Terence Corcoran: Maybe Carney really wants to take over Stelco |
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Terence Corcoran: Maybe Carney really wants to take over Stelco
Could it be that Ottawa’s objective is to establish a new 'Fortress Canada' industrial sector protected against U.S. trade?
We are three weeks into the great legal, economic and political battle between Mark Carney’s Industry Minister, Mélanie Joly, and Lourenco Goncalves, CEO of Cleveland-Cliffs Inc., the U.S. steel company that owns Stelco, the Hamilton, Ont.-based Canadian steelmaker. But it is still impossible to make sense of it all.
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As companies, both seem to be going gangbusters, at least according to Cleveland-Cliffs’ announcement Monday that sales and profits for the third quarter are coming in strong, including at Stelco, which apparently is doing great despite the........