The most important lesson to be deduced from the profitability performance turned in last year by the world's major steel and raw materials producers seems to be that it was far better to be an international iron ore miner in 2008 than it was to be an international steelmaker.

No matter which industry is under the microscope, people are always interested in what company leaders are thinking and doing in the midst of a deep recession. The media is interested in CEO actions—are they traveling by corporate jet, attending golf tournaments or expanding and redecorating their office?—but these days responsible manufacturing company CEOs are focused on game-changing issues.

There are two looming political matters that deserve the attention of CEOs, their board of directors, employees, shareholders, customers and suppliers.

The first and most imminent is the union drive to pass "card check" legislation that would deprive employees of the secret ballot in organizing elections. Why is this such...