Nucor Corp

become one of the fastest growing steel companies in America and one

of the world’s lowest-cost producers of steel products in 1990.

Company revenues had increased from $21 million in 1966 to nearly

$1.5 billion in 1990 and earnings were $75 million, up from $1.3

million in 1966. Despite an economic recession in 1991, it appeared

that Nucor had a virtually unstoppable low-cost leadership strategy to

grow into one of the biggest and best-known global producers of steel.

Customers liked Nucor’s expanding product line and low prices;

investors were pleased with the company’s relatively strong earnings

and stock price performance; and Nucor, with Ken Iverson as a “model

company president”, had become a media darling and one of the most

But by the fall of 2001, just ten years later, so much had changed. Ken

Iverson was no longer CEO and a newly appointed president and CEO

was exerting more control over the company’s highly decentralized

operations. The steel industry worldwide had far more production

capacity than was needed to meet market demand, forcing many

companies to operate in the red. The economic slowdown wh

. . .
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Approximate Word count = 963
Approximate Pages = 4 (250 words per page double spaced)