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11-03-2008, 11:41 AM
I hear alot on the news about how bad the economy is, but when i look around in Eastern Ky and Southern WV i just don't see it. I just sold my house and made a profit of 13k on it. I bought another house and receieved an interest rate under 5%. I heard an ad for Massie Coal on the radio the other day looking for employees to start off at 31 bucks an hour. I see new businesses popping up all over the place from Louisa to Pburg. So really how bad is our local economy.
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11-03-2008, 11:58 AM
Matman Wrote:I hear alot on the news about how bad the economy is, but when i look around in Eastern Ky and Southern WV i just don't see it. I just sold my house and made a profit of 13k on it. I bought another house and receieved an interest rate under 5%. I heard an ad for Massie Coal on the radio the other day looking for employees to start off at 31 bucks an hour. I see new businesses popping up all over the place from Louisa to Pburg. So really how bad is our local economy.
Because local companies have benefited from big tax cuts from Bush, and it goes to show what that means in jobs. Look locally in the Russell area. AK has been hiring, CSX has been hiring alot, Marathon has also been hiring and all 2 are expanding. KDMC is expanding largely, although that has nothing to do with tax cuts, but has more to do with a growing economy. We have a new steel mill going in across the river 1400 new well paying jobs. Its hard to imagine what it would be like if McCain got in and dropped the tax rate even more. More and more companies would come in. Also, toyota was going to put a plant in, but we have morons in the local govt around here, who wouldn't give them the tax incentives for nearly 2000 more jobs.
What you will see those is a scale back if Obama comes in and lets the bush tax cuts expire, and then ups their taxes even more.
11-03-2008, 02:05 PM
Beetle01 Wrote:Because local companies have benefited from big tax cuts from Bush, and it goes to show what that means in jobs. Look locally in the Russell area. AK has been hiring, CSX has been hiring alot, Marathon has also been hiring and all 2 are expanding. KDMC is expanding largely, although that has nothing to do with tax cuts, but has more to do with a growing economy. We have a new steel mill going in across the river 1400 new well paying jobs. Its hard to imagine what it would be like if McCain got in and dropped the tax rate even more. More and more companies would come in. Also, toyota was going to put a plant in, but we have morons in the local govt around here, who wouldn't give them the tax incentives for nearly 2000 more jobs.
What you will see those is a scale back if Obama comes in and lets the bush tax cuts expire, and then ups their taxes even more.
Baby Boomers are retiring like crazy from AK and CSX. Come on Beetle.
Don't act like its job growth because it isn't.
They aren't even making Steel right now at AK. As long as there's coal in Eastern Ky there will be a R/R yard in Raceland/Russell.
11-03-2008, 02:55 PM
DevilsWin Wrote:Baby Boomers are retiring like crazy from AK and CSX. Come on Beetle.
Don't act like its job growth because it isn't.
They aren't even making Steel right now at AK. As long as there's coal in Eastern Ky there will be a R/R yard in Raceland/Russell.
Lots of baby boomers are retiring, but they have also brought in new jobs due to the increase in RR traffic. Of course that won't be there for long because Obama is going to bankrupt the coal industry. So a vote for Obama is going to absoloutely cripple NEKY. CSX will be gone and so will AK. They will probably put off on the steel mill in hanging rock. Because they were only putting that in because of the cheaper taxes, now that incentive will be gone.
Ever seen that show dead zone? That's what it will be like around here. that's why the day after I graduate, I'm moving elsewhere.
11-03-2008, 03:01 PM
Beetle01 Wrote:Lots of baby boomers are retiring, but they have also brought in new jobs due to the increase in RR traffic. Of course that won't be there for long because Obama is going to bankrupt the coal industry. So a vote for Obama is going to absoloutely cripple NEKY. CSX will be gone and so will AK. They will probably put off on the steel mill in hanging rock. Because they were only putting that in because of the cheaper taxes, now that incentive will be gone.LOL you need to lay off the Chantix or something. The outlook is not that bleak.
Ever seen that show dead zone? That's what it will be like around here. that's why the day after I graduate, I'm moving elsewhere.
11-05-2008, 12:40 PM
Yeah, and his tax hike on earnings has already been cut from $250,000 to $120,000. By the time he takes office, it will be $30,000. Although it will include me, I can't wait to hear the people who voted for him to start complaning about the tax hikes.
