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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: mishedlo who wrote (8477)2/23/2004 10:08:44 AM
From: russwinter  Read Replies (4) of 110194
 
<General Motors Corp. has resisted paying the surcharges. "It's pretty clear from our end that we have agreements with these companies. When the agreements were signed, everybody knew what the price would be," said GM spokesman Tom Wickham.>

This suggests that the speciality steel companies, or mini-mills, who entered into these long term contracts, may be badly hurt, or even wiped out. This is something Don Coxe alluded to on his call.
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