Serbia buys U.S. Steel plant; Price: $1

I hope Obama & Co. are listening to this story !!

Serbia has purchased a steel plant from U.S. Steel in an effort to actually save 5400 jobs there !!

They even plan to restructure and resell the plant !!

(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.

Steel Plant in Serbia


A little sales savy could turn a profit I think !

maybe even add some new jobs !!

Ugh, I had the perfect picture for this thread, it was where Bart walks into the auction to buy some property and sees no one ponying up any cash for an unused warehouse. He shouts "A buck!" and wins. You kow what I speak of, but this is life imitating art that seemed so nonsensical it could never be true.

I just wanted to post this sentence saying that picture and go back to looking for it; I will be back with it. This topic interests me, thought it might use some humor.




Now that I go that out of our way, I kinda see some parallel where the steel industry in the USA isn't as precarious as the episode would have you believe, but I could see a Milhouse standing there kinda confused about what to do when his new toy collapses from its inability to stand on its own.

Don't get me wrong, I don't think the Serbians are children, I'm sure they're competant when it comes to things like this.

Everyone roll your pants into your socks anyways.

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.

So thats obamas plan to save american jobs. Save jobs in serbia? You got to be kidding me!

This is about the government of Serbia doing this for a plant in Serbia !!

Not Obama !

Obama should watch though.

A $1 deal to save jobs is better than a loan to a comapny that goes bankrupt here in the U.S. !!
(like Solyndra and a few others !)

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.

The serbs said they might have a Russian buyer later.

Originally posted by LonelyGuy
So thats obamas plan to save american jobs. Save jobs in serbia? You got to be kidding me!

Do you even bother to read things? Or do you think Obama is president of Serbia?

As for the OP are you suggesting the US buy failing companies? Sadly I do not think the Serbs will be able to sell it because whomever buys will have the same problem, losing money. To get a buyer they will have to allow that buyer to cut jobs to make a profit and that would ruin the entire point of it all. I wish it was that easy to fix problems like this.

reply to post by MrSpad

As for the OP are you suggesting the US buy failing companies?

It might be better than loaning money to companies going bankrupt.

Those solar companies are the example.

A change of business plan can make things work sometimes.

But that's what private investment is supposed to do.

The U.S. Government programs may have been scams.