U.S. Steel CEO Says 10,000 Jobs To Be Brought Back All Because Of Trump
« prev   random   next »

7
2

U.S. Steel CEO Says 10,000 Jobs To Be Brought Back All Because Of Trump

By zzyzzx following x   2016 Dec 7, 6:13pm 2,951 views   25 comments   watch   sfw   quote     share    


http://thetruthdivision.com/2016/12/breaking-u-s-steel-ceo-says-10000-jobs-ready-to-be-brought-back-thanks-to-trump/

U.S. Steel CEO Mario Longhi admitted that manufacturing challenges exist exclusively in the United States thanks to oppressive regulation set forth by President Obama.

Longhi is willing to bring as many as 10,000 jobs back to the United States because of the prosperity predicted with the advent of the incoming Trump administration. Jobs were lost to lay offs and downsizing during the Obama administration, and many employees found work overseas.

Europe and other countries have not established the same set of confining rules for manufacturing companies that American workers and business owners face.

There’s been little confidence among companies in the United States about their ability to compete in a global economy because of burdensome air pollution and water standards that are downright absurd. Longhi mentions the example of having to treat the water his company uses so that it is more pure than what’s found in nature.

#trump #jobs

2   BayAreaObserver   ignore (1)   2016 Dec 7, 7:26pm   ↑ like (2)   ↓ dislike (0)     quote      

And nary a mention of the Global Steel Glut that was the "problem" for job losses both here and Europe as late as a week or so ago.

http://www.dw.com/en/thyssenkrupp-profit-squeezed-by-global-steel-glut/a-36502748

http://www.euronews.com/2016/11/26/germanys-merkel-says-g20-must-tackle-global-steel-glut

No mention of the time line between willing to and the actual hiring which is totally dependent on market conditions improving long term. At least he's got a pool of waiting employees in Granite City, Illinois to start the process. Funny he didn't mention his $8.9 million gain on the stock he dumped in the company on November 28th.

http://www.nwitimes.com/business/steel/longhi-other-u-s-steel-execs-cash-in-on-high/article_e2b75903-c365-5a55-9f43-db0fddfd2554.html

Another funny thing - he failed to mention when he joined U.S. Steel in 2012 as the steelmaker’s problems mounted. They included a 90 percent drop in the company’s share price; the failed acquisition of Canadian steelmaker Stelco; an ill-advised investment at its Gary (Ind.) Works in an effort to find a substitute for coke, the baked coal that fuels blast furnaces; and a costly software project.

The company has said little about the software initiative, other than a comment by Mr. Surma in April 2013 that it was expected to cost “multiple hundreds of millions” of dollars. One former employee put the price tag at $1 billion, a figure that matches with one software industry official’s estimate. The company declined comment.

http://www.post-gazette.com/business/2014/09/21/Elimination-of-U-S-Steel-audit-staff-puts-human-face-on-Carnegie-Way/stories/201409210023

But all systems go now those regulations are going away

3   BayAreaObserver   ignore (1)   2016 Dec 7, 7:29pm   ↑ like (1)   ↓ dislike (0)     quote      

And then there's Wilbur Ross - Ross restarted idled steel mills in East Chicago, Burns Harbor and Riverdale but cut employment, wages and benefits. He for instance eliminated more than 500 jobs at the Acme strip mill in Riverdale, according to Times archives. ISG also eliminated thousands of jobs from Cleveland-based LTV and Pennsylvania-based Bethlehem.

But the mills stayed open and Ross sold them to ArcelorMittal precursor Mittal Steel for $4.5 billion, pocketing $300 million in the process.

http://www.nwitimes.com/business/steel/trump-nominee-wilbur-ross-a-divisive-figure-in-steel-industry/article_6ff2b253-45be-576c-99c9-91837c710a06.html

Good old Wilbur...Commerce Secretary nominee

4   HEY YOU   ignore (7)   2016 Dec 7, 7:30pm   ↑ like (1)   ↓ dislike (0)     quote      

zzyzzx says

Longhi is willing to bring as many as 10,000 jobs back to the United States

That's what great american PATRIOTS do.Outsource jobs & then bring them back so they can take credit.
He will probably pay workers $0.10 over minimum wage.

