111–120 of 207 posts
Other supplementary info: Steel Ind. Summary, 2021: https://www.trade.gov/sites/default/files/2021-03/exec%20sum... World Steel Production, Last 50 Years: https://elements.visualcapitalist.com/50-years-of-global-ste... Steel Crisis and Aftermath: https://en.wikipedia.org/wiki/Steel_crisis World Steel Production since 1800's: https://www.researchgate.net/publication/343071585/figure/fi... How Steel Production Trends w…
> US Steel has agreed to be bought by Nippon Steel, Japan’s largest steelmaker, in a $14.1 billion deal. > Earlier this summer the United Steelworkers union vowed to only support a proposed offer by another unionized American steel company, Cleveland Cliffs, to buy US Steel, in a cash and stock deal then valued at $32.53 a share, or 40% less than Nippon’s all cash offer. The US Steel board rejected that offer and sta…
I guess steel isn't considered a critical asset for US industry to be in foreign hands.
Earlier quoted context omitted.
The glaring issue I see is that if "integrated" mills start shutting down, where will the old steel scrap for the mini-mills eventually come from? Someone somewhere has to be making new steel.
I’m often amazed at the giant steel structures and vehicles that sit decaying along the side of highways for decades. Whether it’s a case of nobody knows who owns them, regulatory hurdles, economics of breaking it down, or some other reason, I’ve often wondered why something like entire trains can just sit collecting graffiti after a railroad shuts down. Does anyone have any insight? Is there not an abundance of mate…
Where it's borderline, someone owns it and if you steal it you might get found out eventually.
Where it's very profitable, it gets stolen and reprocessed unless guarded (see: copper).
See https://chitransit.org/topic/4239-ex-cnw-pullman-rta-cars-in... for an example.
This is very bad for America. We need to keep some degree of industrial steel capacity capabilities in house. For perspective, the vast majority of global steel capacity is in China, which made over half of global steel output in 2020 (its almost a trillion dollar market), while the United States accounted for approximately 4%. I mean Nippon is a great company, but this is a critical piece of infrastructure at a time…
How in-house does it need to be? The actual physical facilities aren't being shut down; they're just under new ownership and management. And Nippon Steel is located in Japan, which is such a dependable ally of the US that I'm politely trying not to use the phrase "vassal state." Also in the US, we've got Steel Dynamics (producing 75% as much as US Steel), Cleveland-Cliffs (approximately tied with US Steel), and Nucor…
Earlier quoted context omitted.
I believe Toyota @ NUMMI actually showed that they could win over the union and get everyone bought into their lean culture, but it took time / patience. Notably, this plant was considered a failure before because the of the antagonism between labor/mgmt led to really toxic behavior. GM blamed the union labor, but Toyota ended up firing the managers and got buy in from labor because of their long-term / labor-centric…
And yet NUMMI failed. https://www.popularmechanics.com/cars/a5514/4350856/ Then the building became Solyndra, which also failed. GM, of course, is one of the stupidest companies on Earth, so they'd have trouble selling free beer to college football fans. If you want to blame them you won't get any argument from me.
I keep asking myself how is GM so stupid.
Compare the $14B cost of USS with the $44B paid (stupidly) for Twitter
Earlier quoted context omitted.
How in-house does it need to be? The actual physical facilities aren't being shut down; they're just under new ownership and management. And Nippon Steel is located in Japan, which is such a dependable ally of the US that I'm politely trying not to use the phrase "vassal state." Also in the US, we've got Steel Dynamics (producing 75% as much as US Steel), Cleveland-Cliffs (approximately tied with US Steel), and Nucor…
US Steel was a major contributor of steel for the WWII military machine. Honest question: if WW3 were to start, would we be able to appropriate Nippon-owned USS factories for wartime use?
Didn't the US government stop this exact same thing from happening 20 years ago over national security concerns?
an easy response is "Our government no longer believes steel is critical to our national security" Cant find mention of US steel being sold, perhaps this? > In 1984, the federal government prevented U.S. Steel from acquiring National Steel, and political pressure from the United States Congress, as well as the United Steelworkers (USW), forced the company to abandon plans to import British Steel Corporation slabs htt…