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WFAE 90.7 FM - 0 views

www.wfae.org/...1_87_316.cfm

alcoa yadkin hydro Commissioners wfae

shared by Yadkin River on 04 Dec 11 - No Cached
  • Mr. Stickler is correct when he states, “We don’t put $300 million of investment in the ground and remove those assets in a couple of years,” says Stickler. HE AND HIS HOPEFUL INVESTORS JUST DO NOT MAKE THE INVESTMENT IN THE 1ST PLACE. His last “Proposed” Rebar plant (http://www.steeldevelopment.com/home.php) was in Amory, MS…… They committed to “DECADES” in Amory, MS, only to spend about 3 million dollars in grading and to leave when their “Equity Investors” , apparently Chinese, pulled out. Commissioner Dennis and the rest of the Commissioners have just reason to be concerned. I have spoken to people involved in the Amory MS project as well as Ontario, OH, where good people acted in good faith and listened to the “Stickler Pitch”… This time and in this community, Officials are aware of the previous dealings that this group “Proposed” and did NOT deliver on. It seems as if ALCOA has a big problem on their hands attempting to Introduce Clean-Tech to the Community. It makes you wonder if they conducted their due diligence, or did they? I stand firmly behind the County Commissioners and it is my hope Governor Perdue and Sec. Crisco are aware of the very questionable ability of Clean-Tech to perform considering that they DID NOT in Armory, MS. Comment by JohnMullis - September 30, 2011 9:10 PM
  • The jobs and revenue produced for the public by publicly controlled hydropower, where public entities have control of the FERC license for the hydroelectric dams is well documented on the Stanly County website. http://www.co.stanly.nc.us/ALCOARelicensing/tabid/176/Default.aspx This website has links to key documents information about the Alcoa situation which ought to be read by anyone seeking to be informed about the issue or desiring to make an intelligent comment based on knowledge, not ignorance. In particular, take a look at the links on the Stanly County website to about the large numbers of jobs and revenue for the localities produced by the agreements struck between Alcoa and the New York Power Authority in December 2007 and between Alcoa and Chelan County, Washington, in June 2008. http://www.co.stanly.nc.us/ALCOARelicensing/tabid/176/Default.aspx In addition, opponent's of recapture of the Yadkin Project ought to look at industrial recruitment advantages that South Carolina enjoys with low cost electrical power produced by Santee-Cooper, South Carolina’s state-owned electric and water utility, and the state’s largest power producer. https://www.santeecooper.com/portal/page/portal/santeecooper/homepage Comment by WaterPatriot - September 27, 2011 2:13 PM
  • Yadkin River on 04 Dec 11
     
    Alcoa, Stanly County Square Off Over JobsJulie Rose Monday September 26, 2011
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Alcoa and Chinese Rival Buy 12% Stake in Rio Tinto - New York Times - 0 views

www.nytimes.com/...02mines.html

chinese ALCOA YADKIN GOINGOUT

shared by Yadkin River on 19 Dec 11 - No Cached
  • SHANGHAI — The state-owned giant Aluminum Corporation of China and the Aluminum Corporation of America stunned analysts and investors Friday by buying a minority stake in Rio Tinto, the world’s third largest mining company.
  • “The Chinese are probably the best capitalists that communism will ever have given birth to,” said Michelle Applebaum, head of an independent steel equity research firm in Chicago.
  • Last year, China’s state-controlled sovereign wealth fund — another increasingly visible and controversial measure of the new wealth of the nation — invested in the private equity firm Blackstone. Later, it paid about $5 billion to buy a small stake in Morgan Stanley.
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  • Now, China appears to be making another bold play to capture the natural resources it needs to fuel its fast-growing economy.
  • Most of the $14 billion came from Chinalco, which is ultimately controlled by the government in Beijing. Alcoa, which is based in Pittsburgh, contributed only about $1.2 billion to purchase the Rio stake.
  • "We believe that the Chinese recognize that control will likely be elusive — if not impossible — and that ownership of its raw material resources is key to the future.”
  • The statement, analysts say, was a hint that the two could team up with other companies or entities, possibly from China, to bid for all of Rio and wage a tough takeover battle with BHP, driving up the price of Rio shares.
  • partly because of suspicions that the Chinese government could be behind the deal.
  • Neither Chinalco nor Alcoa have the cash or stock to make a $150 billion bid, analysts say. Shares of Alcoa are worth about $30 billion and Chinalco shares in China are worth about $50 billion.
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Example of Chinese Investments - Chinese Investors - 0 views

www.chineseinvestors.co.uk/examples_investments.php

ALCOA Chinalco YADKIN

shared by Yadkin River on 19 Dec 11 - No Cached
  • China is undeniably a global economic powerhouse. While the global financial crisis was a catastrophe for most economies, it was more an opportunity than a challenge for China. United States is keen to allow Chinese investment into small and medium US banks. America now realises that for its economy to come out of the crisis fully, foreign investment is badly required. Meanwhile, China with its $2-trillion foreign currency assets is on the prowl.
  • n February 2008, Aluminum Corp of China (Chinalco) joined hands with Alcoa Inc to buy a 12 per cent holding in UK-listed Rio Tinto for $14 billion, just days before mining rival BHP Billiton (the Australian mining giant) was to make a formal offer for Rio Tinto.
  • enovo Group, acquired the controlling stake in IBM's PC business. The $1.25 billion deal saw Lenovo jump to the third spot amongst the world's largest PC makers.
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Press Releases * Calisolar - 0 views