5   BayAreaObserver   ignore (1)   2016 Dec 7, 7:34pm   ↑ like (1)   ↓ dislike (1)     quote      

We need more great American Patriots like Wilbur so the whining middle class can be out of its' misery once and for all.

6   BayAreaObserver   ignore (1)   2016 Dec 7, 7:47pm   ↑ like (0)   ↓ dislike (0)     quote      

And what about those good high paying jobs with benefits or is that an after thought. Hell at the rate the incoming administration is going I wouldn't be surprised if they resurrect Sparrows Point and convert those old mills in the Lehigh Valley back from Casinos into running mills again.

I forgot to mention all the laid off workers in Birmingham, Alabama since Illinois is closer to Indiana and logistically it works out easier for future photo ops.

Doing well on the prune juice thanks - thinking about making my own blend. 6 Ex-Lax and quart of pure 100% organic prune juice - what do you think ? I do appreciate you inquiring as to my health though.

7   Strategist   ignore (1)   2016 Dec 7, 8:50pm   ↑ like (3)   ↓ dislike (0)     quote      

Ironman says

BayAreaObserver says

6 Ex-Lax and quart of pure 100% organic prune juice - what do you think ?

Don't go too far from the house (and bathroom)...

May as well go for a colonoscopy. You're half way there already.

9   joeyjojojunior   ignore (1)   2016 Dec 8, 5:13am   ↑ like (0)   ↓ dislike (0)     quote      

"We NEED people in the administration who know how to MAKE money not SPEND money"

Sure, he knows all right. Cut wages. Cut pensions. Cut benefits. Move jobs overseas. That's how you make money.

10   Quigley   ignore (0)   2016 Dec 8, 5:44am   ↑ like (1)   ↓ dislike (1)     quote      

Boeing better have some much better airplane models in development quick then! Everyone knows that once you manufacture a product in a China the designs are immediately stolen and a Chinese company arises making the same exact product for much less. Talk about cutting your own throat! This will go down as one of the stupidest moves Boeing has made.

11   BayAreaObserver   ignore (1)   2016 Dec 8, 5:53am   ↑ like (0)   ↓ dislike (0)     quote      

Longhi talks while Cliffs Natural Resources and Arcelor Mittal act in the U.S. and for the most part go unnoticed. Cliffs and Mittal have made investments and brought jobs to the Iron Range in Minnesota for new taconite plants as well as a new steel plant in Detroit.

http://www.startribune.com/new-plant-and-revived-united-taconite-brightens-iron-range/389940771/

http://www.hibbingmn.com/news/local/mp-arcelormittal-sign--year-power-deal/article_bafc916e-94a9-11e5-acc9-5f1f025059ff.html

http://www.freep.com/story/money/cars/2016/11/22/steel-supplier-detroit-arcelormittal/94269036/

Suspect that what Longhi really wants is to avoid spending money on things such as agreeing to undertake replacing a cracked, pollution-emitting bell top on a blast furnace used for making molten iron at its Great Lakes Works facility on Zug Island and the $800,000 cost for removing contaminated transformers at its Zug Island and Gary facilities amongst other things.

http://www.freep.com/story/news/local/michigan/wayne/2016/11/23/us-steel-fined-michigan/94338764/

Funny thing I noticed while reading all of the articles, the steel industries woes in this country are blamed on collapse of global iron ore prices and by a rash of illegally dumped steel imports from China, Korea, England, Australia, Brazil and other nations but nothing about oppressive regulations.

Then again no one wants to comment how closely the future success or failure of many of these mills is tied to the success of the U.S. Auto Industry which is getting a bit long in the tooth now. No one really wants to admit to buying all that imported steel (except the Bay Bridge project) but it sure as hell went somewhere in this country besides the bay bridge.

12   zzyzzx   ignore (1)   2016 Dec 8, 7:09am   ↑ like (0)   ↓ dislike (0)     quote      

BayAreaObserver says

And what about those good high paying jobs with benefits or is that an after thought. Hell at the rate the incoming administration is going I wouldn't be surprised if they resurrect Sparrows Point and convert those old mills in the Lehigh Valley back from Casinos into running mills again.

