Everybody misses one important point, Unions and EPA destroyed the US steel industry.
There was a time when like the EPA and unions were necessary. things were bad. But laws have caught up
and both are no longer necessary, but still are around to EFF things up.
The Japanese company made what looks like an overly generous offer for the company.
Is It possible they see a future market that will be very profitable and worth the expense?
Most USA corporations can't see beyond the next quarter, thus they get bought up by people
that can plan things out.
Yes, I'm blaming corporate greed also.
The people running a corporation have a fiduciary responsibility to share holders,
so some aggression to costs is to be expected.
But unions and EPA regulation have become so costly both monetarily and politically the corporations have said
Fu$k it and left.
Guys who run corporations and shareholders still get their money so they could care less.
Union will get squat in the long run.
EPA get funding from Union supported Democrats. Vicious cycle.
Japanese will break that cycle for US Steel and make lots of money.
Full disclosure, I spent the majority of my working life as a union member.
AFL-CIO, SPEEA, and ILWU.
Companies that were AFL-CIO and ILWU were sold off.
