Hamilton steelworkers are calling for a public inquiry into U.S. Steel Canada’s creditor protection.
Steelworkers Local 1005 has issued a news release, saying workers in Hamilton and Nanticoke, “both current and retired, have been deeply impacted” by the company’s restructuring.
But McMaster University business professor Marvin Ryder says he doesn’t think the call for an inquiry is anything more than “a publicity stunt.”
Ryder says the union doesn’t have the power to call for a public inquiry, and even if it did, he doesn’t know what a “public inquiry really means.”
Ryder told CHML’s Bill Kelly Show, he believes the union just wants a hearing so it can vent about Stelco’s sale to U.S. Steel, the company’s secret deal and the creditor protection process.
The steelworkers will officially call for an inquiry at a news conference on Thursday and Ryder says he doesn’t think it will have any impact.
U.S. Steel purchased Stelco in 2007, but operations were idled just two years later.
Steelworkers Local 10-05 president Gary Howe says “Regardless what is in the secret deal, it is clear that we deserve compensation on this deal. That compensation at the very least is a fully funded Pension Plan, OPEB’s and guaranteed jobs in Hamilton, nothing less. Our retirees deserve to live in dignity and stop having to worry whether what they earned will be swindled from them. The best way to ensure that is to start making steel again at our Hamilton Plant.”