U.S. Steel Shareholders Approve Sale to Japan's Nippon Steel

Strongly recommended blog post: ‘“No inventions; no innovations,&quot; a History of US Steel’ by Brian Potter<p><a href="https:&#x2F;&#x2F;www.construction-physics.com&#x2F;p&#x2F;no-inventions-no-innovations-a-history" rel="nofollow">https:&#x2F;&#x2F;www.construction-physics.com&#x2F;p&#x2F;no-inventions-no-inno...</a>

Crazy that congress is fighting over ownership of TikTok, but letting a critical piece of US manufacturing be foreign owned with hardly a word.

One of the driving forces in steel making is high capital cost which drives the need to keep operating at full capacity, driving prices to margin.<p>There are not many industries like that anymore - steel still is, oil, and some industrial chemicals. But even Pharma has slightly different cost structures.<p>The big remining one is chip making - I wonder if “data centres” counts too?

It&#x27;s ironic. In 90s U.S. purposefully sabotaged Japanese chip industry with tariffs and other coercive measures. Today, a Japanese company buys out a poster-child of American industrial capacity.

Where are the subsidies for US Steel? This seems like a critical input for national defense and industry.<p>Even though the Japanese are allies, we should always have a domestic iron in the fire.

ITT Software Engineers who think that US Steel is the only US steel manufacturer because of the name. Nucor is bigger and better. You guys always want to prop up failing companies when we have better alternatives right here.<p>Christ, we&#x27;d have an annual bailout for IBM&#x27;s laptops to keep them from selling to Lenovo. I can just imagine: &quot;All tech companies must buy Thinkpads. The government will give $20b to IBM to continue laptops&quot; to the thunderous sound of HN cheering.<p>Bunch of closet communists here.

Looks like a great deal for shareholders, but not so much for the workers. There is an interesting dynamic at work here.