Sue a business into Profitability
When a business starts losing money, it is sending a signal. In Hamilton, Ottawa’s instinct is to shoot the messenger. I n 2024, Ohio-based Cleveland-Cliffs bought Stelco for $3.4 billion. To win approval under the Investment Canada Act, it signed binding undertakings to maintain employment for five years: the same number of unionized workers and the vast majority of non-unionized staff. The commitment was sold as a shield for the national interest and for the workforce. L ess than two years later, the shield is being tested. Squeezed by U.S. tariffs and a shrinking market for certain steel products, Stelco says it will idle finishing operations in Hamilton, putting up to 500 jobs at risk. The company calls this survival. Ottawa calls it a breach. Industry Minister Mélanie Joly has given Cleveland-Cliffs five business days to produce a plan to keep the jobs or face court action. The federal government has also put money on the table to keep the lines running, an offer the com...