Why This Steel Chief Has Such An Iron Will

As a strike drags on, WHX Chairman LaBow has little to lose

You might think that WHX Chairman Ronald LaBow has reason to feel glum. After buying control of bankrupt Wheeling Pittsburgh Steel Corp. a decade ago, he turned the company into an industry profit leader--only to see the bottom fall out when the United Steelworkers went on strike over pensions last October. That was seven months ago, and now it's the longest steel strike ever, LaBow is demonized among the strikers, and the company is losing millions of dollars a month. The stock, which reached 193/4 three years ago, is down to 61/2.

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