Yep. Congress has a better average return on their investments than Warren Buffet and they can use their insider information with impunity. There needs to be insider stock trading regulations for Congress.
It really doesn't matter at this point. We haven't made steel in decades after the collapse of the industry in the US. We make some but alot of it are being contracted with the federal government anyways.
Imagine the US blocking the sale of your company becasue they deem it a national security interest but all the policies they have passed over the decade has made your company a fraction of what it used to be, you cant have it both ways. If they are going to block the sale then they need to buy it themselves if its so important
Just wait until Americas people care enough to look at actual and factual numbers. Even if it keeps up the heartless abandon, non reality realization, and extreme ignorance, It will still collapse.
Back in the 1980s when Nippon bought National Steel they honored the US unions and workers benefits the entire time they owned it. It wasnt until for some dumb reason in the late 90s when Nippon hired executives from US steel to run National Steel, did corruption and finally bankruptcy and closure happen. I hope if Nippon does buy US steel they remove the current US steel exceutive you have driven US steel into the ground.
As a lifelong Pittsburgher, I think this horse left the barn 40 years ago, for the most part. Grew up with neighbors and friends who worked at the mills. I could sometimes smell the coke ovens from the Clairton Works in the morning. Lots of folks had to move from PA to find work in the 70s and 80s when most of the mills shut down. For the most part, steel’s been mostly gone from Western PA for decades. It’s a mere shadow of what it was for almost half a century. Check out the book “And the Wolf Finally Came” for more information on the history of the decline of the American steel industry.
But it doesn't actually mean to sell the operation and to sell the Maine state of the business to some type of foreign entity is that when it comes down to a need for that particular industry we have no say so
Yeah true. But just a little factoid for a “fellow Pittsburgher” US Steel. Specifically the Edgar Thomson plant . Is responsible for 93% of the steel made bought and sold within the US . Yes it used to be much much more . Say 93% of the world’s steel came out of the Mon Valley. The writing was on the wall long ago. But I just want to make sure you have the correct statistics before u start leaning on the side. Of well who cares . It’s a big deal. It’s a Really Big Deal
US steel needed a major remodel. Too much garbage plate and quality control problems. And If Japan wants to buy it, thats great. The Japanese generally have great manufacturing and could improve the quality of the products immensely. A hell of a lot better than if China or India tried to buy it.
There are products that must be produced locally. What will happen if the trades are interrupted in an emergency? Globalization only works in an ideal world, and our world is far from ideal.
I would be far more upset if they were selling it to China or Iran. Japan is our ally and also our eyes into Asia, we need them as they act as a satellite-state for China. Basically, we use Japan to spy on China, but what does Japan get out of it? This is one of those symbiotic relationships where two different species help each other. South Korea too, but Japan is more fun than South Korea.
@@iridefast1 actually Japan is less secure allying itself with the US and making themselves the primary war front if it happens. They would be the most secure if they become a neutral state like Switzerland.
Considering that the largest oil refinery in the US was sold to a Saudi billionaire a few years ago, without protest from the Government, a defunct steel company shouldn't represent much of a national defense problem either. America produces specialized metal products nowadays, rather than bulk steel but, with the US cutting ties with much of the rest of the world, (According to Peter Zeihan), we might revitalize the rust belt yet.
I understand the concerns about this purchase of the steel mill. What about the purchasing of other American companies to China owned companies as Tyson foods? The Arabians in Arizona??
The only American offer on the table was about $7Bn. Nippon offered more than twice that. The "national security" fears are a crock - the Japanese are American allies and see America as a growth market in the future as it "builds back better" (or at least does some basic maintenance after 40 years of under investment in infrastructure). You don't spend almost $15bn and then shut everything down.
imagine if all the money biden has been giving to ukraine and now Israel and Now the immigrants we could havee bailed out the US steel company, proved that big tech doiesnt want to invest in america. APPLE COULD buy that easy, Elon also. Elon should buy it. He bought TWITTER
@@markwilliams4525True about the unions. But CEOs and Boards are also not interested in protecting American industry or workers. I hope the Japanese can provide crucial leadership and reinvigorate this industry in the USA.
Japan is one of our closest allies. Why would there be controversy for them but not the UK or Israel? I think any foreign company buying US Steel would start controversy.
Yup. I remember the Toshiba sabotage. It was about flat screens. They made a big hoopla about the “Japanese takeover of our flat screen market”. So they purposely found ways to sandbag Toshiba. I owned once a Toshiba laptop. One of the best I had.
