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Canadian company holding steel needed for WTC antenna 'hostage' for millions
New York Post ^ | October 13, 2012

Posted on 10/13/2012 4:44:51 AM PDT by SMGFan

A Canadian company is holding the steel needed to build the new World Trade Center’s antenna “hostage” for millions of dollars — jeopardizing the completion date for the tower and at least 100 iron-worker jobs, court papers charge.

The building reached 104 stories in August, but is expected to reach 1,776 feet when the antenna is done.

“When it is complete, the building known as 1 World Trade Center will be the tallest building in the Western Hemisphere and a symbol of the recovery of New York City, New York state and the United States from the terrorist attacks of 9/11,” the Manhattan Supreme Court suit says.

But, the Port Authority’s WTC Tower 1 LLC says in court papers that it can’t happen unless ADF Steel stops trying to shake them down and ships the rest of the metal they desperately need to finish the project.

(Excerpt) Read more at nypost.com ...


TOPICS: News/Current Events
KEYWORDS:

1 posted on 10/13/2012 4:44:58 AM PDT by SMGFan
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To: SMGFan

There’s no steel available from US plants? Perhaps they are all running at 100% capacity in these boom years and just can’t take another order.


2 posted on 10/13/2012 4:48:05 AM PDT by ProtectOurFreedom
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To: SMGFan
ADF refuses to ship this antenna steel unless and until it receives approximately $6 million allegedly owed under another contract for another project as ransom,

LOL!

If they were in the hole to me for $6 mil, I wouldn't ship the dang thing, either!

3 posted on 10/13/2012 4:51:43 AM PDT by MamaTexan (I am a Person as Created by the Laws of Nature, not a person as created by the laws of Man)
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To: ProtectOurFreedom

Sort of like obama is holding the pipeline hostage?

Once this would not have been possible...and now we are a ‘service’ economy. What the hell is a ‘service’
economy? A sightseeing tourist attraction? Damn politicians and their union thug ignorance.


4 posted on 10/13/2012 4:54:48 AM PDT by MestaMachine (obama kills and none dare call it treason)
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To: MamaTexan

Me neither....this is the same company that has already been stiffed by the WTC builder for other projects on the same building. The builder is apparently trying to complete the building and get payments so that he can pay off bills he’s already reneged on.


5 posted on 10/13/2012 4:55:30 AM PDT by Gaffer
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To: SMGFan
Does the Port Authority of New York and New Jersey,in fact,owe this company money? If so that company may be within its rights,legally speaking,to do what they're doing.In terms of PR,however,they're foolish to be doing this.Having provided the “crown” for the tallest building in the Western Hemisphere would be a nice thing for a company to be able to put on its resume.
6 posted on 10/13/2012 4:55:43 AM PDT by Gay State Conservative (Ambassador Stevens Is Dead And The Chevy Volt Is Alive)
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To: ProtectOurFreedom

The parts are unique and fabrication takes time. The Canadian company has to worry about its reputation as a reliable supplier and its sunken investment in the parts already fabricated, that cannot be used by anyone else. The Canadian company was undoubtedly the lowest qualified bidder, and it appears they have performed adequately to date. I see their reluctance to ship to a deadbeat customer without getting what they are already “owed”. The story says the PA admits that owes money on previous shipments, but the contracted stipulated that this shipment would not be held up disputes about other contracts.

This is what happens when Democrats run a region.


7 posted on 10/13/2012 4:56:03 AM PDT by Lonesome in Massachussets ( Message to President Obama: Mene, mene, tekel, upharsin)
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To: SMGFan

No steel here?

wow

We need manufactured steel from Canada. Just wow.

It’s not just that US steel is more expensive [unions, taxes] but that US steel simply isn’t there?

just damn


8 posted on 10/13/2012 4:56:08 AM PDT by Principled (Vote Romney to stop Obama. Vote for conservative Reps and Senators to stop Romney. [ZET 7/30/12])
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To: SMGFan

So the Port Authority is Six Million in arrears on other related contracts and is paying in installments and has their fabricator pissed off?


9 posted on 10/13/2012 4:56:31 AM PDT by KC Burke (Plain Conservative opinions and common sense correction for thirteen years.)
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To: Gaffer
The builder is apparently trying to complete the building and get payments so that he can pay off bills he’s already reneged on.

