Economy

SMS Announces Organizational Changes
Written by Tim Triplett
December 17, 2018
Scrap Metal Services LLC has announced major changes in the roles of executive management. Effective Dec. 12, CEO Jeff Gertler and COO Rick Gertler have moved into board level positions as chairman and co-chairman of the company’s newly formed board of directors. The two will oversee financial performance, business development and relationship retention, but will not be active in the day-to-day activities of the company.
Jeremy Kirchin has been promoted to chief executive officer and Keith Rhodes to chief financial officer. Kirchin had been serving as division president and Rhodes as vice president of the company’s southern region.
“Both Jeremy and Keith are experienced professionals who will manage all day-to-day responsibilities and direct company performance. We are excited at the prospect of the expertise and experience that both bring to the table that will ensure our continued success, as well as a culture of trust and accountability,” said Jeff Gertler.
Chicago-based Scrap Metal Services and its affiliates operate scrap processing, steel mill services, ship dismantlement and recycling, and intermodal/truck/railcar dismantling facilities throughout the United States, Mexico and Europe. SMS provides full-service scrap management, trading services, consulting and purchasing services to industrial scrap generators both domestically and internationally. SMS is also a supplier of ferrous and nonferrous scrap commodities to both domestic and international consumers and offers brokerage and trading services to other scrap companies.

Tim Triplett
Read more from Tim TriplettLatest in Economy

ISM: Manufacturing expansion loses steam after two months of growth
US manufacturing activity slowed in March after two straight months of expansion, according to supply executives contributing to the Institute for Supply Management (ISM)’s latest report.

Chicago Business Barometer rose to 16-month high in March
The Chicago Business Barometer increased for the third-consecutive month in March. Despite this, it still reflects contracting business conditions, as it has since December 2023.

Durable goods orders rise again in February
Transportation equipment led the increase, rising 1.5% to $98.3 billion.

Consumer confidence falls for fourth consecutive month
People remain concerned about inflation, trade policies, and tariffs.

Housing starts ticked up in February
Single-family starts last month hit a rate of 1.10 million, a month-over-month increase of 11.4%, census data shows.