Are Investors Liable For Lb Os Gone Bust?

Tom Rabone first laid eyes on Kaiser Steel Corp.'s huge mill back in 1946 after his dad found work there. By 1950, he was making steel at the Fontana (Calif.) plant, too. The work was often brutal, but pay and benefits were good: By the time Rabone retired in 1983, he and his wife had raised four kids, sending one to Stanford University. They looked forward to a generous pension and full medical coverage as long as they lived. "People felt there was some security that was assured," he recalls.

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