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originally posted by: Phage
a reply to: musicismagic
Two reasons, probably.
1) There is not enough of the stock they require which is produced in America.
2) American steel costs too much.
originally posted by: musicismagic
a reply to: soberbacchus
Why not just use American steel. Simple solution, don't you think.
originally posted by: matafuchs
So what happened since then? Just a tariff?
Link
The founder stepped down as CEO in 2015. That usually means they are cashing out and sometimes preparing for a buy out. Kids are still there and I would says this is blaming someone else for wanting to close. It has happened for decades....
originally posted by: UKTruth
originally posted by: Phage
a reply to: musicismagic
Two reasons, probably.
1) There is not enough of the stock they require which is produced in America.
2) American steel costs too much.
Well Chinese steel is actually more expensive than US steel was just a couple of years ago. There's been a spike in the spread recently, but any company that is not hedging materials cost is not really fit to be in business anyway.
originally posted by: UKTruth
a reply to: soberbacchus
Dig in.
www.bls.gov...
The labour market is doing fine.
You can, and no doubt will, highlight every company that fails, but it was ever thus.
Only a complete moron judges economic direction on highlighting the losers.
originally posted by: UKTruth
All companies that imported cheap supplies from abroad whilst STILL increasing prices and swelling their margins are going to face a harsh reality.
Long-term that is good. If there is demand for a product then a company will spring up to make it at a price the satisfies the value equation.
I do laugh at lefties whining about greedy companies having to accept lower profits.
Drug addicts have to go through cold turkey before they no longer need their highs.
we could cut back some of the corporate welfare going to big oil and other large corporations and end up with zero net increase to the taxpayer.
originally posted by: BlueAjah
US Steel Manufacturer stocks are up, because demand is increasing. Increased demand will result in existing companies ramping up production, and new manufacturing will spring up to meet demand.
This initial struggle was necessary in order to encourage this increase in US Steel production. Without the initial struggle, the US would have continued to import.
In the long run, this will make our country stronger and more independent. This is good for US security.
US Manufacturing will not be dependent upon other countries if we increase our own production of raw materials. I find it hard to believe that some people are narrow minded and are not seeing the big picture here, and looking into the future.