Bethlehem Steel
Bethlehem Steel Corporation was America's second-largest steel producer and largest shipbuilder.
Bethlehem Steel and a subsidiary company, Bethlehem Shipbuilding Corporation, were two of the most powerful symbols of American industrial manufacturing leadership. Their demise is often cited as one of the most prominent examples of the U.S. economy's shift away from industrial manufacturing, its inability to compete with cheap foreign labor, and management's penchant for short-term profits.
After a decline in the American steel industry and other problems leading to the company's bankruptcy in 2001, the company was dissolved and the remaining assets sold to International Steel Group in 2003. In 2005, ISG merged with Mittal Steel, ending American ownership of the assets of Bethlehem Steel.
Read more about Bethlehem Steel: American Landmarks, Gallery
Famous quotes containing the words bethlehem and/or steel:
“twenty centuries of stony sleep
Were vexed to nightmare by a rocking cradle,
And what rough beast, its hour come round at last,
Slouches towards Bethlehem to be born?”
—William Butler Yeats (1865–1939)
“You don’t resign from these jobs, you escape from them.”
—Dawn Steel (b. 1946)