Category Archives: blog news

November Blog Post

       Clichés: Written by Frank Cozzi, Sr.

The first time I heard my father say: “You’re crying with a loaf of bread under your arm,” I had to look under my arms to see what he was talking about. It was a saying from the great depression era when many families couldn’t afford to buy a loaf of bread. Another of his favorites was: “Believe nothing you hear and only half of what you see,” meaning that there are a lot of people out there that are deceptive.

He was also big on bites “Don’t bite off more than you can chew.” And sometimes you just have to “bite the bullet” or sometimes in order to avoid an argument he would advise that you “bite your tongue.”

He would also warn about fire. Often worrying about, “Burning the midnight oil” or “Burning the candle at both ends” and when it comes to customers or friends you’re unhappy with “Don’t burn bridges”. And combining 2 he would say if you’re “firing on all cylinders” you won’t be a “flash in the pan”.

There were a lot of things he said you couldn’t do too. “You can’t judge a book by its cover.” Particularly when you’re buying scrap metal. Or, “You can’t make a silk purse out of a sow’s ear” when you’re selling it. “You can’t have your cake and eat it too.” And when it comes to trying harder, “you can’t get a hit if you don’t swing the bat.” When it comes to people unable to pay a debt he would say: “You can’t squeeze blood out of a turnip.” Speaking of turnips, if you tried to fool him he would remind you that he “didn’t just fall off a turnip truck”.

Needless to say it’s “as clear as mud” that there will be more of these clichés “coming down the pike.”

October Blog

An Inside Look at the Current Market Conditions with Frank Cozzi Sr.

Scrap metal prices are down again in October. With exports of scrap metal down 20%-30% over the past few months and a lack of demand for new steel, prices will continue to erode. Scrap steel prices have already come down close to the $60 per ton number I mentioned a month or two ago and we haven’t reached the end of the year yet.

My phone has been ringing off the hook with calls complaining about low prices. Lower prices affect everyone. We are no happier about it than those who have been calling about the low prices. Though the prices are lower, we at Cozzi Recycling are always priced competitively and have the advantage of clean and organized facilities that make it easier for our customers to get in and out quickly.

They say the cure for low prices is lower prices. I hope this medicine takes affect soon.

September Blog

Scrap metal is feeling the pressure from Steel mill maintenance shut downs, lack of demand for new steel, and continuing imports of steel and scrap steel. The lack of demand for scrap steel in September could have a negative effect on scrap prices for the next few months. We expect prices to fall $20 or more in September. Some steel mill scrap buyers are predicting prices to fall $60 by the end of the year. We hope they are wrong!

August Cozzi Recycling Blog Post

Horses Were Everywhere!

By Frank Cozzi Sr.

In the late 1890s if you tried to cross State Street in downtown Chicago you would have to dodge horses and their wagons or buggies. You would also have to be very careful where you stepped. In late 1908 the first mass produced car, the Model T, was introduced. It was powered by a 22 horse power engine, and in just a few years almost replaced the horse and buggy on State Street and across the nation.

In the mid 1950s, when I was just a kid, there were still a few people that employed work horses. My maternal grandfather was a farmer and years earlier cleared much of the land he farmed with horses. Others were still using horses for certain tasks like plowing fields, skidding fresh cut logs from the forest, and going where tractors could not go.

My paternal grandfather also employed work horses early in his career while he peddled the alleys of Chicago and the western suburbs looking for scrap metal. But by the time I came around working Saturday’s in the scrap yard as a pre-teen, there were only a few old-timers still delivering their scrap metal with a horse and buggy.  I heard one of those old-timers allegedly got mad at his horse, punched it in the nose and knocked it out like Mongo in Blazing Saddles.

Though most of the work horses are gone today we still measure by horsepower. Some of the common cars we drive today have as much as 300 or 400 horsepower engines under their hood. The trucks we haul scrap metal with have 650 horsepower engines. A scrap metal shredder can have anywhere from a 1000 horsepower engine to a 7000 horsepower engine. Yes, that’s a lot of horses and I’m sure glad we don’t have to clean up after them. Uhm let me see, how many shovels would we need?

 

Albert Cozzi on what it means to have a mentor – July 2016

Al Cozzi reflects on his mentors:

As our scrap metal business was growing, my brother said to me that our roles in the company needed to change. We needed to shift our focus from sales and operations to becoming farmers. We needed to hire bright young people to raise and train them to be the next generation of managers.

We are now at that point again in our new business. We are growing Cozzi Recycling, and hiring bright young people. It is up to us to train and mentor this new crop of future superstars.

With this is mind, I began to think of my mentors and the people who helped me become successful.

The first one was my father. One of the greatest lessons he taught me was to always put myself in the other guy’s shoes. He would say, “Think about how your actions make the other guy feel.” He lived his life by that Golden rule and he would always remind me that a man is only as good as his word.

I used to love to go to work with my dad and his brothers. Everyone looked up to them. They taught me the value of hard work. From the time I was a little kid I would work on the “Junk truck” with them and my dad. Peddling the alleys of the west side of Chicago picking up paper, rags and metals, they would sing the chant “Rags old iron” which always sounded like “Yikes ole iron.” I always thought they had voices like Italian Tenors. We would leave early each morning and, without any appointments, we would always come back at the end of the day with a truck burgeoning with scrap metals and paper. They used to let me drive the truck through the alleys as they walked along side singing for material. It was quite the thrill for an 8 year old kid.

When we first started out we worked ridiculously long hours. A typical day started at 5:00 in the morning and lasted until 6:00 at night. We were a customer of a company ran by Ed Lissner. Every morning at 5:30 or 6:00, Ed would call to see what business we were doing with them that day. He taught me the value of persistence. He would call that early because he knew that we were there. Back then, “9 to 5” wasn’t how you earned a living.

We were also a customer of a company owned by Charlie Fritz. I still get together with Charlie for a “cuppa” coffee and to hear his stories. He had built a successful business and we were just starting out. Charlie took me under his wing, he was a man’s man who loved to play poker and to gamble on the horses. By this time, we had switched away from handling paper and rags to handling scrap metal generated by industrial manufacturers. This was part of Charlie’s business as well. But Charlie wanted to buy a horse that was qualified to run in the Kentucky Derby. The name of the horse was Vegas Vick, all too fitting for Charlie Fritz. To raise the money to buy the colt, Charlie said he wanted to sell us his business that served industrial scrap metal customers for $75,000. The business consisted of several trucks running routes serving industrial customers. That was a great deal, but all the money in the world for us at the time. But Charlie understood. We would go to the bank, he would borrow the money and we would pay off the loan from the profits we would earn on the deal.

Shortly after this Ed Lissner approached us about buying his business. The relationship we had developed with him and the fact that we were one of the first to acquire another company in the area made it natural for him to approach us as a potential acquirer. Our relationship gave him a comfort level that made it easy to do a deal together.

Although these are just a few people who have helped me along the way, there are many others who have mentored me throughout the years.