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Print This StoryKucinich Wants LTV Top Management Fired
Thousands Of Employees Could Lose Jobs
POSTED: 4:57 pm EST November 20,
2001
UPDATED: 5:04 pm EST November 21,
2001
CLEVELAND -- A bankrupcy judge in Youngstown is being asked to fire the top management at LTV Steel. The company said it's all over, but local politicians are saying not so fast. Congressman Dennis Kucinich traveled to Youngstown this morning to ask the judge to fire the companys top brass and appoint a trustee to run the company. The company said Tuesday it planned to shut down its integrated steel operations. Thousands of workers were shocked when the company said that it must end all steel operations.
The Cleveland-based steelmaker is asking the U.S. Bankruptcy Court for permission to halt its integrated steel operations and to get ready to sell them.The company told the court Tuesday that it no longer has enough money to operate its integrated steel facilities. If the company does shut down, 7,500 steel workers would lose their jobs, including about 3,800 employees locally. After asking for an extension a couple months ago to pay back its federal loans, Tuesday's announcement came out of nowhere.LTV's steel mills in Cleveland and Indiana Harbor would be affected by the plan.The company said that that it wants permission to reject labor agreements and take other actions necessary to idle the mills and prepare them for sale.LTV filed for bankruptcy court protection from creditors on Dec. 29, 2000. It blamed competition from cheap imports and a sluggish economy.The company's west-side plant closed officially a few weeks ago, NewsChannel5 reported. U.S. Rep. Dennis Kucinich, who has fought with LTV workers and union members to keep the plant open, said that he is extremely upset by the news. About 52,000 employees and retirees now wonder about their retirement benefits and what the closing will mean for their futures. The company wants implement an asset protection plan and reject labor agreements with the union. The proposal to halt operations excludes the company's LTV Copperweld unit.LTV is the nation's third-largest integrated steelmaker, operating in 17 states, Canada and Britain.
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Previous Stories:
- November 12, 2001: LTV Workers Discuss Early Retirement Options
- November 7, 2001: LTV West-Side Plant Closed
- September 28, 2001: Banks Seek Federal Guarantee For LTV Loan
- August 15, 2001: City Gives LTV Tax Breaks, $4.5 Million Loan
- July 9, 2001: Proposed Agreement Could Save LTV
- July 8, 2001: LTV, Union Have Plan To Keep Plant Open
- June 19, 2001: LTV Workers Meet To Discuss Benefits
- June 16, 2001: LTV Plant Closes
- June 12, 2001: LTV Retirees Worried About Pensions
- June 12, 2001: LTV Trying To Break Union Agreement
- June 10, 2001: Steelworkers Get Fired Through The Mail
- June 5, 2001: Steelworkers Receive Good News
- May 25, 2001: LTV Workers Face Contract Concessions
- May 8, 2001: LTV Negotiations Could Finish This Week
- April 30, 2001: LTV, Union Negotiating To Strike Deal
- April 12, 2001: LTV Workers Concerned About Future
- April 11, 2001: 1,100 To Be Laid Off At LTV Steel
- April 10, 2001: LTV Shows Restructuring Plan By Videotape
- March 19, 2001: LTV Steel To Present Financing Plan
- March 16, 2001: LTV To Lay Off More Workers
- March 6, 2001: LTV Strikes A Deal
- January 16, 2001: Governor Takes Tour Of LTV Steel
- January 13, 2001: Some LTV Retirees Will Go Unpaid
- January 11, 2001: Cleveland Workers Have Job Options
- January 11, 2001: Worried LTV Worker Preparing For Worst
- January 9, 2001: Laid-Off LTV Workers Worry About Future
- January 7, 2001: Taft To Meet With LTV Officials
- January 6, 2001: Banks Will Benefit If LTV Goes Bankrupt
- January 4, 2001: LTV Retirees Watching Developments Closely
- January 3, 2001: 1,000 LTV Workers Lose Jobs
- January 3, 2001: LTV Retirees Worry About Pensions
- January 2, 2001: Layoffs May Be On Way At LTV Steel
- January 1, 2001: 2001: Year Of Uncertainty For Steelworkers
- December 31, 2000: Steelworkers Face Uncertain Future
- December 30, 2000: Local Bank Won't Cash LTV Employees' Paychecks
- December 29, 2000: LTV To Stay Open For Time Being
- December 29, 2000: 5,000 Area Workers Could Lose Jobs
- December 28, 2000: Letter From LTV To Community Leaders
- December 22, 2000: Congressman Forming Coalition To Help LTV
- April 19, 2000: LTV Steel Plant Closes Its Doors
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