Yet the legal framework of holding companies and multinational corporations has been heavily lobbied and supported through congress for decades because buisinesses could increase profits massively with outsourcing labor and manufacturing. The future of American manufacturing was sold out long ago. The government has its own ammo contracts. All the companies under Vista are only worth about 1.91 billion.... That's business. No American company offered a better deal. You should have been reloading.
Don't fully blame the CEO for executing their fiduciary responsibilites. Blame the politicians who threw their constituents under a bus without your vote on the matter to give human rights to corporations and make them part of the political game with Citizens United granting them near unlimited influence in American politics
@slowbro1337 I blame ceos for encouraging the thought. At one time ceos didn't make as much as they do now. Now look? Also, welcome to capitalism, fish eats fish
Automation had a significant effect on employment but it also improved Worker Safety at the same time which was why automation was/is important. But the US has sold technology all over the world and hired foreign countries to manufacture just about everything. That lead to the fall of most manufacturing in North America and That's a FACT.
Producing products in other countries is the only reason the US has cheap and convenient products and wide range of the same products to choose from, if the US starts producing most of it's own goods you know damn well the increased cost of labor will be passed on to the consumer because the greedy investors need their cut of everything before or after it's sold to the average consumer(the real driving force of an economy).
In Eastern thought, in every crisis, there is opportunity. Look at what our Japanese allies taught us about making quality automobiles. American automobile manufacturers had to improve due to the competition. We Americans should not fear letting go an industry run into the ground, we should embrace the chance to reinvent a better American steel industry.
@@MrLandslide84 do you think it was just Bill that did that, without any Republican assistance? I love how right wingers mindlessly think the Democrats have more power than the Republicans do, it's like they've become so stupid they forgot that it takes approval from both Republicans and Democrats in a republic
The biggest reason US industry has faded away is their concentration on short term profit vs. long term viability. Plants need to be modernized to remain competitive, but that takes investment. Traditionally, management has taken profits and stuck them in theirs and shareholders pockets as opposed to reinvesting. This isn’t just the steel industry, it’s across the board. Look at any American manufacturer who has faded away and you’ll see poor management, lousy marketing decisions, a lack of forward thinking, no modernization and little reinvestment.
This isn’t a national security threat. Japan is essentially a US protectorate (no offense meant, just that the US is obligated to go to war if Japan is attacked). Not to mention the US is going to be one of if not the the biggest foreign export markets for the foreseeable future. Japan and the US both are mutually incentivized to work together.
Why is Japan a US protectorate? How is the USA obligated to fight for Japan? Would you send your children to Japan to fight and protect it? How would you feel if your child dies protecting a foreign country?
@@Abuzwebstar how? After WW2 ended the US forced Japan to demilitarize and in return the US agreed to defend Japan. The treaty is still in effect today. Doesn’t really matter what I think, if there’s a major war and they start drafting men to go to war then it doesn’t matter what my opinion is.
@@rickstevenson9585 so you don't care being drafted to go fight and die for a foreign country? America defeated the Japanese by dropping nuclear bombs on them even though the war ended and they were about to surrender. So are you saying after America defeated Japan they took control of it and now defending it from threats? Isn't Japan a sovereign nation? Why does it need another country to protect it? Which treaty are you talking about and where did the Americans agree to this?
@@Abuzwebstar I mean yea I care as much as I’d prefer not to die, but I’m also not going to be a coward running for Canada. If I get called up there’s nothing I can do about it as I’m not the son of some billionaire. As far as what treaty, it’s called the Treaty of Mutual Cooperation and Security signed by the US in 1960. It’s all well documented in the history books, or do a quick google search if you don’t believe me.
@@rickstevenson9585 Japan was occupied and administered by the victorious Allies of World War II from the surrender of the Empire of Japan on September 2, 1945 at the end of the Second World War until the Treaty of San Francisco took effect on April 28, 1952. The occupation, led by the American military with support from the British Commonwealth and under the supervision of the Far Eastern Commission, involved a total of nearly one million Allied soldiers.[1] The occupation was overseen by the U.S. General Douglas MacArthur, who was appointed Supreme Commander for the Allied Powers by the U.S. President Harry S. Truman; MacArthur was succeeded as supreme commander by General Matthew Ridgway in 1951. Unlike in the occupation of Germany and the occupation of Austria, the Soviet Union had little to no influence over the occupation of Japan, declining to participate because it did not want to place Soviet troops under MacArthur's direct command.
And you do not want to be rich one day? You want to work for someone that is poor? I never heard of anyone working for someone that has no money. Keep making excuses.