Last time I past Sparrows Point, the mill was still there. Kind of surprised it hasn't been turned into upscale housing, since it's prime waterfront real estate.

13   finehoe   ignore (0)   2016 Dec 8, 8:07am   ↑ like (0)   ↓ dislike (0)     quote      

zzyzzx says

manufacturing challenges exist exclusively in the United States thanks to oppressive regulation set forth by President Obama.

Such as?

14   TwoScoopsPlissken   ignore (0)   2016 Dec 8, 8:25am   ↑ like (1)   ↓ dislike (0)     quote      

Quigley says

Boeing better have some much better airplane models in development quick then! Everyone knows that once you manufacture a product in a China the designs are immediately stolen and a Chinese company arises making the same exact product for much less. Talk about cutting your own throat! This will go down as one of the stupidest moves Boeing has made.

Yup. No doubt CoMac is rubbing their hands with glee, knowing the government is going to steal Boeing's secrets from the Factory and give it to them. They're working on 737/Airbus competitor planes and this new Boeing factory will really help as a source of manufacturing secrets.

15   BayAreaObserver   ignore (1)   2016 Dec 8, 8:37am   ↑ like (0)   ↓ dislike (0)     quote      

zzyzzx - Just guessing the reason Sparrows Point is sitting there undeveloped is the cost and potential litigation from cleaning up the site from God only knows what has leached into the soil over the decades. "Cradle to Grave" responsibility for hazardous waste puts a damper on that sort of development, saw several otherwise prime sites in NoCal left untouched even after the physical structures were removed for the same reason. No doubt the cost to demolish vs. scrap value of the metal plays into it as well for the present time.

Now if those rules concerning Cradle to Grave, asbestos removal and similar are gutted by the incoming administration, then we have an entirely new ball game and Sparrows Point along with many other sites may get to see housing etc. developed.

16   Entitlemented   ignore (0)   2016 Dec 8, 8:44am   ↑ like (1)   ↓ dislike (0)     quote      

BayAreaObserver says

Then again no one wants to comment how closely the future success or failure of many of these mills is tied to the success of the U.S. Auto Industry which is getting a bit long in the tooth now. No one really wants to admit to buying all that imported steel (except the Bay Bridge project) but it sure as hell went somewhere in this country besides the bay bridge.

You have the most accurate characterization of the Steel Mill Manufacturing challenges, benefits, and limitations. Take tomorrow off............

17   Entitlemented   ignore (0)   2016 Dec 8, 8:51am   ↑ like (1)   ↓ dislike (0)     quote      

Thunderlips is Tovbot2 says

Yup. No doubt CoMac is rubbing their hands with glee, knowing the government is going to steal Boeing's secrets from the Factory and give it to them. They're working on 737/Airbus competitor planes and this new Boeing factory will really help as a source of manufacturing secrets.

Any comments on having both world leading AC manufactures in China, its effects on the EU and US economically?

Any comments on how China could within a few year control the destiny of Air Travel?

Any comments on how China could use this to make all type of other AC, and if they employ evil, every type of weapon and delivery system, while the US and EU will be segregated out of the ability to have jobs, national defense.

Is this not trading the free worlds sovereignty for the sake of NAFTA-like outsourcing upon steroids?

18   BayAreaObserver   ignore (1)   2016 Dec 8, 9:01am   ↑ like (0)   ↓ dislike (0)     quote      

@Entitlemented - Thanks, will take tomorrow off - before I go, U.S. Steel is also saddled with a lot of "legacy" plants from the 1950s and before, has always been a day late and a dollar short to keep up with let alone get ahead of the competition and the cost to make those plants competitive without a wholesale gutting of environmental laws and re-negotiating the Steelworkers contracts is prohibitive and not in their favor right now - maybe after January 20th next year. Don't forget Longhi's ties to the South American steel industry. C-Ya.

19   Entitlemented   ignore (0)   2016 Dec 8, 9:08am   ↑ like (0)   ↓ dislike (0)     quote      

Weve all watched while Continental and US AIR have been consumed during the "time of scarcity" engineered by NAFTA/Clinton/Obama.

This is trickle up economics, where viable firms that serve all the US, had the economic rug harmed by NAFTA in more than one way: 1) Individuals hurt by CRA and NAFTA are traveling less, 2) More Buracrasy is happening due to terrorism and the costs of insurance, indemnity, etc.

