Nippon Steel and U.S. Steel Merger
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wrote on 6 Sept 2024, 11:55 last edited by
I see problems from a strategic standpoint.
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wrote on 6 Sept 2024, 14:25 last edited by
Whatever Ms. Harris says is fine by me.
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wrote on 6 Sept 2024, 16:50 last edited by
@Jolly said in Nippon Steel and U.S. Steel Merger:
I see problems from a strategic standpoint.
What problems you have in mind? Care to elaborate?
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wrote on 6 Sept 2024, 16:56 last edited by
Does he really have to? After 20 years of this?
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wrote on 6 Sept 2024, 17:19 last edited by
@Mik said in Nippon Steel and U.S. Steel Merger:
Does he really have to? After 20 years of this?
He responded after 20 years of whatever "this" is, I figure he might have something new to say, so giving him the benefit of the doubt and invited him to elaborate.
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wrote on 6 Sept 2024, 22:40 last edited by
Shitty policy. The jobs would stay here under the purchase anyway.
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wrote on 6 Sept 2024, 23:35 last edited by
The Japanese should buy Boeing. Maybe they'd get something to fly correctly.
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L LuFins Dad referenced this topic on 27 Sept 2024, 02:40
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wrote on 18 Jun 2025, 17:12 last edited by
https://www.nytimes.com/2025/06/18/business/us-steel-nippon-acquisition.html
Nippon Steel Completes Its Acquisition of U.S. Steel
The deal gives the White House extraordinary control over U.S. Steel as part of a pact to alleviate national security concerns. -
wrote on 18 Jun 2025, 17:17 last edited by
I was surprised no one brought up Trump's pseudo-nationalization of it earlier. Imagine what a president Warren (type) might do with such power over them.
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I was surprised no one brought up Trump's pseudo-nationalization of it earlier. Imagine what a president Warren (type) might do with such power over them.
wrote on 19 Jun 2025, 12:25 last edited by@jon-nyc said in Nippon Steel and U.S. Steel Merger:
I was surprised no one brought up Trump's pseudo-nationalization of it earlier. Imagine what a president Warren (type) might do with such power over them.
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Let’s not pretend that Trump and Warren are leagues apart when it comes to economic issues. Trump’s closer to Bernie than he is DeSantis.
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My understanding is that the golden share only allows them to ensure that the promised investments into the US Steel factories actually occur, and that production and other elements aren’t offshored. Still problematic, but not that problematic..
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wrote on 19 Jun 2025, 13:33 last edited by
From Cato’s Scott Linsicome:
This perpetual golden share prevents any of the following from occurring without the consent of the president of the United States or his designee:
Relocate U.S. Steel’s headquarters from Pittsburgh, Pennsylvania.
Redomicile outside the United States
Change the name of the company from U.S. Steel
Reduce, waive, or delay the $14 billion of near-term investments into U.S. Steel
Transfer production or jobs outside the United States
Close or idle plants before certain timeframes other than normal course temporary idling for safety, upgrades, etc.
Other protections regarding employee salaries, anti-dumping pricing, raw materials and sourcing outside the U.S., acquisitions, and more.
The AP adds that the golden share also gives the president “the authority to name one of the corporate board’s independent three directors and veto power over the other two choices.” Presumably other terms will emerge soon, but—regardless—these details are sufficient to turn my views on the U.S. Steel deal from vigorous support to aghast opposition.