11-05-2008, 02:20 PM
Beetle01 Wrote:Not to mention we are going to be paying about 40% more for electricy in about 2 years.It amazes me how a guy as smart as you didn't get an academic Scholarship to Harvard or MIT. Simply Amazing. Lemme guess it was Affirmative Action!
Man I'm so glad Obama won, I didn't think we paid enough for electricity, we should definetly be paying more.
11-05-2008, 02:33 PM
DevilsWin Wrote:It amazes me how a guy as smart as you didn't get an academic Scholarship to Harvard or MIT. Simply Amazing. Lemme guess it was Affirmative Action!
Why don't you do a little research yourself and look at every other country in the world that has put in the policies Obama is going to put in? Didn't Germany and France both just vote out their socialist leaders because it put their countries in the dumps? The answer is yes.
They voted in a socialist party that did exactly what Obama plans. Upped the taxes on the rich and business's, cut the taxes on the middle class and poor. Germany went from being one of the strongest economies in the world, to having a near 15% unemployment rate, even Mercedes shut down two factories for the first time in history.
Yet we just elected a man who is going to put the same policies on an already fragile economy.
You think AK, Marathon, or CSX are going to create more jobs when they will be paying a near 10% higher tax rate in 2 years, if not more.
11-05-2008, 02:35 PM
Beetle01 Wrote:Why don't you do a little research yourself and look at every other country in the world that has put in the policies Obama is going to put in? Didn't Germany and France both just vote out their socialist leaders because it put their countries in the dumps? The answer is yes.Wow you're so Smart!
They voted in a socialist party that did exactly what Obama plans. Upped the taxes on the rich and business's, cut the taxes on the middle class and poor. Germany went from being one of the strongest economies in the world, to having a near 15% unemployment rate, even Mercedes shut down two factories for the first time in history.
Yet we just elected a man who is going to put the same policies on an already fragile economy.
You think AK, Marathon, or CSX are going to create more jobs when they will be paying a near 10% higher tax rate in 2 years, if not more.
11-12-2008, 03:00 PM
Well, all you geniuses seemed to miss this one coming down the pike. AK Steel is closing it's door indefinitely. 700 jobs lost!
Thanks Mitch McConnell!
Thanks Geoff Davis!
Thanks George W Bush!
http://www.dailyindependent.com/local/lo...32626.html
Thanks Mitch McConnell!
Thanks Geoff Davis!
Thanks George W Bush!
http://www.dailyindependent.com/local/lo...32626.html
11-12-2008, 03:06 PM
Beetle01 Wrote:Because local companies have benefited from big tax cuts from Bush, and it goes to show what that means in jobs. Look locally in the Russell area. AK has been hiring, CSX has been hiring alot, Marathon has also been hiring and all 2 are expanding. KDMC is expanding largely, although that has nothing to do with tax cuts, but has more to do with a growing economy. We have a new steel mill going in across the river 1400 new well paying jobs. Its hard to imagine what it would be like if McCain got in and dropped the tax rate even more. More and more companies would come in. Also, toyota was going to put a plant in, but we have morons in the local govt around here, who wouldn't give them the tax incentives for nearly 2000 more jobs.This is one of my favorites.:lmao:
What you will see those is a scale back if Obama comes in and lets the bush tax cuts expire, and then ups their taxes even more.
11-12-2008, 03:06 PM
DevilsWin Wrote:Do their policies not effect the business of GM?
Nope GM's terrible business practices are what affected GM. Quit trying to blame everything on Repubs. Dems are just as responsible for this economic mess as Repubs.
The dems have had congress for 2 years. Congress has more power economically than the President.
11-12-2008, 03:09 PM
Beetle01 Wrote:Nope GM's terrible business practices are what affected GM. Quit trying to blame everything on Repubs. Dems are just as responsible for this economic mess as Repubs.Its all about the SUVs man!
The dems have had congress for 2 years. Congress has more power economically than the President.
Bush gave GM a break so they could make more SUVs and we would guzzle more gas and his oil buddies in Texas and Saudi Arabia reep the rewards.
The plan has backfired and now we see the casualties. AK Steel
11-12-2008, 03:14 PM
DevilsWin Wrote:Its all about the SUVs man!
Bush gave GM a break so they could make more SUVs and we would guzzle more gas and his oil buddies in Texas and Saudi Arabia reep the rewards.
The plan has backfired and now we see the casualties. AK Steel
LOL yeah you're right. They got tax breaks so they could make more SUV's that noone was buying so that they could go out of business. Makes perfect since man. You need to lay off the stuff for awhile man.
