USS was founded in 1901 after a merger orchestrated by J. P. Morgan by financing the merger of Andrew Carnegie’s Carnegie Steel Company with Elbert H. Gary’s Federal Steel Company and William Henry “Judge” Moore’s National Steel Company, and saw Charles Schwab become the corporation’s first president. USS was the first-ever billion dollar company in the world, and was the largest steel producer in the world for the longest time.
According to a press release published on December 19th by USS, NSC announced they ‘will acquire U.S. Steel in an all-cash transaction at $55.00 per share, representing an equity value of approximately $14.1 billion plus the assumption of debt, for a total enterprise value of $14.9 billion.’
USS added in its press release, ‘The transaction will further diversify NSC’s global footprint by significantly expanding its current production in the United States, adding to its primary geographies of Japan, ASEAN, and India. As a result of NSC’s acquisition of U. S. Steel, its expected total annual crude steel capacity will reach 86 million tonnes – accelerating progress towards NSC’s strategic goal of 100 million tonnes of global crude steel capacity annually.’
USS made sure to note that this buyout will not affect current employee contracts and labor union agreements. The company will still also maintain its name.
Additionally, the buyout purportedly will be to help meet climate change goals they say. They write:
A key area of collaboration post-transaction will be to continue to advance this goal and drive alternative technologies in decarbonization. NSC is developing three breakthrough technologies to progress towards its goal of achieving carbon neutrality by 2050, including hydrogen injecting technology into blast furnaces, high grade steel production in large size electric arc furnaces, and hydrogen use in direct iron reduction process.
U. S. Steel is similarly focused on reducing its carbon footprint, including continuously striving to use less energy in its existing operations, integrating electric arc furnace capabilities into its footprint, and is constructing a second state-of-the-art mini mill in Arkansas.
NSC President Eiji Hashimoto said in a statement:
We are excited that this transaction brings together two companies with world-leading technologies and manufacturing capabilities, demonstrating our mission to serve customers worldwide, as well as our commitment to building a more environmentally friendly society through the decarbonization of steel.
The transaction builds on our presence in the United States and we are committed to honoring all of U. S. Steel’s existing union contracts.
President and Chief Executive Officer of U. S. Steel, David B. Burritt, also said in a statement:
NSC has a proven track record of acquiring, operating, and investing in steel mill facilities globally – and we are confident that, like our strategy, this combination is truly Best for All.
Today’s announcement also benefits the United States – ensuring a competitive, domestic steel industry, while strengthening our presence globally. Our shared decarbonization focus is expected to enhance and accelerate our ability to provide customers with innovative steel solutions to meet sustainability goals.
AUTHOR COMMENTARY
As Petrova points out in her video, besides being the Treasurer, Janet Yellen is also the Chair of the Committee for Foreign Investments, so she has the power to block this deal. If it does not go unblocked then that will speak volumes. But, seeing as Yellen is a totally evil bankster, I’m certainly not holding my breath.
The U.S. is just some giant shell company for everyone else at this point. We the people, the serfs, cannot get ahead and make a fair wage anymore, while the government shells money for everyone else abroad and illegals, while alien countries continue to buy up more of our companies, resources, land, and real estate.
The U.S. economy has been predominantly service sector and consumer-based for many years now.
[2] Our inheritance is turned to strangers, our houses to aliens. [4] We have drunken our water for money; our wood is sold unto us. Lamentations 5:2, 4
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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The economy is going down like a stalling plane out of fuel.
From big businesses and corporations to industries and land – farm and otherwise, this nation’s staff of bread is going to be gone! And America deserves it!
Hopefully when over a million businesses have shut down which equals millions of jobs lost due to being laid off, hopefully some true repentance will be kindled.
I’m betting that the woke companies will also tank.
This going woke agenda is just another ploy to bring down the economy, and it’s working.
Great verse Jacob, oah let’s just sell the whole country, wait, oh yea, we already did; China.
I know, let’s have a bidding war and pay off the debt, LOLOLOLOL
2Pe 2:22 But it is happened unto them according to the true proverb, The dog is turned to his own vomit again; and the sow that was washed to her wallowing in the mire.
It’s hard to believe these so called leaders are as stupid as they really are. What do they have in mind for their future and the future of their children and their grandchildren? Do they want their grandchildren to be under communists leadership? It doesn’t make sense, but this world is going to hell in a hand basket very soon. I surely hope we are not here too much longer to see them make all these bad decisions for the U.S Those who are making these bad decisions for the U.S. will deserve to suffer right along with the citizens.
Shame, Just another episode of NAFTA, GATT fallout.
sadly, websites like this, people like my dad that cry about job losses due to US companies hiring illegals which is true…..But NO ONE ever wants to blame the Americans that sold out, built in china, or hire illegals. I know of a small town nearby that all the residents had to find work outisde 30 miles away and farther, cuz the local tree mill hired a bunch of illegals.
You have to hold them accountable as well, not just cry about it. You all cry about not buying american, while american companies build overseas. Yet you still buy electronics and cars and all sorts of products with chines parts in it. And here you are posting online with stuff made in china. Man up, get rid of your communists goods…oh wait, that means you will have nothing left, not even your home. You are no better than the stop oil morons that run around in shoes and electronics made with rubber and plastics from petroleum, while crying about stopping oil.
One idiot commentator above is crying about communism. JAPAN ISN”T A COMMUNIST COUNTRY KID.
So, if we went through your home right now, we should not find anything produced in a foreign country, right? Don’t come here blowing hot air, I KNOW what it’s like to work in construction and to see the whole field overrun with illegals. I watched my family get wiped during the Great Recession, so I know the score. I routinely call out Americans for their folly and sins. Don’t blame me. I’m trying to navigate this minefield left behind by the older generations.
Listen Anonymous whoever you are, if you don’t like this site you’re free to leave anytime, but don’t attack our friend and brother in the Lord, Jacob!
lol comment waiting for approval, boy you sure want your freedom of speech but sort thru comments like dictators or biden nuts
Because its MY website, and *I* am obligated to run it however I see fit.
Jacob has to sift through comments because there could be somebody leaving profanity F-word galore, trolling, threats, scams and pyramid schemes, or worse: there could be some devil-possessed pervert who might put a link to a porn site! Therefore, Jacob has to sift through comments to be safe as well as to shield the brethren and newly saved from that filth!
Jacob is the boss of this site, he calls the shots not you, not me, and nobody else! The only one who’s higher up and gives guidance and direction is the Lord but other than Him, Jacob makes the rules!
the total destruction of the USA is well underway!!!!!!!
Treason abounds.
That is correct and what have We the people honestly done about any of it – NOTHING!! Absolutely Nothing at all.
Very simple: America is flipping DEAD!!
All this is the full spectrum de-growth, slow kill mafia, and $ell out America – globalist depopulation agenda on the march. Add “immigration jihad” as chaos, violent *protests and ww3 escalates. Gee, Godless America is surprised?
GODLESS America is DOA. Immigration jihad plus degrowth-depoulation global agenda is The Official *5 dimension WW3 marching on.
“Ignorance & Narcissisism Pandemic” in America hates God, hates country, hates Family and Common Sense.
Yup.