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U.S. Steel Shareholders Approve Sale to Japan's Nippon Steel

wsj.com

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Re: U.S. Steel Shareholders Approve Sale to Japan's Nippon Steel

#41

Post by dclowd9901 »

blackeyeblitzar wrote: post #29
jessriedel wrote: post #12

Strongly recommended blog post: ‘“No inventions; no innovations," a History of US Steel’ by Brian Potter https://www.construction-physics.com/p/no-inventions-no-inno...

Thanks for sharing. This is a disturbing read in some ways: > To maintain prices in the face of fluctuating demand, Gary would gather the industry’s leadership together in regular “Gary Dinners,” where price levels would be agreed upon and Gary would “exhort the chairmen, presidents, or other major owners of steel companies to maintain rank.” Those who refused to cooperate would be “disciplined” by the others. Many f…

Kinda need them now. The oligopoly game is currently bleeding the middle class dry (what was left of it anyway).

Re: U.S. Steel Shareholders Approve Sale to Japan's Nippon Steel

#42

Post by anonymousab »

advisedwang wrote: post #2

Crazy that congress is fighting over ownership of TikTok, but letting a critical piece of US manufacturing be foreign owned with hardly a word.

Biden talked about it last month and there have been a couple of small grumblings in Congress since: https://www.reuters.com/markets/commodities/us-senator-urges...

Re: U.S. Steel Shareholders Approve Sale to Japan's Nippon Steel

#43

Post by pfdietz »

sanxiyn wrote: post #7
echelon wrote: post #3

Where are the subsidies for US Steel? This seems like a critical input for national defense and industry. Even though the Japanese are allies, we should always have a domestic iron in the fire.

Nucor exists. US Steel is not #1, even in US.

I remember when Nucor was the scrappy small competitor. It's quite a story, that company.

Re: U.S. Steel Shareholders Approve Sale to Japan's Nippon Steel

#45

Post by hx8 »

kjkjadksj wrote: post #30
Loughla wrote: post #13

Earlier quoted context omitted.

For now? I am pretty sure that at one point China was an ally and Japan an enemy. I think.

Japan is littered in American military bases and personnel. It is practically a territory with a fig leaf of domestic policy self determination.

Except the yen is the third most traded currency globally and Japan has the 4th largest economy in the world. It's true that their military strategic position is heavily dependent on the alliance with the US, but they performed exceptionally well with their 'fig leaf' of 'self determination.'

Re: U.S. Steel Shareholders Approve Sale to Japan's Nippon Steel

#46

Post by fragmede »

bsder wrote: post #21
advisedwang wrote: post #2

Crazy that congress is fighting over ownership of TikTok, but letting a critical piece of US manufacturing be foreign owned with hardly a word.

You can "solve" Japan owning US Steel by the army showing up tomorrow. You can't move a steel mill. You can't "solve" TikTok short of shutting them down.

Require Department of Homeland Security agents be given access to systems at TikTok to monitor and modify the algorithm to their liking instead of just shutting the whole thing down.

Re: U.S. Steel Shareholders Approve Sale to Japan's Nippon Steel

#47

Post by jandrewrogers »

advisedwang wrote: post #2

Crazy that congress is fighting over ownership of TikTok, but letting a critical piece of US manufacturing be foreign owned with hardly a word.

It is no different than the US Congress granting ASML, a Netherlands company, a license to produce EUV lithography technology. Japan and the Netherlands are closely integrated geopolitically with the US for all practical purposes. China, by contrast, is aggressively adversarial in its geopolitical ambitions.

The difference really couldn't be more stark.

Re: U.S. Steel Shareholders Approve Sale to Japan's Nippon Steel

#48

Post by JumpCrisscross »

blackeyeblitzar wrote: post #39
adamisom wrote: post #31

Earlier quoted context omitted.

>Maybe we just need higher taxes for the biggest corporations. Seems to me that'd exacerbate the problem. We need more efficient business, not less. (An evergreen need, while !utopia.)

Why? I'm not trying to troll, but I am wondering what the goal is? To me it seems like encouraging fair competition and letting deserving smaller companies survive is a sort of efficiency. A lot of big companies seem to be big because they're doing something shady - like the US steel example, or Microsoft with browsers (and now AI), or Apple with app stores and payments.

> what the goal is?

Economies of scale.

Re: U.S. Steel Shareholders Approve Sale to Japan's Nippon Steel

#49

Post by [deleted] »

fragmede wrote: post #46
bsder wrote: post #21

Earlier quoted context omitted.

You can "solve" Japan owning US Steel by the army showing up tomorrow. You can't move a steel mill. You can't "solve" TikTok short of shutting them down.

Require Department of Homeland Security agents be given access to systems at TikTok to monitor and modify the algorithm to their liking instead of just shutting the whole thing down.

[deleted]

Re: U.S. Steel Shareholders Approve Sale to Japan's Nippon Steel

#50

Post by selimthegrim »

jandrewrogers wrote: post #47
advisedwang wrote: post #2

Crazy that congress is fighting over ownership of TikTok, but letting a critical piece of US manufacturing be foreign owned with hardly a word.

It is no different than the US Congress granting ASML, a Netherlands company, a license to produce EUV lithography technology. Japan and the Netherlands are closely integrated geopolitically with the US for all practical purposes. China, by contrast, is aggressively adversarial in its geopolitical ambitions. The difference really couldn't be more stark.

Didn’t they shut down Nikon’s EUV program and give the IP to ASML?
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