11-12-2008, 03:25 PM
Beetle01 Wrote:LOL yeah you're right. They got tax breaks so they could make more SUV's that noone was buying so that they could go out of business. Makes perfect since man. You need to lay off the stuff for awhile man.People were buying them until gas went to $3.50 a gallon.
11-12-2008, 03:31 PM
DevilsWin Wrote:Dont be suprised when it all comes to pass and GM along with AK is gone forever.
I doubt AK will be gone forever.
GM hoepfully will go down and break up into smaller groups. Then AK will have its business back.
Most of these major motor companies need to be broke down into smaller groups. As does the oil companies. Marathon is getting ready to split into 3 divisions itself.
The system needs purged and these enormous companies need to be broke up. Eventually you will see the mobile phone companies start having problems, as they are becoming to big. Think of how many different internet and mobile phone companies there used to be. Then the biggest ones just started buying up the competition. Same for the oil companies and car companies. Banks and investment firms also.
11-12-2008, 03:35 PM
Beetle01 Wrote:I doubt AK will be gone forever.What trends have you noticed to lead you to this conclusion?
GM hoepfully will go down and break up into smaller groups. Then AK will have its business back.
Most of these major motor companies need to be broke down into smaller groups. As does the oil companies. Marathon is getting ready to split into 3 divisions itself.
The system needs purged and these enormous companies need to be broke up. Eventually you will see the mobile phone companies start having problems, as they are becoming to big. Think of how many different internet and mobile phone companies there used to be. Then the biggest ones just started buying up the competition. Same for the oil companies and car companies. Banks and investment firms also.
All my life I've seen that steel mill get smaller and smaller.
11-12-2008, 11:23 PM
From the view of one of those AK employees effected, I will offer you guys my point of view on this.
The current administration in my opinion is greatly responsible for the layoffs at AK. AK steels management is just as responsible. GM is a client but Toyota is where the bread is buttered.
AK has mismanaged its way into this mess. Its a tale of two blast furnaces. One in Ashland which is in bad shape. One in Middletown which is in worse shape. Both are on the verge of breakdown because AK steel refuses to fix them. They prefer the bandaid approach. Thing is a bandaid can't hold back a hemorage.
Right now they cannot run either furnace on a day to day basis. They either have to run or have to idle. Anything in between and they will both need rebuilt. Right now AK has orders but it is for slabs that can be made at middletown do to the width of their caster. Ashland will produce until the 19th and then bank the furnace to keep it warm. The slabs being produced in Ashland are currently being stockpiled to sale why the facilities are idle.
This is temporary but very unfortunate. I think most of the workforce will return sooner rather than later. But if I know AK they will not call everyone back. They have legal battles to fight right now concerning these layoffs.
George Bush has run this country into a deficit do to greed and government spending that has never been seen before in a republican administration.
-Pay outrageous amounts to government contractors to run a war based on economics of the wealthy and to drive up the price of oil.
-Make terrible decisions in the banking sector for high risk mortgages. (I think you can blame this on both parties)
-Our life of excess has caught up to us.
AK Steel has noone to blame but its upper management for a self inflicted wound that will cost thousands of families due to the greed and stupidity of upper management and its failure or inability to see that a market always fluctuates and having no regard for what would happen when things slowed down. During the high times they ran these facilities to excess never wanting to slow production to maintain equipment or machinery. They ran the place to death. In this case almost literally.
The current administration in my opinion is greatly responsible for the layoffs at AK. AK steels management is just as responsible. GM is a client but Toyota is where the bread is buttered.
AK has mismanaged its way into this mess. Its a tale of two blast furnaces. One in Ashland which is in bad shape. One in Middletown which is in worse shape. Both are on the verge of breakdown because AK steel refuses to fix them. They prefer the bandaid approach. Thing is a bandaid can't hold back a hemorage.
Right now they cannot run either furnace on a day to day basis. They either have to run or have to idle. Anything in between and they will both need rebuilt. Right now AK has orders but it is for slabs that can be made at middletown do to the width of their caster. Ashland will produce until the 19th and then bank the furnace to keep it warm. The slabs being produced in Ashland are currently being stockpiled to sale why the facilities are idle.
This is temporary but very unfortunate. I think most of the workforce will return sooner rather than later. But if I know AK they will not call everyone back. They have legal battles to fight right now concerning these layoffs.
