Considering we’re all - from John O’Groats to Michigan - in something of a financial pickle, I wouldn’t mind hearing some sense as opposed to variants on a theme of financial Armageddon combined with this weird terrorist act of fiscal kidnapping going on over here.

I mean, we’ve been trying our best all these years not to cave in to Islamic fundamentalism, but as soon as some former Wall St. Wallah tells us he wants $750 billion in unmarked notes to cover a few gambling debts, or else the economic heavies will be round, we’re all expected to divvy up.

Yes, me and you don’t have a clue other than the gut reaction of a collective sting, but when economists are drawing blank looks then what hope do we have?

According to this article, it appears manufacturing has hit its worst slump in seventeen years. Or to be more exact, UK manufacturing is shrinking at its fastest rate since they began recording manufacturing shrinkage seventeen years ago.

You save your ’since records began’ proclamations for tales of global warming and proper end of the world stuff, I suppose.

Then you’ve got the IISI delaying its three-year steel outlook:

“On a global basis [this] is a situation which is really unclear,” Mittal said at a press briefing ahead of the conference. “Once this financial crisis is behind us, there is much more certainty. This unprecedented situation has caused fuzziness.”

So things are a bit fuzzy according to Mittal? Fuzzy? FUZZY?

And this Times article has an interesting take on steel demand plummeting - not always a bad thing for small sheet metal shops.

But I’m more interested in what any of you people are seeing or predicting.

Feel free to share in the comments.

Weirton Town Sign

You know that steel industry flickr group I mentioned last week and that picture of the steel mill in Weirton just down the road from my current abode?

Yes, this steel mill in Weirton.

Well it looks like I’ve somehow cursed the place as the news this weekend led with the story that Arcelor Mittal will soon be closing its hot mill there.

The Intelligencer reports:

More than 200 layoffs and the demolition or sale of some steelmaking facilities are anticipated in Weirton, as Mayor Mark Harris has been notified that Arcelor Mittal will close its hot mill there soon.

According to Harris, Mike LaWell from the public relations firm Public Affairs Associates contacted him and City Manager Gary DuFour and told them the hot mill would be shut down due to significant financial losses involved with keeping it open.

But the weird thing about the rest of the article is how the mayor manages to spin the closure by being extremely grateful to Mittal for demolishing the abandoned parts of the mill.

“I was surprised when I got the call,” Harris said. “It is sad that we are losing the hot mill, but there seems to be a positive side.”

The mayor said Mittal has made several positive capital improvements and investments toward improving the tin mill facility. LaWell informed Harris that Arcelor Mittal has placed its focus on becoming a “very serious and competitive” tin mill operation.

LaWell also said Arcelor Mittal was considering selling unused portions of the mill to interested parties. One such portion is the open hearth, for which Arcelor Mittal recently gave the approval for demolition.

“Getting rid of the abandoned sections of the mill is really a plus for the city,” said Harris. “If the plan is not to have them reopened, then it would be beneficial to get rid of them and help clean up the downtown area.”

Well at least downtown will get cleaned up as there’ll be 200 extra folk milling about on a daily basis without anything else better to do.

The other peculiar thing I found when doing a search for weirton steel
, the first result is www.weirton.com - they own the domain for the town itself!

Am I putting the cart before the horse here?

UPDATE: There’s now a new West Virginia jobs site that caters primarily for anybody looking for work in the Northern Panhandle and Ohio Valley in particular. It’s called takemehomeohiovalley.com and you may have heard about it on the telly or the radio.