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US Steel's stock went from $43 a share to under $12 a share in just 2 years. Not a good sign, and it doesn't seem like things are going to be getting any better for the steel market.
Steel has been a struggling industry for quite some time. Not sure what can be done to change that, other than what they are doing now... Using technology to improve efficiency and quality of product. But that also means jobs will continue to be placed on the chopping block, because increased productivity in the absence of growing demand means fewer workers will be needed.
U.S. Steel’s stock closed down Friday about 11% at $11.91 as the company announced a dividend cut and forecast a wider-than-expected loss in the fourth quarter. The company’s shares have plunged 75% since March 1, 2018, when Trump announced his decision to crack down on foreign steel imports.
Apparently, stockholders have not read the optimistic articles linked on this forum.
The links I provided in the post your are replying too are for facilities in PA and AK. US steel has 0 locations in Mexico and I cannot find any reference to them building anything there.
I ran my own business for 30 yrs and finally retired when Obama told me I didn't build it.
He's right. You didn't build the schools or educate the teachers which educated you and your workers, you didn't built the roads which allowed your products to be brought to market or customers to visit your place of business, you didn't build the internet or the technology which helped your business to advance.
Obama was pointing out the VALUE of education, training, research and technology - and, yes, roads and bridges - and why this country should invest in them. Without any of those, you would not have succeeded.
Not a one of us would have what we have today without them.
This is what he said he meant:
"Of course Americans build their own business. Everyday hardworking people sacrifice to meet a payroll, create jobs, and make our economy run. And what I said was that we need to stand behind them, as America always has. By investing in education, training, roads and bridges, research and technology."
Here is his actual comment - verbatim:
"Look, if you've been successful, you didn't get there on your own," he said.I'm always struck by people who think, well, it must be because I was just so smart. There are a lot of smart people out there. It must be because I worked harder than everybody else. Let me tell you something -- there are a whole bunch of hardworking people out there.
"If you were successful, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this unbelievable American system that we have that allowed you to thrive.Somebody invested in roads and bridges.
"If you've got a business -- you didn't build that," he continued. "Somebody else made that happen. The Internet didn't get invented on its own. Government research created the Internet so that all the companies could make money off the internet.
The point is, is that when we succeed, we succeed because of our individual initiative,but also because we do things together. There are some things, just like fighting fires, we don't do on our own."
Both statements, if read carefully, say exactly the same thing. Nowhere does Obama say your own personal initiative, ingenuity, and hard work had no value.
Last edited by Ariadne22; 12-22-2019 at 12:31 AM..
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