■ "The 2012 minimum wage is equal to what was paid in 1960."
■ "Minimum wages have never been sufficient to raise a family out of poverty, if only one member of the family works."
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Mining giant Rio Tinto's 2007 purchase of Alcan for $38.1 billion was the subject of a review in Tuesday's Wall Street Journal.
"The premium-priced deal came at a cyclical peak - aluminum prices were at a 20-year high," the newspaper said. "That was before aluminum prices crashed as China produced more than expected and consumer demand for everything from cars to cans plummeted with the financial crisis."
Dick Evans, the former CEO of Alcan, was quoted as saying Rio Tinto's decision to acquire the aluminum company was one of the "worst decisions ever ..." The results have been dramatic:
■ Rio Tinto was forced to sell many of its aluminum businesses to pay down debt. In 2011 the company went from being a majority stakeholder to a minority stakeholder in the Alcan Rolled Products Plant in Ravenswood - the largest employer in Jackson County. The company that now operates the plant is named Constellium and major decisions are made in Paris.
■ Rio Tinto has taken a total of $25 billion in writedowns on the Alcan transaction, and last month Rio Tino CEO Tom Albanese resigned.