@@Madame702 The management are legally obliged to take the best offer for their shareholders - a low-ball $7Bn is clearly not as beneficial as $14.9Bn. If the belly-achers on here want to change things let them lobby their congressmen to change the law to oblige management to take other interests into account - and then watch everyone criticise them for being "socialist" and "un-American" and "Bernie Sanders"
Funny you say selling America but that's capitalism, that we encourage. Capitalism when it's us is fine, but moment that a US company gets bought, you want it protected?
There's nothing wrong with the purchase as they bring new methods of finances for the Steel Industry and a set of New Generation Manufacturing Processes for USA 🇺🇲. I wish Senators do approve the purchase for Building USA.
Because it was not an election year when that happened. The politicians in Pennsylvania who say they will block this (which they don’t have the authority to do) are just looking for votes.
Isn’t Japan supposed to be one of our Allies? If we don’t swoop in and save the plants ourselves we should at least let our own Allies buy it especially if we already have people from hostile nations like China buy farmland and real estate here, I’d rather have friendly nations like Japan buying our steel plants than China
However the government decides to handle this, it is important for us to remember that Japan is our friend. If we have security concerns we need to communicate those to the Japanese in a way that’s respectful and not accusatory. The last thing we want to do is act rashly, and potentially damage an important strategic partnership.
Listen, I am a liberal, I believe in a global economy, I believe in capitalism and the open market BUT... despite whatever past regimes have enacted on the steel industry, this is something that just shouldn't happen. This has nothing to do with patriotism or nationalism, this has to do with maintaining the supply chain plain and simple. For the sake of future generations, let's not sell off one of our major raw material supply chains.
That's isnt even the problem, i feel you tho. those people are disposable as we all are. the issue is america selling off its resources to foreign country's
@KaiserBlade You are aware it's not December 1941, right? While the atrocities of the past were awful, both sides have reconciled differences and now are strong allies with good economic ties to each other. Also, as awful as the attack of Pear Harbor was, it was the action that brought America into the war and eventually led to the strengthening and growth of the American economy, and scientific sectors leading it to be one of the world's strongest super powers along with ensuring the defeat of the axis powers. If that was too much info to handle for you too quickly, I do sincerely apologize for the mental discomfort it may have caused you.
@@slowbro1337My father has four bronze stars for fighting Japan in the South Seas he was a survivor of Pelileu. You think YOU told me something? Really?
U. S. Steel bought Stelco steel in Hamilton Ontario. They shut it down less than a year later to eliminate the competition. I'm sure Nippon will treat them far better than they deserve.
It is always about the money, America is for sale to the highest bidder. It would be better all around for Japan to own the steel company than any other country.
I trust Japan to run it. Japan is a trusted ally. I don't see anything wrong with the sale. Japan never said it intended on replacing anyone, just ownership. I don't believe that US Steel is America's last operational steel plant like some are suggesting. Japan has a long history of being able to come in & effectively turn around troubled American companies back into the profit-zone. I think the higher-ups in Washington might have asked Japan to step in.
To pay for half of a years tuition nowadays that summer job would need to pay you roughly $40 an hour which extrapolated out to a full years salary would be equivalent to more than $80k a year. Times have really changed. Bro was getting paid a living wage as a college student while we got kids paying $40k a year to go to school taking unpaid internships...
My point is that Nippon is the same as Japan. It’s the romanized version, and in romaji, it’s Nihon. Is this lost on everyone or is the joke on me? So confused. 😐
What are the reasons for those who oppose this M&A? Is it because their pride will be hurt by being under the umbrella of a foreign capital? If so, it is a laughably ridiculous reason.
I don't think this is a big deal because Japan is am ally not an enemy like China. Many companies make changes after the purchase to make the company more profitable.
The pension monies should come from the money that will go to the current shareholders. Currently, they owe the money to workers. Once that money is put in a separate trust, then the rest of the money can go to the shareholders.
NWI here. We don't care who owns the place, we just want the natural beauty and wonderful landscapes surrounding the place to shine through the poverty and crime somehow. The southern tip of lake Michigan is a wonderful place to live, the only negative is the smell of the mills, refineries, and the poverty and destruction left behind on top of the people who built them. I feel our own state government is more of a threat to working culture here than the Japanese. The Japanese want to use our already trained and skilled labor to make the best steel possible.
![Gucci Mane & Sexyy Red - You Don't Love Me [Official Music Video]](http://i.ytimg.com/vi/j7IBqyFKT4c/mqdefault.jpg)
The outrage should be directed to members of Congress making millions for insider-trading.
Yep. Congress has a better average return on their investments than Warren Buffet and they can use their insider information with impunity. There needs to be insider stock trading regulations for Congress.
It really doesn't matter at this point. We haven't made steel in decades after the collapse of the industry in the US. We make some but alot of it are being contracted with the federal government anyways.
