FROM YOUR EXECUTIVE BOARD
May 23, 2006
New York and Chicago
Representatives of the AEIF traveled to New York City last week where AEIF President Brian Daley addressed a conference of 12 steel industry analysts from 11 institutions. Daley provided information on the ongoing contract negotiations and the AEIF’s observations on operations at the Middletown Works.
Representatives of the AEIF and CARE also traveled to Chicago to attend AK Steel’s Annual Shareholders Meeting. Not surprisingly, CEO Jim Wainscott took ample opportunity to “chide” the AEIF, but avoided addressing the real issues. In response to repeated questioning from a retiree, Wainscott declined to say exactly what cuts it wants in current retiree benefits.
We are completing our comprehensive counterproposal in response to the Company’s last proposal. We expect to meet with the Company again in negotiations this week.