WWWIIILLLBBUUUURRR STRIKES GOLD

 
LAST WEEK A NEWER  STORY 
ROLLED AHEAD
AS ROSS MOVED ON COAL COMPANY 
 UNION BENES

HERE IN STEEL 
 ROSS MAKES A QUICK 2 BILLION
 FOR HIS "GROUP"
ON A PUBLIC STEEL COMPANY  SALE

  HERES WHERE IT ALL ENDS

AFTER THE STRIP COMES THE RIP ......




==========================

 
 
 Mergers Show Steel Industry 
Is Still Worthy of Big Deals

By HEATHER TIMMONS

  LONDON, Oct. 25 - 

Showing that money can still be made 
in the old-line industries

 turnaround specialist 
Wilbur L. Ross 
is selling a steel company 
that he created only three  years ago 

in a deal that could create
 a profit of more than $2 billion 
for himself and his shareholders.

Mr. Ross entered the steel industry 
in 2002
 when his buyout firm 
W. L. Ross & Company 
made a $325 million offer 
for a shuttered Cleveland steel mill.

Five deals
 almost $2.2 billion
 and less than three years later
 Mr. Ross is selling the company 
            for $4.5 billion
 and pocketing a personal stake 
in the new company 
worth nearly $300 million

"The transaction we're announcing 
will change the world's steel map," 
Mr. Ross said 
in a conference call 
with analysts and investors. 

The transaction is Mr. Ross's 
latest high-profile example
 of how to thrive 
in industries that others shun.

 The back-of-the-envelope 
      calculation
 is startling: 
The five deals that created International Steel
 cost $2.165 billion, 
including debt.
 
But the total sale price 

for International Steel
is $5.1 billion, 

 " we didn't know
  what we were trying to do 
              was impossible
  and not knowing it was impossible
 we went ahead and did it."  says Ross

--- u fucking monster 
          the pit of hell awaits u --------------



Mr. Ross  a former
 Rothschild banker
        is widely credited
          with reviving 
the United States steel industry 
by buying up dead 
                 Or dying steel  companies
              and then 
               persuading 
their powerful union
 the United Steelworkers of America
 to  streamline operations 
             and 
agree to pension reforms

--------------  suckered bastards  who got paid off here..---------------------
-------------------------------

THE HIT PARADE :  

In April 2002
 W. L. Ross & Co. purchased 
the steel mills 
of LTV Corporation in Cleveland

 then added on 
Acme Steel Corporation
 the Bethlehem Steel Corporation 
and Weirton Steel
--------------------------------------------------
 In December
 International Steel
held a public offering 
               

 The company's stock
 rose 26 percent
 on its first day of trading 

Analysts said 
that the deal could be followed 
by other bids
 for American steel companies

  ---- long as the steel union 
       helps  find a way
    to recycle its membership 
         out of their benes  -------------

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