But people don't care and pay taxes like good little people lol
@@MrLuffy9131people gotta pay taxes otherwise I won’t get my disability from the VA 😂
@MrLuffy9131 but not you mr luffy, you make sure the government dont get your tax money 😉
If you do not like it, pay more than Nippon Steel. The company must accept the best offer.
and its a damn good company and a damn good offer.
Imagine the US blocking the sale of your company becasue they deem it a national security interest but all the policies they have passed over the decade has made your company a fraction of what it used to be, you cant have it both ways. If they are going to block the sale then they need to buy it themselves if its so important
X would have no competition when they change the stock symbol.
Thats what they call "communism"😂
Just wait until Americas people care enough to look at actual and factual numbers. Even if it keeps up the heartless abandon, non reality realization, and extreme ignorance, It will still collapse.
Leave the Communism to Russia and China, nothing good comes from a government owning companies.
Japan buying a company is a threat to national security? Oh yeah, Japan is planning a military attack as we speak.
Back in the 1980s when Nippon bought National Steel they honored the US unions and workers benefits the entire time they owned it.
It wasnt until for some dumb reason in the late 90s when Nippon hired executives from US steel to run National Steel, did corruption and finally bankruptcy and closure happen.
I hope if Nippon does buy US steel they remove the current US steel exceutive you have driven US steel into the ground.
Kaizen!
And put the name back on the steel building
The pentions were under funded pbgc took the pentions over,
Exactly, if anything, this is an upgrade for US steel workers -_-
As a lifelong Pittsburgher, I think this horse left the barn 40 years ago, for the most part. Grew up with neighbors and friends who worked at the mills. I could sometimes smell the coke ovens from the Clairton Works in the morning. Lots of folks had to move from PA to find work in the 70s and 80s when most of the mills shut down. For the most part, steel’s been mostly gone from Western PA for decades. It’s a mere shadow of what it was for almost half a century.
Check out the book “And the Wolf Finally Came” for more information on the history of the decline of the American steel industry.
But it doesn't actually mean to sell the operation and to sell the Maine state of the business to some type of foreign entity is that when it comes down to a need for that particular industry we have no say so
@alliwishis_2 I’m a little confused by the wording this comment can you clarify?
where was Brandon when the mills went to chyna
Yeah true. But just a little factoid for a “fellow Pittsburgher” US Steel. Specifically the Edgar Thomson plant . Is responsible for 93% of the steel made bought and sold within the US . Yes it used to be much much more . Say 93% of the world’s steel came out of the Mon Valley. The writing was on the wall long ago. But I just want to make sure you have the correct statistics before u start leaning on the side. Of well who cares . It’s a big deal. It’s a Really Big Deal
@@jamesalles139wow. You really are in a cult.
US steel needed a major remodel. Too much garbage plate and quality control problems. And If Japan wants to buy it, thats great. The Japanese generally have great manufacturing and could improve the quality of the products immensely. A hell of a lot better than if China or India tried to buy it.
America needs productive strategic partners, and Japan is an excellent one, there’s a lot our countries can learn from each other.
This is probably a great chance for our countries, being strong allies, to compete with China's steel industry.
Yes, and if America sells US Steel to Japan they should have to sell back it back to America only?
@@braveheartz263Should US Steel have only sold to a single country before Japan bought it? That would make zero business sense.
There are products that must be produced locally. What will happen if the trades are interrupted in an emergency? Globalization only works in an ideal world, and our world is far from ideal.
I would be far more upset if they were selling it to China or Iran. Japan is our ally and also our eyes into Asia, we need them as they act as a satellite-state for China. Basically, we use Japan to spy on China, but what does Japan get out of it? This is one of those symbiotic relationships where two different species help each other. South Korea too, but Japan is more fun than South Korea.
The last three Governors of Okinawa have run on a platform of complete removal of US Military.
Japan gets security.
Japanese is a different species?
@@iridefast1 actually Japan is less secure allying itself with the US and making themselves the primary war front if it happens. They would be the most secure if they become a neutral state like Switzerland.
@@natoslayer2907 that's an absurd take given the aggressive governments in China & NK who have a huge historical disdain for Japan
Considering that the largest oil refinery in the US was sold to a Saudi billionaire a few years ago, without protest from the Government, a defunct steel company shouldn't
represent much of a national defense problem either. America produces specialized metal products nowadays, rather than bulk steel but, with the US cutting ties with much of the rest of the world, (According to Peter Zeihan), we might revitalize the rust belt yet.
I understand the concerns about this purchase of the steel mill. What about the purchasing of other American companies to China owned companies as Tyson foods? The Arabians in Arizona??
