and protracted recession.

  • Metals shares take beating as recession fears mount Oct 15, 2008

    Metals companies’ shares plummeted Wednesday as broader indices fell amid disappointing retail sales results and anxiety over a potentially deep and protracted recession.

  • CAW in tentative labor deal with St. Lawrence Seaway Oct 14, 2008

    Potential labor issues threatening the St. Lawrence Seaway have been averted.

  • Outsourcing chief wedge in Boeing-IAM labor talks Oct 14, 2008

    Barely a day after resuming, negotiations between Boeing Co. and the International Association of Machinists and Aerospace Workers (IAM) broke off again as outsourcing remains the most contentious issue.

  • St. Lawrence Seaway reaches tentative labor deal Oct 14, 2008

    Potential labor issues threatening the St. Lawrence Seaway have been averted.

  • Daimler sets N. American plant closures, job cuts Oct 14, 2008

    The bloodbath that is engulfing the North American vehicle market isn’t just confined to light trucks and cars—or to American manufacturers.

  • St. Lawrence Seaway stays open as CAW talks continue Oct 13, 2008

    Contract talks are continuing between St. Lawrence Seaway Management Corp. and the union representing 445 workers operating the Canadian locks along the St. Lawrence Seaway.

  • St. Lawrence Seaway stays open as CAW talks continue Oct 13, 2008

    Contract talks are continuing between St. Lawrence Seaway Management Corp. and the union representing 445 workers operating the Canadian locks along the St. Lawrence Seaway.

  • Bri-Chem secures credit facility Oct 13, 2008

    Bri-Chem Corp., an Acheson, Alberta-based wholesale distributor of industrial drilling fluids, steel products and services, has secured a $40-million credit facility with HSBC Bank Canada.

  • GM to shut plant earlier than planned Oct 13, 2008

    General Motors Corp. will close its truck and sport utility vehicle (SUV) plant in Janesville, Wis., on Dec. 23—months earlier than initially expected—in the wake of dwindling sales.

  • MSC left with stocks amid auto slump Oct 10, 2008

    The rapid drop-off in the sales of cars and light trucks has left Material Sciences Corp. (MSC) struggling to manage long lead times and high inventory levels, according to chief executive officer Clifford D. Nastas.

  • MELTING POT Codename “brick” Oct 10, 2008

    Some good news for aluminum might be coming from Apple Computer Inc., Cupertino, Calif. The company has been working on an in-house manufacturing process to shape MacBook frames out of a single piece of aluminum, reported 9to5Mac, a computer rumor Web site.

  • J.D. Power warns of auto industry’s ‘outright collapse’ in ‘09 Oct 10, 2008

    This year is shaping up to be a bloodbath for the auto industry, and next year could bring “an outright collapse,” a leading consulting firm said Thursday in one of the bleakest warnings yet for the beleaguered sector.

  • Commodities face demand drop S&P Oct 09, 2008

    Standard & Poor’s Ratings Service (S&P), New York, expects weak demand for raw materials from U.S. domestic end-markets such as autos and commercial construction and a slowing global economy to reduce prices for a broad range of commodities.

  • Crisis puts US trade case vs. China on slow burn Oct 09, 2008

    U.S. trade officials are still weighing a major trade case challenging China’s subsidies and export restrictions on raw materials used in steelmaking, including metallurgical coke, but the global financial crisis has put the issue on the back burner—at least temporarily, industry sources said.

  • Bailout could be as slow as auto sales Oct 09, 2008

    There might be a few more hurdles to clear before money starts flowing to automakers and their suppliers under the newly enacted $25-billion federal loan program designed to help bail out the auto industry from one of the sharpest downturns in its history.

  • Goldman upgrades CMC amid downturn Oct 09, 2008

    Although “steel buying globally has almost ground to a halt and prices are coming down hard and fast,” one steel equities analyst Thursday upgraded Commercial Metals Co. (CMC) to a “buy” rating from “neutral.”

  • Commodities face weaker demand, lower prices S&P Oct 09, 2008

    Standard & Poor’s Ratings Service (S&P), New York, expects weak demand for raw materials from U.S. domestic end-markets such as autos and commercial construction and a slowing global economy to reduce prices for a broad range of commodities.

  • Trader admits wire fraud in aluminum kickback case Oct 08, 2008

    A trader accused in an alleged kickback scheme involving sales of aluminum belonging to General Motors Corp., Detroit, reversed course Wednesday and agreed to plead guilty to one charge.

  • New coalition seeking economic fix Oct 07, 2008

    A wide cross-section of steel producers, metals trade associations and other labor and business groups have formed a new coalition that will press for sweeping changes in trade, monetary and energy policies in the next administration and Congress.

  • Precision Castparts adding FTI to aero fastener stable Oct 07, 2008

    Precision Castparts Corp. (PCC) will add to its list of aerospace fastener holdings with a deal to acquire Fatigue Technology Inc. (FTI), Seattle.

  • USW blames financial crisis on White House, Wall Street Oct 07, 2008

    The United Steelworkers union is laying the blame for the current financial crisis on the White House and Wall Street.

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