100 Percent Fed Up By Danielle
U.S. Steel, once the largest steel producer and world’s largest corporation, agreed to be bought by Japan’s largest steelmaker, Nippon Steel, for $14.9 billion.
The company, headquartered in Pittsburgh, is now the world’s 24th-largest steel producer and the second largest in the United States behind Nucor Corporation.
The deal remains pending due to regulatory and shareholder approval.
“Under terms of the deal, US Steel’s operations will retain its name and will continue to have a headquarters in Pittsburgh. But the deal could still stir opposition,” CNN reports.
“To say we’re disappointed in the announced deal between U.S. Steel and Nippon is an understatement, as it demonstrates the same greedy, shortsighted attitude that has guided U.S. Steel for far too long,” the United Steelworkers Union said.
“Our union intends to exercise the full measure of our agreements to ensure that whatever happens next with U.S. Steel, we protect the good, family-sustaining jobs we bargained,” the statement added.
The union hopes to block the deal…
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Afraid another example of “Short sightedness”. Selling or even allowing our major US companies to sell to foreign entities should not only be discouraged but illegal. Not that I feel the government has the right to say how “any” business in the US is run, inviting other countries into our nation in the interest of more $’s is insane. The USA needs to take stock of what we want and expect our country to look like and get with the program. While we may all be interconnected by todays communications, that doesn’t mean we should give up our standards of living and the principals that have made this country great. Trust me, “The World IS Watching”!!