As a student of Alexander Hamilton and economist Adam Smith, products and supply, in my opinion, remain the key to economic prosperity. Accordingly, profit is the pursuit of labor and capital returns. American Electric Power's recent report of $338 million should be admired and congratulated.
Yet, as with any corporation and more importantly a public utility as AEP, there should be a "public profit" to the community. As the community awaits a decision from the the Public Utilities Commission of Ohio (PUCO) adjudication proceedings of an electric rate dispute between Ormet and AEP, one hopes the risk/ benefit assessment is understood.
The approximately 1,000 good wage-paying jobs at stake are consequential, yet, the economic implicatons to the Ohio Valley are monumental. We continue to hear from political and community leaders, the magnitude and significance of the "working class"! Spend a few minutes discussing the physical and intellectual challenges of the contemporary aluminum worker - or their family - at the Ormet Hannibal facility. Promptly, one realizes the commitment and dedication required of working families and their foundation to our community.
It is imperative that PUCO negotiate a fair opportunity for Ormet's survival. AEP has an obligation to the success of the communities of Eastern Ohio and Northern West Virginia. Our politicians and community leaders have a responsibility to create and economic environment for community success, hence, ensuring the opportunity for success of the "working men and Women of the Ormet Corporation."
C. Clark Milton, DO