Smithfield as well
The only American offer on the table was about $7Bn. Nippon offered more than twice that. The "national security" fears are a crock - the Japanese are American allies and see America as a growth market in the future as it "builds back better" (or at least does some basic maintenance after 40 years of under investment in infrastructure). You don't spend almost $15bn and then shut everything down.
It won’t shut down but the American Union jobs will be lost. Lucky there’s millions coming in over the southern border who will work dirt cheap.
imagine if all the money biden has been giving to ukraine and now Israel and Now the immigrants we could havee bailed out the US steel company, proved that big tech doiesnt want to invest in america. APPLE COULD buy that easy, Elon also. Elon should buy it. He bought TWITTER
@iridefast1 the American union workers are their own worst enemy
@@markwilliams4525True about the unions. But CEOs and Boards are also not interested in protecting American industry or workers.
I hope the Japanese can provide crucial leadership and reinvigorate this industry in the USA.
@@iridefast1the Japanese said current union and union contracts can remain in place.
If it was a British or Israeli company buying US Steel there wouldn’t be any controversy.
Japan is one of our closest allies. Why would there be controversy for them but not the UK or Israel? I think any foreign company buying US Steel would start controversy.
@@anonymousguy6928probably racism (fears of an “asian takeover” like what happened toward Japan in the 80s and now China in the modern day)
The worst that can happen is innovation, lower CEO pay, and a company that values workers
It’s mostly because all the subsidies and tax breaks will go to Japan. The governor and cabinet probably won’t get a kickback anymore.
Yup. They come out , palm up, looking for a handout.
As a Japanese person, I would like to see something like the Goldman Sachs and Toshiba cases be prevented before they happen again.
Yup. I remember the Toshiba sabotage. It was about flat screens. They made a big hoopla about the “Japanese takeover of our flat screen market”. So they purposely found ways to sandbag Toshiba.
I owned once a Toshiba laptop. One of the best I had.
And yet lawmakers didn't have a problem when Vista Outdoors sold all their ammo component manufacturing to a Czech holding company.
Except that hasn’t happened
Make your own ammo dude.
@@SCHMALLZZZ Vista owned CCI and Federal, two primer manufacturers.
Yet the legal framework of holding companies and multinational corporations has been heavily lobbied and supported through congress for decades because buisinesses could increase profits massively with outsourcing labor and manufacturing. The future of American manufacturing was sold out long ago. The government has its own ammo contracts. All the companies under Vista are only worth about 1.91 billion.... That's business. No American company offered a better deal. You should have been reloading.
Greedy CEO's will sell out America
Made in China 😂
Don't fully blame the CEO for executing their fiduciary responsibilites. Blame the politicians who threw their constituents under a bus without your vote on the matter to give human rights to corporations and make them part of the political game with Citizens United granting them near unlimited influence in American politics
@slowbro1337 I blame ceos for encouraging the thought. At one time ceos didn't make as much as they do now. Now look? Also, welcome to capitalism, fish eats fish
Sell out America? Dude. The plant isn’t moving. There’ll probably be some downsizing but it’s needed
Everything is being outsourced but at least this time it's a Japanese company and not a Chinese company that's buying our steel.
@ndukasmith no matter where it's made, I would still buy it.
If the Chinese want it all they got to do is call the big guy...
Automation had a significant effect on employment but it also improved Worker Safety at the same time which was why automation was/is important.
But the US has sold technology all over the world and hired foreign countries to manufacture just about everything. That lead to the fall of most manufacturing in North America and That's a FACT.
That and most people are no longer willing to do those jobs.
Producing products in other countries is the only reason the US has cheap and convenient products and wide range of the same products to choose from, if the US starts producing most of it's own goods you know damn well the increased cost of labor will be passed on to the consumer because the greedy investors need their cut of everything before or after it's sold to the average consumer(the real driving force of an economy).
In Eastern thought, in every crisis, there is opportunity. Look at what our Japanese allies taught us about making quality automobiles. American automobile manufacturers had to improve due to the competition. We Americans should not fear letting go an industry run into the ground, we should embrace the chance to reinvent a better American steel industry.
When Bill let China into the WTO. It's been super downhill after that. Rapid. I remember before it happened.
@@MrLandslide84 do you think it was just Bill that did that, without any Republican assistance? I love how right wingers mindlessly think the Democrats have more power than the Republicans do, it's like they've become so stupid they forgot that it takes approval from both Republicans and Democrats in a republic
Truth is they've been aloud to slowly sell off parts of these companies for years. Rust belt wouldn't be so messed up otherwise.
They've been aloud? I thought maybe they'd be doing it quietly to make sure they're allowed to do so.
The biggest reason US industry has faded away is their concentration on short term profit vs. long term viability. Plants need to be modernized to remain competitive, but that takes investment. Traditionally, management has taken profits and stuck them in theirs and shareholders pockets as opposed to reinvesting. This isn’t just the steel industry, it’s across the board. Look at any American manufacturer who has faded away and you’ll see poor management, lousy marketing decisions, a lack of forward thinking, no modernization and little reinvestment.
Like my dad used to say "why would a country want to fight us in a war, rhe whole country is for sale, a lot safer and probably just as cheap
This isn’t a national security threat. Japan is essentially a US protectorate (no offense meant, just that the US is obligated to go to war if Japan is attacked). Not to mention the US is going to be one of if not the the biggest foreign export markets for the foreseeable future. Japan and the US both are mutually incentivized to work together.
Why is Japan a US protectorate? How is the USA obligated to fight for Japan? Would you send your children to Japan to fight and protect it? How would you feel if your child dies protecting a foreign country?
@@Abuzwebstar how? After WW2 ended the US forced Japan to demilitarize and in return the US agreed to defend Japan. The treaty is still in effect today. Doesn’t really matter what I think, if there’s a major war and they start drafting men to go to war then it doesn’t matter what my opinion is.
@@rickstevenson9585 so you don't care being drafted to go fight and die for a foreign country? America defeated the Japanese by dropping nuclear bombs on them even though the war ended and they were about to surrender. So are you saying after America defeated Japan they took control of it and now defending it from threats? Isn't Japan a sovereign nation? Why does it need another country to protect it? Which treaty are you talking about and where did the Americans agree to this?
@@Abuzwebstar I mean yea I care as much as I’d prefer not to die, but I’m also not going to be a coward running for Canada. If I get called up there’s nothing I can do about it as I’m not the son of some billionaire. As far as what treaty, it’s called the Treaty of Mutual Cooperation and Security signed by the US in 1960. It’s all well documented in the history books, or do a quick google search if you don’t believe me.
@@rickstevenson9585 Japan was occupied and administered by the victorious Allies of World War II from the surrender of the Empire of Japan on September 2, 1945 at the end of the Second World War until the Treaty of San Francisco took effect on April 28, 1952. The occupation, led by the American military with support from the British Commonwealth and under the supervision of the Far Eastern Commission, involved a total of nearly one million Allied soldiers.[1] The occupation was overseen by the U.S. General Douglas MacArthur, who was appointed Supreme Commander for the Allied Powers by the U.S. President Harry S. Truman; MacArthur was succeeded as supreme commander by General Matthew Ridgway in 1951. Unlike in the occupation of Germany and the occupation of Austria, the Soviet Union had little to no influence over the occupation of Japan, declining to participate because it did not want to place Soviet troops under MacArthur's direct command.
Greed, greed, and more greed, that's all american corporations know.
So if you were selling your bike and one guy offered twice the amount that another did you'd take the smaller offer?
Unfortunately alot of regulations and unions have made us uncompetitive. Bethlehem steel suffered the same fate. Although we still should block this.
And you do not want to be rich one day? You want to work for someone that is poor? I never heard of anyone working for someone that has no money. Keep making excuses.
I think case it not just Greed, US Steel needs injection of investment for new technologies.
@@Madame702 The management are legally obliged to take the best offer for their shareholders - a low-ball $7Bn is clearly not as beneficial as $14.9Bn. If the belly-achers on here want to change things let them lobby their congressmen to change the law to oblige management to take other interests into account - and then watch everyone criticise them for being "socialist" and "un-American" and "Bernie Sanders"
uss isnt competitive.. the highest grade steel is imported from germany
Good I let the construction crews know when they just want to set out a basic pillar or base block.
possibly we buy much steel from china because of price, not judging
@tlcooper2.0-ky5vh US steel has 8 billion in tangible assets and the highest US bid was 7 billion... doesnt take a genius
Lawmakers arent getting their kickbacks so naturally they are against whatever deal comes about.
This reporting seemed fair and balanced. Not tilted at all...
I always associated US Steel with the US for some reason....Huh?
Selling America,, one piece at a time!
In the end, the United States will still monitor Nippon Steel, so I think it will be the same as the United States absorbing Japanese companies.
America has already been sold off
Don’t blame the foreign powers. Blame your business leaders for loading American companies with debt. This is what stock buy back programs did.
Funny you say selling America but that's capitalism, that we encourage. Capitalism when it's us is fine, but moment that a US company gets bought, you want it protected?
アメリカには国を売る自由まであるのか!
Why block it, Nippon will bring the place back to being solvent.
Well if they become a part of Nippon they become part of one of the top steel companies in the world and mite be able to compete with the Chinese.
why are you upset that the world's 4th steel company buys the 27th one?
it's really natural💀
the employees went on strike in the 1950s and permanently crippled US Steel and they never recovered.
There's nothing wrong with the purchase as they bring new methods of finances for the Steel Industry and a set of New Generation Manufacturing Processes for USA 🇺🇲. I wish Senators do approve the purchase for Building USA.
Japan is one of closest allies, and they make better products and do better business that Americans. I see this as a big plus!
Meanwhile nobody said a word when Chinese interests purchased the third largest meat processor in the country.
Because it was not an election year when that happened. The politicians in Pennsylvania who say they will block this (which they don’t have the authority to do) are just looking for votes.
Isn’t Japan supposed to be one of our Allies? If we don’t swoop in and save the plants ourselves we should at least let our own Allies buy it especially if we already have people from hostile nations like China buy farmland and real estate here, I’d rather have friendly nations like Japan buying our steel plants than China
Ally for now, is that permanent?
@@nd715 oh god. not another conspiracy .
Just nationalize the plant if it’s that important.
What's to stop them from selling to China?
They would have to get permission and im pretty sure its a non starter.
The big guy will set it up for them...
Boards of directors and shareholders chase the almighty money, no matter where from it comes.
However the government decides to handle this, it is important for us to remember that Japan is our friend. If we have security concerns we need to communicate those to the Japanese in a way that’s respectful and not accusatory. The last thing we want to do is act rashly, and potentially damage an important strategic partnership.
Potentially good news to open up American industry. The part about other countries being involved is worrying....
Listen, I am a liberal, I believe in a global economy, I believe in capitalism and the open market BUT... despite whatever past regimes have enacted on the steel industry, this is something that just shouldn't happen. This has nothing to do with patriotism or nationalism, this has to do with maintaining the supply chain plain and simple. For the sake of future generations, let's not sell off one of our major raw material supply chains.
Thanks Reagan
Thank the big guy...
CEO-to-worker compensation ratio reached 344-to-1 in 2022 in US, Wall Street is 400-to-1. Japan only 50-to-1. Which one is better for union members?
America likes "Free Trade" but does not like Nippon buying US Steel :)
There is nothing of a better quality than U.S. / Japanese steel.
German steel is pretty damn good. but you are right, Japanese / US steel would be on par with any really good steel.
Japanese steel industry leaders have played the long game, since at least the 1980s, to do this deal.
Much better to deal with Japanese Not to Chinese
I’m worried for the workers and their families.
That's isnt even the problem, i feel you tho. those people are disposable as we all are. the issue is america selling off its resources to foreign country's
You should be far more worried about wall st buying it. They would destroy the company just like all the others they get.
you should have been worried over the last 30 yrs.
Too late ..
Totally unacceptable. That steel plant needs to stay in Pittsburg.
I see no issues as they are strong allies.
Pearl Harbor was great. Right slow?
@KaiserBlade You are aware it's not December 1941, right? While the atrocities of the past were awful, both sides have reconciled differences and now are strong allies with good economic ties to each other. Also, as awful as the attack of Pear Harbor was, it was the action that brought America into the war and eventually led to the strengthening and growth of the American economy, and scientific sectors leading it to be one of the world's strongest super powers along with ensuring the defeat of the axis powers. If that was too much info to handle for you too quickly, I do sincerely apologize for the mental discomfort it may have caused you.
@@KaiserBladeyou realize how much Japan has changed
@@slowbro1337My father has four bronze stars for fighting Japan in the South Seas he was a survivor of Pelileu. You think YOU told me something? Really?
@@KaiserBlade you aren't your father. My father fought the Nazi's and yet i'd buy a Porsche in a heart beat over a Chev and so would you.
If the government can subsidize the car companies, why can’t the government subsidize companies such as US Steel?
This is a bad idea.
I think the US needs to have a “reciprocal” law. I don’t believe you can go to japan and buy up such an important industry,just a portion of it
Ford bought Mazda and kept it for a very long time.
@@ziyuanmeng5894 WRONG. They did have up to a 33% controlling interest, but you you've stated is frankly untrue.
@@MyerShift7 Ford still bought in to it. Nippon is a great Company.
@@ziyuanmeng5894 Mazda is not a critical company. In this case, if US needs to beg japan to get steel to build new ships. Now THAT'S critical.
EPA and overseas competition was and still are the problems with the steel.