www.calisolar.com/...expand_production.php

Calisolar Correnti LowndesCO Mississippi

shared by Yadkin River on 31 Dec 11 - No Cached
  • Its investors include Advanced Technology Ventures, Globespan Capital Partners, Good Energies, Hudson Clean Energy Partners, and Ventures West.
  • We are grateful to Governor Barbour, the Mississippi State Legislature, the Mississippi Development Authority, and Lowndes County
  • Calisolar was awarded a clean energy manufacturing tax credit as part of the American Recovery and Reinvestment Act
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  • SMS Siemag
  • supplying the majority of the equipment to be installed at the Mississippi facility
  • San Antonio, Texas-based Zachry Holdings, Inc
  • engineering and building the facility
  • upport from the Tennessee Valley Authority
  • Lowndes County Development Authority
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European investors probably won't build steel plant in Ohio | The Columbus Dispatch - 0 views

www.dispatch.com/...steel.html

shared by Yadkin River on 23 Dec 11 - No Cached
  • The group, Steel Development, will now turn to about four other states to the south and west, Stickler said.
    • Yadkin River
      Yadkin River on 23 Dec 11
       
      This BUNK has been going on since early 2008...Same result...Different State
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djournal.com - Amory project among top 15 in country - 0 views

nems360.com/...roject-among-top-15-in-country

Correnti STEELDEVELOPMENT davidstickler MonroeJournal CleanTech governor AmoryMS chinese MonroeCountyMS

shared by Yadkin River on 04 Jan 12 - No Cached
  • Amory project among top 15 in country* Steel Development Corp. is building a $200 million plant that will employ 150 workers.By CHRIS WILSONMonroe Journal
  • Trade amp& Industry Development magazine has named Amory's steel mill project one of the top 15 projects in the country.
  • community-transforming
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  • "But the current situation has not cooled our enthusiasm- or that of our equity capital investors - for our business model
  • Amory Mayor Howard Boozer has said "I don't think people have begun to fathom the impact this project will have on Amory, Mississippi."
  • Boozer said getting the steel mill project in Amory was the result of a lot of "blood, sweat and tears" from a lot of people. "I said then that failure was not an option.
  • Yadkin River on 04 Jan 12
     
    Dashed Hopes
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Steel chief hits out at US-China plant critics - FT.com - 0 views

www.ft.com/...59-11df-a860-00144feab49a.html

Correnti steel CleanTech hydro china chinese Investors

shared by Yadkin River on 04 Jan 12 - No Cached
  • plan to build a steel plant in the US partly funded by one of China’s biggest steel companies has hit out at his critics, saying that objections to the scheme are a “ploy” by established US companies to block fair competition.
  • John Correnti, chief executive and part owner of Steel Development, which intends to construct a $168m plant in Amory, Mississippi, with the aid of investment by state-owned Anshan Iron & Steel, dismissed as “ludicrous” a claim by a group of US congressmen that the involvement of a Chinese company could potentially damage US national security.
  • Mr Correnti’s project in Mississippi – which he says is part of a bigger $2bn scheme to build a total of four steel plants in undisclosed locations US-wide – comes at a difficult time for the country’s steel industry which was severely affected by the 2008-09 economic crisis and is recovering only slowly.
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  • It also exacerbates tensions between the US and China.
  • Parts of the US business community are concerned at what they regard as a “mercantilist” approach to industry by Beijing, under which the country is said to use levers such as the undervalued renminbi to help Chinese companies.
  • Tom Danjczek, president of the Steel Manufacturers Association, a trade group, which represents most of the large mini-mill companies, said his members “particularly objected” to the presence in Mr Correnti’s investment group of Anshan. That was on the grounds that the company benefited from Beijing’s assistance, in the form “of easy access to government loans and an artificially low currency”. State-owned Anshan benefited from such government help in a way that was denied to its competitors in the US, he said. In a letter sent in July to Tim Geithner, US Treasury secretary, a group of Congressmen representing steel producing districts claimed the planned involvement of Anshan in the Amory project could threaten US national security.
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Foreign investment in U.S. infrastructure causes security concerns | Homeland Security ... - 0 views

www.homelandsecuritynewswire.com/cture-causes-security-concerns

ALCOA ownership infrastructure homeland

shared by Yadkin River on 21 Dec 11 - No Cached
  • the interest of foreign companies in buying U.S. critical infrastructure assets; that interest is now growing again, and the Obama administration is grappling with how to balance the promotion of commerce with the bolstering of security
  • The issue is coming back to the fore as foreign investors once again try to buy American industrial assets. The Obama administration has thus been forced to grapple with how to protect national security while promoting economic recovery.
  • The New York Times’s Eric Lipton wrote last month that in early December, the administration had threatened to block the proposed takeover by the Chinese government of a tiny Nevada gold mining company, according to executives for the company,
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  • Foreign investments in the U.S. are critical to economic growth and job creation here at home, but we have an obligation to prioritize national security,” the deputy Treasury secretary, Neal Wolin, said in a statement released in mid-December, in response to questions about the scrutiny of proposed deals.
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