The Stel Salaried
Pensioners Organization wishes to thank The Hamilton Spectator for permission
to post the following article by Reporter Daniel Nolan published in the
September 21, 2005 edition
By Daniel
Nolan
The Hamilton Spectator
(Sep 21, 2005)
Byung Yoo and Yun Kim don't want to
even imagine what would happen to their grocery store if Stelco went bankrupt.
Their business, Handy Market, is in the
shadow of Stelco at Burlington Street East and Gage Avenue North. They estimate
50 per cent of their customers are Stelco employees.
They're pleased to hear a deal has
finally been reached by the company, union and Ontario government to keep the
firm afloat. The 21-month-old cloud hanging over the steelmaker may soon be
lifted.
"As long as the business is
ongoing, we're happy," said Kim, standing behind the counter of the store
that sells everything from coffee and sandwiches to groceries and toys.
Yoo and Kim's sentiments were repeated
by Hamilton residents from civic leaders to Stelco retirees who faced a threat
to their pensions if the company went under.
Mayor Larry Di Ianni called news of a
potential deal "hopeful." It remains conditional on, among other
things, a new contract being reached between Stelco and union members at its
plant near Port Dover.
"The ingredients are there to get
approval ... and get this company back on the road to recovery," said the
mayor, who has met with company and union officials to encourage them to reach
a deal to save the Hamilton landmark. "I'm cautiously optimistic."
Di Ianni said losing Stelco would be
"a devastating blow" to Hamilton. It would not only hurt the economy
and social services, but also damage the city's psyche. "Can you imagine
Hamilton without Stelco? It's unimaginable."
Brian Wilson, president of the Hamilton
and District Chamber of Commerce, said the business community is relieved the
Stelco bankruptcy saga appears to be coming to an end. He echoed the mayor's
comment about the impact that losing Stelco would have on Hamilton.
Pensioner Otto Bloesz, who retired from
Stelco's Hilton Works in 1984, said he felt "pretty good" about the
latest development, but he was always optimistic something could be worked out
and the province would step in.
"The government wouldn't let a
company like Stelco go down," said the 85-year-old, who worked as a
bricklayer for 15 years. "There are 5,000 people working there."
Dusan (Dennis) Bosnic, who retired from
Hilton Works in August, said he is hopeful the deal will be finalized, adding,
"How I feel is beyond explanation." The 62-year-old, who worked at
Stelco for 35 years, said he was angry a deal wasn't reached sooner by all
parties and he blamed company management for putting Stelco in its financial
predicament.
He hoped, if a deal is reached, there
would be a shakeup in management. "Otherwise, it will be under bankruptcy
protection again. A lot of people feel the same way. ... People care about the
company."
dnolan@thespec.com
905-526-3351