This story is as old as the construction industry. Subcontractors and suppliers are the industry's bankers and get played for fools on a regular basis by the general contractors. Throw in the occasional sleazy owner (remember Charlie Keating???) and it's a regular murderer's row, at least in a financial sense.

10 posted on 10/13/2012 4:59:48 AM PDT by T-Bird45 (It feels like the seventies, and it shouldn't.)
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To: SMGFan

The solution is simple....... pay the old bill.

The situation could become worse. They can demand payment for the steel in advance plus the old bill as well. I would.

Better pay up

Whining to a New York newspaper will only exacerbate the problem


11 posted on 10/13/2012 5:00:24 AM PDT by bert ((K.E. N.P. N.C. +12 ..... Present failure and impending death yield irrational action))
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To: Gaffer
The builder is apparently trying to complete the building and get payments so that he can pay off bills he’s already reneged on.

GEE! I don't know WHY these folks won't just take his word for it that they'll get paid!

LOL!

12 posted on 10/13/2012 5:00:30 AM PDT by MamaTexan (I am a Person as Created by the Laws of Nature, not a person as created by the laws of Man)
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To: SMGFan
The New York Port Authority broke PacSteel by demanding contract changes in mid-cantract when they built the first two towers.
13 posted on 10/13/2012 5:03:07 AM PDT by fella ("As it was before Noah, so shall it be again,")
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To: SMGFan

DAMNED SHAME!!

In the mid 60’s I worked at a gas station in the shadow of the Manhattan Bridge and would see all the steel, AMERICAN STEEL, coming across it on the way to the Trade Center.

Service economy my patooty!


14 posted on 10/13/2012 5:03:14 AM PDT by Roccus
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To: T-Bird45

The most important job of a CFO is to withhold payments to subs for the maximum time possible...preferably for at least a couple of bank cycles. I’ve worked for a couple of companies that did this on a regular basis.


15 posted on 10/13/2012 5:03:38 AM PDT by Gaffer
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To: SMGFan

This isn’t unusual, I also know of a batch of hydro-electric generators that are being held by the shipper for non-payment. How greeen is that?


16 posted on 10/13/2012 5:07:21 AM PDT by Fireone (Impeach and imprison, NOW!)
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To: MestaMachine
What the hell is a ‘service’ economy?

That's where we all get rich shoveling each others' sidewalks!

17 posted on 10/13/2012 5:13:08 AM PDT by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing)
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To: SMGFan
If the progress of the job is so important than the Port Authority should pay the 6 mil. and quit the whining. I'm sure the Port Authority is no stranger to the game of hardball and right now someone else has the ball.
18 posted on 10/13/2012 5:17:26 AM PDT by count-your-change (You don't have to be brilliant, not being stupid is enough.)
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To: Gaffer
A couple of bank cycles is de rigueur in my observation and experience. Also, don't kid yourself, the subs are pricing this into their quotes.
19 posted on 10/13/2012 5:17:35 AM PDT by T-Bird45 (It feels like the seventies, and it shouldn't.)
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To: SMGFan

If I told the Port Authority that I’ll pay their $14 tunnel toll or their $60 to park a car overnight at the airport when I get around to it, I wonder what would happen to me?


20 posted on 10/13/2012 5:18:27 AM PDT by Haiku Guy (If Hillary reminds every man of his ex-wife, Joe Biden reminds every woman of her ex-husband.)
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To: T-Bird45

Which started first?


21 posted on 10/13/2012 5:21:16 AM PDT by Gaffer
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To: Smokin' Joe

Oy vey!


22 posted on 10/13/2012 5:21:32 AM PDT by MestaMachine (obama kills and none dare call it treason)
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To: MestaMachine

Posted my #14 before I read your post.
We think alike.


23 posted on 10/13/2012 5:35:06 AM PDT by Roccus
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To: Roccus

Around my area they’ve been replacing steel guard rails and installing sound barriers supported by large steel beams - I wonder where all that stimulus-funded steel is coming from.


24 posted on 10/13/2012 5:37:21 AM PDT by mvpel (Michael Pelletier)
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To: mvpel

Take your pick

http://en.wikipedia.org/wiki/List_of_steel_producers


25 posted on 10/13/2012 5:47:43 AM PDT by Roccus
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To: ProtectOurFreedom
"There’s no steel available from US plants? Perhaps they are all running at 100% capacity in these boom years and just can’t take another order."

