Crain’s Cleveland Business Newspaper features Western Reserve Partners Managing Director Joseph Carson in article “Steel Users Work to Deal with Metal’s Soaring Cost”

May 26, 2008

Western Reserve Partners Managing Director Joe Carson was quoted in an article in Crain’s Cleveland Business Newspaper’s May 26- June 1, 2008 issue. The article was titled, “Steel users work to deal with metal’s soaring cost.”

Mr. Carson discussed past price increases in steel and how they affected the way steel manufacturers planned to address future commodity price fluctuations. He said, “In 2004, we had a run-up in steel prices as well and people got caught with their pants down. People weren’t prepared for it and they couldn’t pass along the price increases.” “This time around” he continued, “people are a lot smarter.” “They see scrap prices going up and they say “Hey guys, we need to increase prices.””

The article goes on to discuss the strategies companies have taken to remain profitable in the face of rising steel prices. Several industry practitioners are also quoted and describe their difficulties in passing costs along to their customers.