Now with the Democrats "trickle up" economics, not one person who made these rules never worked making a resistor, let alone work in an aircraft factor. When a bunch of Lawyers and Politicians with no experience in working start making decision for the rest of its citizens, its called __________?

Trickle Up economics is really Trickle Away economics.

20   BayAreaObserver   ignore (1)   2017 Dec 23, 1:26am   ↑ like (0)   ↓ dislike (1)     quote      

Trump Promised to Protect Steel. Layoffs Are Coming Instead. In September, ArcelorMittal, which owns the mill, announced that it would lay off 150 of the plant's 207 workers next year. While the cuts will start with the most junior employees, they will go so deep that even workers with decades of experience will be cast out.

"I told my son, 'Christmas is going to be kind of scarce, because mommy's going to lose her job soon,'" said Kimberly Allen, a steelworker and single parent who has worked at the plant for more than 22 years. On the seniority list, she's 72nd.

The layoffs have stunned these steelworkers who, just a year ago, greeted President Trump's election as a new dawn for their industry. Mr. Trump pledged to build roads and bridges, strengthen "Buy America" provisions, protect factories from unfair imports and revive industry, especially steel.

But after a year in office, Mr. Trump has not enacted these policies. And when it comes to steel, his failure to follow through on a promise has actually done more harm than good.

According to the American Iron and Steel Institute, which tracks shipments, steel imports were 19.4 percent higher in the first 10 months of 2017 than in the same period last year.

In April, the president ordered parallel investigations into imports of steel and aluminum under the little-used Section 232 of a 1962 trade law, which permits sweeping restrictions to protect national security.

Earlier this year, tariffs seemed imminent. Wilbur Ross, the commerce secretary, said in late May that he expected to conclude the steel investigation by the end of June.

And in early June, Mr. Trump told a crowd in Cincinnati, "Wait till you see what I'm going to do for steel and your steel companies," vowing that he would "stop the dumping" of products at superlow prices by other countries.

"We'll be seeing that very soon. The steel folks are going to be very happy," he said.

But the announcement never came.

More: https://www.cnbc.com/2017/12/22/trump-promised-to-protect-steel-layoffs-are-coming-instead.html
Also At: http://fortune.com/2017/12/22/steelworkers-trump-layoffs-loom-arcelormittal-mill-pennsylvania/
21   BorderPatrol   ignore (1)   2017 Dec 23, 2:59am   ↑ like (0)   ↓ dislike (0)     quote      

$1.4Trillion give away and only 10K jobs came back?

That is $140M a job. All hail trump the GREAT job negotiator!
22   APOCALYPSEFUCKisShostikovitch   ignore (26)   2017 Dec 23, 4:45am   ↑ like (0)   ↓ dislike (0)     quote      

AMERICA! needs to be sucking this Longhi's dick, everyone in the country, no exceptions, because he produced a press release that MAGA!'ed all over TRUMPLIGULA!'s face and made it look like he was doing something for industry that would have otherwise been impossible while the criminally insane nazi jaihadi Obama held AMERICA! hostage.
23   Quigley   ignore (0)   2017 Dec 23, 5:59am   ↑ like (1)   ↓ dislike (1)     quote      

Article hides the fact that this wasn’t US Steel that was laying off.
Typical for lying Democrats.
24   HappyGilmore   ignore (1)   2017 Dec 23, 6:04am   ↑ like (2)   ↓ dislike (1)     quote      

Quigley says
Article hides the fact that this wasn’t US Steel that was laying off.
Typical for lying Democrats.


Because the point of the article was that Trump lied about protecting the steel industry.
25   BayAreaObserver   ignore (1)   2017 Dec 23, 8:38am   ↑ like (0)   ↓ dislike (1)     quote      

"Article hides the fact that this wasn’t US Steel that was laying off. Typical for lying Democrats."

Article never was about U.S. Steel now was it ?

As for those 11,000 jobs U.S. Steel is going to create does that include bringing back all of the thousands that have been laid off in the last few years and that is just as U.S. Steel?

By the way where are those jobs and when do they start ?

Comment as anon_66d5f or log in at top of page: