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Started By
Message
1
Posted on 8/11/22 at 8:07 am to SantaFe
Yeah, they were on the verge of bankruptcy 10 years ago. Credit rating was a C with negative outlook. Surprised it hasn't happened sooner.
Posted on 8/11/22 at 8:12 am to Mingo Was His NameO
quote:
Eh, if one of your most consumed inputs triples you weren't really running that lean.
Go look at their financial statements the last 10 years. If you know how to read them. They have been lucky to survive this long. Shitty management. Their debt service coverage was almost negative. The bond yields we're 7 percent on 5 years in the lowest interest rate environment in the history of US business.
Posted on 8/11/22 at 8:13 am to AllDayEveryDay
(no message)
This post was edited on 8/29/22 at 11:20 am
Posted on 8/11/22 at 8:14 am to SantaFe
Saw this coming. More to follow.
Hey Turtle and Paul, what are you going to do?
Nothing.
Hey Turtle and Paul, what are you going to do?
Nothing.
Posted on 8/11/22 at 8:15 am to Oilfieldbiology
what’s the implications to your industry?
Posted on 8/11/22 at 8:16 am to SantaFe
Didn't the national steelworkers union leadership endorse Biden?
Good job, Fat
Good job, Fat
Posted on 8/11/22 at 8:23 am to Tigers0891
they did. USW 2020 Endorsement Announcement
quote:
“Vice President Biden has long been a friend of workers and our union,” said USW International President Thomas M. Conway. “The USW is proud to stand with him now as he seeks to put our country back on a path toward shared prosperity through responsible leadership.”
quote:
“We also listened to the candidates, examined their responses to our questionnaire and assessed what their past records demonstrate about their values.”
quote:
“Joe Biden spent his life fighting for these things because he understands what it’s like to work for a living. As the son of a working-class family from Pennsylvania’s coal country, he has never forgotten his roots."
quote:
“On issues from creating good paying jobs through significant investment in our crumbling infrastructure to raising the minimum wage, we know Vice President Biden stands with working people,”
This post was edited on 8/11/22 at 8:26 am
Posted on 8/11/22 at 8:35 am to tigeroarz1
quote:
Who is John Galt?
We found the college freshman. So edgy!
Posted on 8/11/22 at 8:40 am to whiskey over ice
quote:
At least we got those documents back from trump though
The nuclear codes were on that cocktail napkin!!!
Posted on 8/11/22 at 8:47 am to mmmmmbeeer
quote:
We found the college freshman
Says the guy that spouts the same idealistic progressive horseshite as every sophomore poli sci major
Posted on 8/11/22 at 8:49 am to upgrayedd
Oh shut the frick up. Market conditions have been this way for 2 and a half years. If you, as a company, haven't adjusted then I feel bad for you. But the market does not.
Posted on 8/11/22 at 8:51 am to mmmmmbeeer
quote:jokes on you, Atlas Shrugged has been axed from freshman courses for two decades
We found the college freshman. So edgy!
Creampies
Posted on 8/11/22 at 8:51 am to SantaFe
The Pittsburgh Recyclables are a SuperBowl lock!
Posted on 8/11/22 at 8:52 am to AllDayEveryDay
quote:Uhh they use energy/electricity for quite a bit more than just keeping the lights turned on and the office cool. Producing metal material requires enormous amounts of power.
If you're running an operation so lean that you can't pay your electricity bill your operation was probably on its way out anyway.
Posted on 8/11/22 at 8:54 am to Abstract Queso Dip
quote:
Go look at their financial statements the last 10 years. If you know how to read them. They have been lucky to survive this long. Shitty management. Their debt service coverage was almost negative. The bond yields we're 7 percent on 5 years in the lowest interest rate environment in the history of US business.
Sounds like you know, so instead of researching I'll just ask, can they not restructure through bankruptcy or another avenue? Just closing up shop seems to be a pretty drastic move
Posted on 8/11/22 at 8:55 am to SantaFe
GD Putin and his executive orders...
Posted on 8/11/22 at 8:55 am to mmmmmbeeer
quote:
We found the college freshman. So edgy!
Almost as edgy as talking about dudes creampieing your underage daughter you sick frick.
Posted on 8/11/22 at 8:59 am to AllDayEveryDay
quote:
Oh shut the frick up. Market conditions have been this way for 2 and a half years. If you, as a company, haven't adjusted then I feel bad for you. But the market does not.
Metal manufacturing has been teetering on the edge for the last 40 years, Einstein. Is this your first or second year in college?
Posted on 8/11/22 at 9:01 am to SantaFe
I can relate. Lost my steel related job last October. Mostly because the price of steel has gotten so high. Last I looked it was around 2000 dollars a ton. Our normally operating number was around 400-900 a ton for the most part.
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