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Posted: 10:28 PM Jan 6, 2009
Local Businesses Closely Watching Washington
Priority number one for Congress and the Obama administration will no doubt be getting the economy back on track. Whatever action is taken, the ripple effects will be felt right here at home, and some West Virginia companies are keeping a close-eye on Washington.
Reporter: Will JonesEmail Address: will.jones@wsaz.com |
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JACKSON COUNTY, W.Va. (WSAZ) -- Priority number one for Congress and the Obama administration will no doubt be getting the economy back on track.
Whatever action is taken, the ripple effects will be felt right here at home, and some West Virginia companies are keeping a close-eye on Washington.
Century Aluminum, the biggest employer in Jackson County, W.Va., is hoping a stimulus package can turn its fortunes around by providing a much needed boost to the aluminum market.
"We have situation where if the stimulus packages begin to work, demand will increase," said Jim Chapman, vice president of Century Aluminum. "If aluminum consumption goes back up, the demand and supply imbalance will not be there. Pricing will come back to the position it was at."
The price of aluminum dropped by 60 percent last year, and Century Aluminum told its 685 workers that their days are numbered if the current trend continues.
Now, company leaders are waiting to see what action lawmakers will take to deal with this nationwide economic crisis.
Latest Comments
I agree with Susan. I think I read somewhere that AEP's third quarter net profits was around $375 million. These utility companies and Big Oil are raping this country and our own government lets it happen.
The Government needs to do something with AEP I don't get how someone with can legally double our bill because of some other business going out of business. To me what is there to make up. If it goes out of business then shut all the power off not add their bill to mine and others to make up for it. Something really needs to be done to control the cost of all utilitys.
I hope everything works out for the best. I would hate to see all those workers lose their jobs. They have my prayers.
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