The Stel Salaried Pensioners Organization wishes to thank The Hamilton Spectator for permission to post the following article appearing in the March 20, 2004 edition

Mar. 20, 2004. 12:58 AM

Liberals watching Stelco developments closely

By Stan Keyes, Mp, Hamilton West
The Hamilton Spectator

As a Hamiltonian, I want to reassure our community and our region that the federal government is very concerned about the financial challenges faced by Stelco.

The federal cabinet, the Liberal caucus and all parties are currently monitoring the progress of Stelco's restructuring process under the Companies' Creditors Arrangement Act (CCAA).

The decision to file under CCAA was Stelco's. The CCAA is a complex legal process which will take time. After discussions I have had with Stelco, I have been reassured that all parties will receive due consideration.

It is important to note the company has not asked for the federal government's assistance. As would any company at this stage of the CCAA process, Stelco prefers to act without the government's involvement while they conduct their own restructuring process.

My colleague, the minister of industry, has met with the Hamilton-Niagara Liberal caucus and me to discuss the federal government's role under the CCAA.

This is the same approach we would take with any other industry facing similar challenges.

I feel it is critical that Hamiltonians know their government is acting in a responsible and engaged manner. We do not agree with the approach taken by Dave Christopherson and Jack Layton, whose recent comments in The Spectator do nothing but create a climate of heightened anxiety for the current and former employees of Stelco.

To suggest our government is not concerned about the fate of Stelco and its employees and pensioners is frankly wrong and moreover, irresponsible, because it has nothing to do with genuine concern and everything to do with trying to score cheap partisan points.

What is very clear is that our approach to issues of importance is to work constructively and effectively with all stakeholders towards a positive solution.

My colleagues and I will continue to meet and listen to all concerned parties.