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Steelworkers from Ohio, Pennsylvania,
Indiana and Illinois spill into the street in front of the federal
courthouse in Youngstown on the first day of LTV's bankruptcy hearing.
Photo by Karen Schaefer
90.3 WCPN®
LTV Steel Story Archive
Environmental
Concerns For LTV Laid To Rest
During the bidding process for LTV Steel, city and Congressional leaders
expressed concerns about potential environmental liabilities. But those
worries have now been laid to rest, as 90.3 WCPN®'s Karen Schaefer
reports.
LTV Assets
Up For Auction
The assets of LTV Steel are going on the auction block. Bids for the company's
property will open on February 27. That's one day before the Cleveland
works is due to be shut down for good. The only hope for the plant is
a new owner who is willing to fire up the furnaces and start making steel
again. But how attractive are the LTV facilities? It depends who you ask.
90.3 WCPN®'s Mike West has the story.
Getting
Back On Their Feet:
Retraining LTV Employees for the Future
The idling of LTV Steel in December put more than 3,000 people in the
Cleveland area out of work. That's a major blow to a city like Cleveland,
which was already trying to cope with a regional manufacturing recession
even before the national economic downturn became official. Today, the
reality of the LTV situation has sunken in for many former employees,
and they're beginning to look toward the future. Some local educational
institutions have resolved to help. 90.3 WCPN®'s Bill Rice reports.
Interview with
Mark Tomasch, Senior Director of Corporate Communications, LTV Corporation
 On
December 14th, Mark Tomasch, Senior Director of Corporate Communications
at LTV, agreed to talk at length about the events of the past year that
led to LTV's closing. With his own job expected to terminate with the
final closing of LTV, Tomasch gives both the company's and his own insight
on what transpired over the past year. 90.3 WCPN®'s Bill Rice has
the interview.
Steel
Mill Blues
Cleveland's LTV Steel plant sits idle for a second week. The last twelve
months have seen the company enter bankruptcy, reorganize, lay off some
of its workers - and finally, all of its workers. It's been a struggle
to keep the 20th century institution alive. Now it looks like the plant
may be a lost cause. After all the legalities of the last year, we thought
it time to briefly retrace some of that history and hear some impressions
from some of those involved. 90.3 WCPN®'s Bill Rice prepared this
extended report. Aired December 18, 2001.
New LTV Boss
There's a new chairman and chief executive officers for LTV Corporation,
Glenn Moran. He will suceed William Bricker who resigned under fire for
his handling of the company's steel operation. LTV was the nation's third
largest steelmaker before going through its bankruptcy court approved
efforts to close its steel mills in Cleveland, Ohio and in two other states.
LTV today announced the election of Glenn Moran and N. David Bleisch to
the board of the directors and accepted the resignations of John Jacob
and Edward Joullian. Moran will take over as chairman and CEO. The announcement
was reported on PR Newswire. John Turner, who is the COO at LTV, was named
to the position of chair and chief executive officer of the Copperweld
Corporation, a wholly-owned subsidiary of LTV. He reportedly will focus
on finding a buyer for Copperweld. Aired December 13, 2001.
Uncertain
Future for LTV Retirees
The end of LTV Steel would mean the loss of 3,200 jobs. But a greater
number of people depend on the company for retirement checks and company
sponsored medical insurance. 90.3 WCPN®'s Mike West looks into the
options of former steel workers who are facing an uncertain future. Aired
December 12, 2001.
Anxious steelworkers cluster around
Congressman Dennis Kucinich (center) and Congressman Steve LaTourette
(left) to hear how the hearing is proceeding. Kucinich & LaTourette
have joined forces to challenge LTV's intention to close the Cleveland
works.
Photo by Karen Schaefer
LTV Layoffs
Layoffs have begun at LTV’s Cleveland Works and two other steel mills
after a U.S. bankruptcy judge signed an order allowing the company to
cease steel-making operations. Close to 2,000 steelworkers have been laid
off at LTV’s Cleveland mill, with another 600 expected by Wednesday, according
to Sherman Crowder of United Steelworkers of America Local 1098. Furnaces
will be kept operational for about twelve weeks, with the hope that a
buyer will come forward. LTV executives say there’s little hope that one
will. But Congressman Dennis Kucinich, who has led the charge to preserve
the mill, says it isn’t over yet.
Time is of the essence, since once furnaces
are shut down completely it costs millions to restart them. Kucinich is
pursuing a $250 million federally guaranteed loan and other measures he
says could attract a potential buyer. In Cleveland, Bill Rice, 90.3 WCPN®
News. Aired December 11, 2001.
As workers and journalists hear the
latest news of the hearing, one man lifts a sign of his discontent.
The United Steelworkers Union is trying to protect the healthcare
and pension benefits of workers and retirees.
Photo by Karen Schaefer
LTV Agreement
Union officials, lenders and creditors have reached an agreement with
LTV Steel that would stop steelmaking operations. Workers face massive
layoffs next week when LTV ceases production. But the deal struck yesterday
keeps the mills in so-called "hot idle" status, which means production
could be resumed relatively easily in the event that a buyer is found.
LTV had wanted to shut the plants down completely and sell off the assets
piecemeal. Congressman Dennis Kucinich has led the effort to save them.
Kucinich hopes the deal will buy enough time
to secure a $250 million federally guaranteed loan considered crucial
to re-opening the mills. Bankruptcy Judge William Bodoh is expected to
approve the agreement today. The parties return again to court in two
weeks.
LTV, its creditors, and its steelworker staff
have reached an agreeement that's likely to halt steel production in Cleveland,
but which leaves hope the company's works may fire up again. The deal
calls for LTV's remaining plant to be run on hot idle at least until February.
In the meantime, the company's fortunes might change, if a federal loan
guarantee comes through. Bob Rankin, a contract coordinator with the United
Steel Workers of America, says all that's left to do is get a bankruptcy
judge's approval.
The agreement is a mixed bag for LTV's 3,000+
members. Massive layoffs are expected this weekend, as steel operations
are phased out. Workers' benefits and pensions are secure until December
19th, when a contract hearing will be held. In Cleveland, Bill Rice, 90.3
WCPN® News. Aired December 10, 2001.
Union leaders keep an eye on crowds
of steelworkers who
congregate outside the courthouse, periodically leading chants of
"Let's make steel!"
Photo by Karen Schaefer
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