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US Steel Shares Plunge with Layoffs
All the good paying jobs that average people had in the middle class have evaporated and The Republicans and Democrats say go retrain and become
an A.I. engineer instead. What a joke ! Social security and Medicare has already taken more and given less to the elderly while they raise the debt ceiling and speed billions on the Pentagon & Military Budgets! It's time to vote them out of office now!
serf
https://www.zerohedge.com/markets/us-steel-shares-plunge-dividend-slashed-buybacks-halted-1500-workers-cut-amid-deepening
President Trump told a crowd of steelworkers in Illinois in July 2018 that "After years of shutdowns and cutbacks today the blast furnace here in Granite City is blazing bright, workers are back on the job and we are once again pouring new American steel into the spine of our country."
While US Steel's Granite City might be operational for the time being, the steel producer has just announced it will shut down a "significant portion" of its Great Lakes Works facility, slash its dividend, terminate 80% of its share buyback program, and layoff 1,500 workers.
Great Lakes Works is expected to halt operations by April 2020. The mill rolls slabs into sheets of steel and has been battered by the manufacturing recession and trade war. The facility laid off 200 workers earlier this year, with another 1,500 in the near term, reported 247 Wall Street.
an A.I. engineer instead. What a joke ! Social security and Medicare has already taken more and given less to the elderly while they raise the debt ceiling and speed billions on the Pentagon & Military Budgets! It's time to vote them out of office now!
serf
https://www.zerohedge.com/markets/us-steel-shares-plunge-dividend-slashed-buybacks-halted-1500-workers-cut-amid-deepening
President Trump told a crowd of steelworkers in Illinois in July 2018 that "After years of shutdowns and cutbacks today the blast furnace here in Granite City is blazing bright, workers are back on the job and we are once again pouring new American steel into the spine of our country."
While US Steel's Granite City might be operational for the time being, the steel producer has just announced it will shut down a "significant portion" of its Great Lakes Works facility, slash its dividend, terminate 80% of its share buyback program, and layoff 1,500 workers.
Great Lakes Works is expected to halt operations by April 2020. The mill rolls slabs into sheets of steel and has been battered by the manufacturing recession and trade war. The facility laid off 200 workers earlier this year, with another 1,500 in the near term, reported 247 Wall Street.
Comments
https://www.waymarking.com/waymarks/WM11B0_Lead_Mines
This area has been a major producer of lead through every war since 1773.
Now we get our lead from China. Maybe if we sell our lead mines to China they will put them back into production.
In the mean time...when the ship goes to China to pick up some bullets for me they can also bring back a load of steel.
You think maybe the chinee can dig iron and lead out of the ground cheaper than we can?
How much does the average miner in this country make? Anyone?