US Steel wants to accelerate investments, bring back jobs, CEO says

[Jesse James]

http://www.cnbc.com/2016/12/07/us-steel-wants-to-accelerate-investments-bring-back-jobs-ceo-says.html

 

From the article:

 

US Steel CEO: All we've been looking for is fairness 9 Hours Ago | 04:56

 

United States Steel would like to accelerate its investments and hire back laid-off employees now that Donald Trump will be occupying the Oval Office, CEO Mario Longhi told CNBC on Wednesday.

 

"We already structured to do some things, but when you see in the near future improvement to the tax laws, improvements to regulation, those two things by themselves may be a significant driver to what we're going to do," he said in an interview with CNBC's "Power Lunch."

In addition, the belief that the U.S. economy can grow at least 3.5 percent also adds to what the company can do, Longhi noted.

 

"I'd be more than happy to bring back the employees we've been forced to lay off during that depressive period," he said, which could be close to 10,000 jobs.

[jericho]

^^^^^^^^^^^^

SHHHHH

That dont fit the narrative.

[Builder1214]

Says 10000 new jobs will be added. This Steel Industry Giant Says It Could Restore 1

[rjs4470]

Could, may, would like to, no timeline, up to, if and when....all speculation at this point. Is this positive??? Sure. But doesn't mean a thing until it happens.

[spindoc]

Perhaps the steel jobs in Ashland would return. That would be outstanding.

[capt278]

Could, may, would like to, no timeline, up to, if and when....all speculation at this point. Is this positive??? Sure. But doesn't mean a thing until it happens.

 

Why so negative?

 

It is more positive than anything over the last 8 years.

[rjs4470]

Why so negative?

 

It is more positive than anything over the last 8 years.

 

I'm not being negative. Just pointing out that while this sounds nice, it's nowhere close to happening, and it's being spun as if these jobs are for sure coming. It's not really even news at this point.

[woodsrider]

Steel prices world wide are trending up, that's why US prices are up. Unless Trump is ready to take on China Steel this is all a pipe dream.

[JDEaston]

Perhaps the steel jobs in Ashland would return. That would be outstanding.

 

It would be huge for Ashland, honestly. Marathon has something going on at the I-64 interchange as well, not sure what it is, but they are clearing off a massive amount of land.

[JDEaston]

Steel prices world wide are trending up, that's why US prices are up. Unless Trump is ready to take on China Steel this is all a pipe dream.

 

Chinese steel shouldn't even be considered steel. That stuff is garbage, seriously.

[woodsrider]

Chinese steel shouldn't even be considered steel. That stuff is garbage, seriously.

It's not all junk but you're right, they do turn out some crap.

[JDEaston]

I won't buy it unless I have to. Unfortunately, it's hard to not buy it when purchasing a vehicle. Most of the steel, even with "American made" vehicles, comes from China.

[woodsrider]

Just about everything you buy contains it.

[JDEaston]

Just about everything you buy contains it.

 

I know. But I do go out of my way to "try" and not buy it if I have the option.

[woodsrider]

I get what youre saying but unless the product is 100% US made it's tough or near impossible.