Loss-making balance sheets and cost-cutting in — or lax — oversight of health and safety can go hand in hand; they are often examples of poor management. The aforementioned also sometimes go hand in hand with state ownership – in both the developed and developing world. So maybe it should come as little surprise that, according to a Financial Times report, there has been yet another fatal accident at a loss-making, state-owned Indian steel plant. For foreign buyers of Indian steel, the red flag is loss-making, state-owned manufacturers also have some of the worse reputations of poor quality. This latest incident is ... (full story)