George Bush has run this country into a deficit do to greed and government spending that has never been seen before in a republican administration.
-Pay outrageous amounts to government contractors to run a war based on economics of the wealthy and to drive up the price of oil.
-Make terrible decisions in the banking sector for high risk mortgages. (I think you can blame this on both parties)
-Our life of excess has caught up to us.
AK Steel has noone to blame but its upper management for a self inflicted wound that will cost thousands of families due to the greed and stupidity of upper management and its failure or inability to see that a market always fluctuates and having no regard for what would happen when things slowed down. During the high times they ran these facilities to excess never wanting to slow production to maintain equipment or machinery. They ran the place to death. In this case almost literally.
11-13-2008, 09:42 AM
Sorry to hear that you're affected FBALL, hopefully you can get back to work soon.
I agree, alot of the problems for most major companies is terrible management. Hopefully these guys will be gone or AK will get bought out by a decent company and ran the way it should be, and the employees treated fairly. Any word if this affects the mill that is supposed to be going up in Hanging Rock?
On another note, I always hear that Republicans are for big business and corporations. To me that would mean most of these companies would be raking in the dough, not going broke and on the verge of going out of business.
Now most of you will say well look at the oil companies. Yeah they have been raking in some ridiculous amounts of money. Our gas prices are up not because of them, mainly because of OPEC, China, and India. Most petroleum doesn't goto gasoline production. It goes to plastics. With the growth going on in both of those countries, their demand for plastics has gone through the roof. Thus driving up prices worldwide.
I agree, alot of the problems for most major companies is terrible management. Hopefully these guys will be gone or AK will get bought out by a decent company and ran the way it should be, and the employees treated fairly. Any word if this affects the mill that is supposed to be going up in Hanging Rock?
On another note, I always hear that Republicans are for big business and corporations. To me that would mean most of these companies would be raking in the dough, not going broke and on the verge of going out of business.
Now most of you will say well look at the oil companies. Yeah they have been raking in some ridiculous amounts of money. Our gas prices are up not because of them, mainly because of OPEC, China, and India. Most petroleum doesn't goto gasoline production. It goes to plastics. With the growth going on in both of those countries, their demand for plastics has gone through the roof. Thus driving up prices worldwide.
11-13-2008, 11:38 AM
FBALL Wrote:From the view of one of those AK employees effected, I will offer you guys my point of view on this.Thanks Fball for the input. I hope it works out for you and your familiy. My Papaw and 2 Uncles have retired from Armco and AK and my Great Grandfather was killed on the job at Armco some 70 years ago. My wife was raised on an Armco/AK steel paycheck as was about 1/3 of the people in this area.
The current administration in my opinion is greatly responsible for the layoffs at AK. AK steels management is just as responsible. GM is a client but Toyota is where the bread is buttered.
AK has mismanaged its way into this mess. Its a tale of two blast furnaces. One in Ashland which is in bad shape. One in Middletown which is in worse shape. Both are on the verge of breakdown because AK steel refuses to fix them. They prefer the bandaid approach. Thing is a bandaid can't hold back a hemorage.
Right now they cannot run either furnace on a day to day basis. They either have to run or have to idle. Anything in between and they will both need rebuilt. Right now AK has orders but it is for slabs that can be made at middletown do to the width of their caster. Ashland will produce until the 19th and then bank the furnace to keep it warm. The slabs being produced in Ashland are currently being stockpiled to sale why the facilities are idle.
This is temporary but very unfortunate. I think most of the workforce will return sooner rather than later. But if I know AK they will not call everyone back. They have legal battles to fight right now concerning these layoffs.
George Bush has run this country into a deficit do to greed and government spending that has never been seen before in a republican administration.
-Pay outrageous amounts to government contractors to run a war based on economics of the wealthy and to drive up the price of oil.
-Make terrible decisions in the banking sector for high risk mortgages. (I think you can blame this on both parties)
-Our life of excess has caught up to us.
AK Steel has noone to blame but its upper management for a self inflicted wound that will cost thousands of families due to the greed and stupidity of upper management and its failure or inability to see that a market always fluctuates and having no regard for what would happen when things slowed down. During the high times they ran these facilities to excess never wanting to slow production to maintain equipment or machinery. They ran the place to death. In this case almost literally.
I hate to see this happening and I hope my predictions don't come true, but I don't think the future looks bright across the railroad tracks.
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