It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
(AP) BELGRADE, Serbia - The Serbian government on Tuesday bought a loss-making plant from U.S. Steel for the symbolic sum of $1, hoping to avoid its closure and keep 5,400 workers employed at a time of widespread joblessness and economic hardship in the Balkan country.
Prime Minister Mirko Cvetkovic said the deal was a "forced move" caused by the global economic crisis and that the government aims to restructure and resell the plant....
Cvetkovic said the government will now appoint a new general manager and seek to resell the plant. He suggested informal contacts have been made with potential buyers in Ukraine and Russia.
Originally posted by nightbringr
reply to post by xuenchen
The obvious risk here is that even the government, which is usually the least efficient guy on the block will not be able to make this profitable either. This would only waste more taxpayer money.
Originally posted by LonelyGuy
So thats obamas plan to save american jobs. Save jobs in serbia? You got to be kidding me!
As for the OP are you suggesting the US buy failing companies?