Alcoa contends with rising costs

Aluminum coils in a cooling area at the Arconic manufacturing facility in Alcoa, Tenn., on March 9. Luke Sharrett/Bloomberg

Alcoa warned that surging costs around the globe have rendered as much as 20% of aluminum-production capacity unprofitable.

Despite rising worldwide aluminum demand, Alcoa will be pinched by escalating costs for energy and raw materials, Chief Executive Roy Harvey said during a call with analysts on Thursday.

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(1) comment


Not to worry though. ALCOA will still have plenty of money to pay their top executives millions in salary and golden parachutes. They'll also have enough money to pay lobbyists millions so they don't have to pay any taxes, There'll still be millions for stock buy-backs, perks for the suits, etc.etc.

As always the only ones who'll suffer will be the ones that do the real work. The rich/powerful always take care of their own.

This article never mentions that one of ALCOAs' biggest problems is the incompetence of the suits that run it. They couldn't manage a Lemon-aide stand at a county fair let alone a huge corporation. Their only goal is to make sure they walk away with tons of money.

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