Exactly what I said when I first heard this. America was once the steel maker of the world and now? Between government/EPA regs and union plant busting these important industries have left. Heaven forbid if we ever had to gear up for a major war; we'd be screwed!

26 posted on 10/13/2012 5:51:20 AM PDT by wesagain (The God (Elohim) of Abraham, Isaac and Jacob is the One True GOD.)
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To: Gaffer
The Canuks should be glad Wal Mart isn't building the new WTC.
They routinely take 180 days to pay vendors.
27 posted on 10/13/2012 6:01:30 AM PDT by Eric in the Ozarks (In the game of life, there are no betting limits)
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To: SMGFan

No ticky no washy.


28 posted on 10/13/2012 6:37:25 AM PDT by Rappini (Veritas vos Liberabit)
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To: SMGFan

Greedy capitalists expect The Port Authority For The Peoples Republic Of New York too pay for their products?

They should be honored to have the contract and just provide the steel for free.

/s


29 posted on 10/13/2012 6:45:31 AM PDT by Iron Munro (Psalm 109:8 "Let his days be few, and let another take his office.")
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To: fella

I searched for Pacsteel and all I could come up with was this;

http://www.freerepublic.com/focus/f-chat/2916693/posts
isn’t that funny that the only quick referances I could find were here. Great pics BTW.


30 posted on 10/13/2012 7:03:09 AM PDT by VaRepublican (I would propagate taglines but I don't know how. But bloggers do.)
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To: VaRepublican

Sorry referances should be references.


31 posted on 10/13/2012 7:05:14 AM PDT by VaRepublican (I would propagate taglines but I don't know how. But bloggers do.)
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To: VaRepublican

Maybe one should pay ones bills?


32 posted on 10/13/2012 7:07:04 AM PDT by VaRepublican (I would propagate taglines but I don't know how. But bloggers do.)
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To: SMGFan
The filing does not dispute the Port Authority owes ADF money for other WTC projects, but says ADF’s contract “expressly promised not to withhold delivery of this steel so long as it received progress payments” on the antenna steel, which the PA had been dutifully paying.

It appears that ADF feels that once it delivers this last bit of steel that they will have no more leverage over the PA to make any more progress payments -- and they may be right.

33 posted on 10/13/2012 7:19:49 AM PDT by Uncle Chip
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To: SMGFan

I wish they would pay the bill. This is embarrassing.


34 posted on 10/13/2012 7:22:20 AM PDT by Irenic (The pencil sharpener and Elmer's glue is put away-- we've lost the red wheel barrow)
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To: SMGFan

I take it from the incendiary language the Post wants us to be outraged over this. Should we grab torches and mob the Canadian consulate?


35 posted on 10/13/2012 7:22:27 AM PDT by DManA
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To: SMGFan

they don’t pay the bills and yet they sue the company not willing to ship product until they are paid? Only in America.


36 posted on 10/13/2012 8:14:57 AM PDT by paul51 (11 September 2001 - Never forget)
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To: Eric in the Ozarks

The big difference is that Walmart would have had it built and opened a year or more ago...


37 posted on 10/13/2012 9:32:12 AM PDT by Gaffer
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To: Gaffer
When I worked for international harvester (IH) during the major union strike time which destroyed the company I was put in charge of implementing a new cash distribution system (CDS) which was designed to manage IH’s payments to it's suppliers.

Part of the CDS system was to determine whether to accept the suppliers discount in return for prompt payment based on the cost of borrowing money. Another part of the system overnighted the payment checks to a location with the post office with the longest mailing time before the supplier would receive them. The individual checks were drawn against the banks which had the longest clearing time. This was done to receive the longest ‘float’ on the money deposited in the banks.

The system relied upon a system by Phoenix-Hecht (PH)which studied both mailing time and clearing time for banks and post offices. By mailing out the checks on the date due, IH could legally claim that they were in full legal compliance with their contracts even though it may take a week or more for the supplier to actually receive the cash.

The PH system was intended to identify the post offices with the quickest mailing times and the banks with the quickest clearing times but IH used the system for the extreme opposite reasons.

38 posted on 10/13/2012 12:01:03 PM PDT by dglang
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