Copying and distributing are prohibited without permission of the publisher
(AMM) Infrastructure spending vital for steel, say execs
January 28, 2009 - 22:22 GMT
Location:
PITTSBURGH
The steel industry is speaking with a single voice on a much-needed investment in roads, bridges and other infrastructure assets to help drag the U.S. economy out of recession. But concerns appear to be mounting over the size of the infrastructure spending in President Obama?s proposed economic stimulus package.
"I was horribly disappointed with the amount of hard dollars going into infrastructure," Keith Busse, chairman and chief executive officer of Steel Dynamics Inc., Fort Wayne, Ind., said. "Out of an $850-billion package, the rumors of $90 billion, $100 billion, $110 billion worth of spending is pathetically low."
Busse was one of several steel executives to discuss the federal spending proposals during earnings conference calls this week. And while he was the most outspoken, other executives also expressed concerns about reports coming out of Washington.
John P. Surma, chairman and chief executive officer of U.S. Steel Corp., Pittsburgh, said he thinks...
All material subject to strictly enforced copyright laws. ©
Euromoney Institutional Investor PLC.
Please log in using your online subscriber details.
Your username will be your registered email address with Metal Bulletin.
If you aren't a subscriber yet, feel free to take a seven day free trial, or subscribe using the instructions below.
Subscribe
A standard subscription include one year's worth of news and prices. You can also upgrade to the full archive and benefit from more than 13 years of intelligence. Start your subscription today.
Subscribe
Free trial
Taking a free trial will give you open access to Metal Bulletin online news, prices, archived content and email alert service for the next seven days. Start your free trial today.
Free trial