[News] British steel

[Mellotron]

Still might be a rescue possible if we leave soon

Maybe if I KEEP SLAMMING MY HEAD into a BRICK WALL, I'll start having LESS brain damage?

 

[SollysLeftFoot]

Maybe if I KEEP slamming my head into a brick wall, I'll start having LESS brain damage?

It's the rest of the post that makes it better..

 

[clapham_gull]

Still might be a rescue possible if we leave soon,and no longer stick to EU regulations on industrial financial subsidies.As long as the furnaces are kept running,there's still hope.If we had ignored the climate change induced regulations, like the Germans do with their coal-fired power stations,it might have gone better.

 

[graz126]

I work at British Steel, Scunthorpe. This is my locker.

 

[Ludensian Gull]

It will be interesting to see how this region votes tomorrow in the Euro elections on the back of the comments from British Steel about Brexit. I suspect it will be another 68% vote for the leave parties, mainly for The Brexit Party. The only saving grace is when they do lose their jobs there will be plenty of work picking fruit and veg in nearby Boston as the EU workers are leaving in droves.

It's a bloody long way from Scunthorpe to Boston !

 

[Pretty Plnk Fairy]

It's a bloody long way from Scunthorpe to Boston !

one word
Dunkirk spirit

Regards
DR

 

[SollysLeftFoot]

I work at British Steel, Scunthorpe. This is my locker. View attachment 110043

I’m sorry that you’ve been let down by senior management.

 

[portslade seagull]

It will be interesting to see how this region votes tomorrow in the Euro elections on the back of the comments from British Steel about Brexit. I suspect it will be another 68% vote for the leave parties, mainly for The Brexit Party. The only saving grace is when they do lose their jobs there will be plenty of work picking fruit and veg in nearby Boston as the EU workers are leaving in droves.

Tosh, so it wasn't anything to do with cheaper imports then. Just blame Brexit to match your agenda

 

[Thunder Bolt]

[tweet]1131149585769013248[/tweet]

 

[Raleigh Chopper]

The export of steel is one of the major commodities along with oil, gas, cars, minerals etc.
When we do leave this is another export deal we cannot do, in fact it probably means we are going to import a hell of a lot more steel.
Maybe we can do a deal though, you send us your steel and we will send you our....er....um.

 

[clapham_gull]

[tweet]1131149585769013248[/tweet]

No that can't be right. It's that bloody EU banning us from bailing it isn't it ?

STATE AID MEANS STATE AID

Wibble wibble...

 

[nicko31]

This hasn't aged well.

[tweet]716184709496180736[/tweet]

Thanks, just passed that onto Led by Donkey's...

 

[Thunder Bolt]

Thanks, just passed that onto Led by Donkey's...

I think a few thousand have already done that on Twitter today, and the Andrew Leadsom one from 2013.

 

[Thunder Bolt]

No that can't be right. It's that bloody EU banning us from bailing it isn't it ?

STATE AID MEANS STATE AID

Wibble wibble...

Never mind being part of Europe, we're going to be 51st state under the Trump bot aren't we?

 

[daveinplzen]

Im sure ****wit leavers will point to a 'positive'

 

[graz126]

I’m sorry that you’ve been let down by senior management.

Dunno about that yet. They have constantly stated the delaying of a Brexit decision has created the uncertainty in the market. When the government said the delay until the next Brexit decision was going to be so long as it is we knew we would struggle as there had been big cutbacks in place a while now with the previous delay. The thing is all those that voted out never realised it would take 3 years before anything happened. Don't really know who is to blame but seems to me its Greybull. Scunthorpe has made profit each of the 3 years since taking over from Tata. From what I see is Greybull bought us for £1 yet have been taking millions out each year. Buying for a single pound and taking profits seems like something some very bad owners did to a football club I know back in the 90s. I don't know tbh and don't really care. We are where we are. We have also been told we will continue to be paid and keep all our terms and conditions ie holidays, pensions etc until a buyer or nationalization takes place, Nationalization is looking unlikely atm. But rumours are 3 businesses are interested in buying us out. Tata, Liberty or some Spanish company I don't know the name of. Tata sold us last time due to issues with pensions and other stuff. These issues have been sorted now from what I hear. So the company is sort of how they wanted it in the 1st place.

 

[SollysLeftFoot]

Tosh, so it wasn't anything to do with cheaper imports then. Just blame Brexit to match your agenda

Much easier to ignore my explanatory post. But yes Brexit has had an impact.

 

[SollysLeftFoot]

Dunno about that yet. They have constantly stated the delaying of a Brexit decision has created the uncertainty in the market. When the government said the delay until the next Brexit decision was going to be so long as it is we knew we would struggle as there had been big cutbacks in place a while now with the previous delay. The thing is all those that voted out never realised it would take 3 years before anything happened. Don't really know who is to blame but seems to me its Greybull. Scunthorpe has made profit each of the 3 years since taking over from Tata. From what I see is Greybull bought us for £1 yet have been taking millions out each year. Buying for a single pound and taking profits seems like something some very bad owners did to a football club I know back in the 90s. I don't know tbh and don't really care. We are where we are. We have also been told we will continue to be paid and keep all our terms and conditions ie holidays, pensions etc until a buyer or nationalization takes place, Nationalization is looking unlikely atm. But rumours are 3 businesses are interested in buying us out. Tata, Liberty or some Spanish company I don't know the name of. Tata sold us last time due to issues with pensions and other stuff. These issues have been sorted now from what I hear. So the company is sort of how they wanted it in the 1st place.

I worked in the treasury on Brigg road, senior management have much much of a blame than you think. Greybull haven’t taken a penny, only accrued the charges. Media’s not too reliable on the reporting.

PM me if you want to discuss it in a little more details and I’ll mention a few names you may recognise. Paul M***** has a lot to answer for before he ‘retired’.

 

[Lower West Stander]

The moment Greybull became the marginal buyers you know the business is in deep trouble. Corus sold it for a reason.....

The issue here is not whether the business is profitable, it’s whether it generates cash. And from what I can gather, forward selling carbon credits was a short term sticking plaster.

Companies live or die by cash flow. There are many different ways of defining “profit” but only one bottom line cash flow number.


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[graz126]

I worked in the treasury on Brigg road, senior management have much much of a blame than you think. Greybull haven’t taken a penny, only accrued the charges. Media’s not too reliable on the reporting.

PM me if you want to discuss it in a little more details and I’ll mention a few names you may recognise. Paul M***** has a lot to answer for before he ‘retired’.

Tbh there ain't really anything can be done from my level. Am only an electrician. Am also quite lucky that I don't live in Scunthorpe where it will pinch the hardest. I know the knock on effect will spread to Doncaster and to a degree the rest of the UK. Also I have only been here 2 and a half years only since this January on the books. I should be able to drop back into contracting though I did close my limited company when I started here. The 3 buyers I previously mentioned don't sound as interested as we were led to believe. Liberty are only interested in the rod mill from what I gather. For now though we are still carrying on business as usual and keeping fingers cross on a new backer.

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