Let's hope he does block the sale . This is unacceptable
No foreign entities should be allowed to purchase any fundamental industries
U. S. Steel bought Stelco steel in Hamilton Ontario. They shut it down less than a year later to eliminate the competition. I'm sure Nippon will treat them far better than they deserve.
Hope the US steelworkers reconsider who they vote for in 2024
thats disgraceful and the us govt should block that sale its unfathomable
It is always about the money, America is for sale to the highest bidder. It would be better all around for Japan to own the steel company than any other country.
😂😂. Its called capitalism my boy.
It is called the love of money and Capitalism had nothing to do with it.@@felipenunez2058
I trust Japan to run it. Japan is a trusted ally. I don't see anything wrong with the sale. Japan never said it intended on replacing anyone, just ownership. I don't believe that US Steel is America's last operational steel plant like some are suggesting. Japan has a long history of being able to come in & effectively turn around troubled American companies back into the profit-zone. I think the higher-ups in Washington might have asked Japan to step in.
To pay for half of a years tuition nowadays that summer job would need to pay you roughly $40 an hour which extrapolated out to a full years salary would be equivalent to more than $80k a year. Times have really changed. Bro was getting paid a living wage as a college student while we got kids paying $40k a year to go to school taking unpaid internships...
Imagine supposedly representing free trade, but continually engaging in protectionism.
I can’t believe other media sources are not talking for hours about this purchase 👀👀👀👁️💡
It should be re-named Japan Steel now.😮
That’s the same as rebadging it Nippon Steel after the parent company if it is purchased.
@@Slowcarfastbeans Nippon Steel is a great company, name sounds good.
My point is that Nippon is the same as Japan. It’s the romanized version, and in romaji, it’s Nihon. Is this lost on everyone or is the joke on me? So confused. 😐
Why do they want it.
What are the reasons for those who oppose this M&A? Is it because their pride will be hurt by being under the umbrella of a foreign capital? If so, it is a laughably ridiculous reason.
this is the results of 80 years of unions if they are so good what in the world are you comparing them to ?
Its literally one of the only supply sources of steel. It would be foolish to let it go.
Everything went south with free trade. Every major business in the US has left since free trade.
The committee is concerned about “enemies” of the US. These currently include China, Iran, and Russia.
How is 14.9 billion "a little more" than 14 billion dollars?
I don't think this is a big deal because Japan is am ally not an enemy like China. Many companies make changes after the purchase to make the company more profitable.
REMEMBER,
Its nothing personal. Its busine$$.
!
Where the hell is American Bridge?
If they block the sale they will end up giving the company a slow death.
"We can't make it here anymore..." -James McMurtry
Oh he'll no, The money is not worth the bigger problem this sale will cause.
It should be sold to a steel manufacturing company in Arizona.
Japan is US's ally and their acquisitions have improved the functioning of american companies on numerous occasions. I see nothing wrong with that.
Maybe we should be a little more considerate to recycle the mountains of steel instead of dumping it into our landfill.
Isn’t this the logo on the helmets of the Pittsburgh Steelers?
It was an older logo but yeah, same company.
Blame the EPA
Blame Nixon
Of course they don't want an alley like Japan to buy it,they would rather have it set idle or sell to 🇨🇳
How can American Steel industry sell an American industry to Japan? WTF
Cause its called the free=ish market.
Keep it American.
Why is is generating 'political' controversy? Because is can. That is all that is needed anymore.
The price of steel will go up and quality down.
The pension monies should come from the money that will go to the current shareholders. Currently, they owe the money to workers. Once that money is put in a separate trust, then the rest of the money can go to the shareholders.
Steelers can change their name to the Rising Suns.
I’m from a Cleveland suburb and I think that’s a good idea. Maybe the Browns might win now. 😮
No surprise the Union is upset.
NWI here. We don't care who owns the place, we just want the natural beauty and wonderful landscapes surrounding the place to shine through the poverty and crime somehow. The southern tip of lake Michigan is a wonderful place to live, the only negative is the smell of the mills, refineries, and the poverty and destruction left behind on top of the people who built them. I feel our own state government is more of a threat to working culture here than the Japanese. The Japanese want to use our already trained and skilled labor to make the best steel possible.
The good old American way was what built the America 🇺🇸 we have today. Let’s not lose that mentality.
Al Bundy would not approve
Brandon should be court martialed for allowing this to happen.
He's getting his 10%
What's happened to America
lazy workers and corporate greed.
@@lindo110 correct, except for the first part
Capitalism
Doesn't matter what's best long term. What's matters is RECORD PROFITS THIS QUARTER!!!
If they can bring the same culture from japan into the workplace, they would probably be better off.