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:
“Shall I tell you who will come
to Bethlehem on Christmas Morn,
Who will kneel them gently down
before the Lord, new-born?”
—Unknown. Words from an Old Spanish Carol (l. 1–4)
“It is not as easy to emigrate with steel mills as it is with the manuscript of a novel.”
—Golo Mann (b. 1909)