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Started By
Message
US Steel doubles profits with tariff price increases--buys back stock, gives raises
Posted on 11/2/18 at 8:24 pm
Posted on 11/2/18 at 8:24 pm
LINK
So US Steel, like their competitor Nucor, raised their prices on American consumers after the tariffs and made a huge amount of money (are they colluding??).
Did they fight the foreigners and cut their price with their tariff advantage? did they "screw" those dirty Chinese?? No.
Did they use they use the profits to add thousands of American jobs? No
They announced a huge stock buyback and are giving 14% across the board raises to their union workers.
Nothing new----this is exactly what they have done time and time again when the steel industry has been successful in convincing politicians to punish Americans and give them pricing protection.
MAGA
So US Steel, like their competitor Nucor, raised their prices on American consumers after the tariffs and made a huge amount of money (are they colluding??).
Did they fight the foreigners and cut their price with their tariff advantage? did they "screw" those dirty Chinese?? No.
Did they use they use the profits to add thousands of American jobs? No
They announced a huge stock buyback and are giving 14% across the board raises to their union workers.
Nothing new----this is exactly what they have done time and time again when the steel industry has been successful in convincing politicians to punish Americans and give them pricing protection.
MAGA
18
Posted on 11/2/18 at 8:26 pm to I B Freeman
Well if all that is true can there be any doubt it will end?
Posted on 11/2/18 at 8:26 pm to I B Freeman
IBMeltin
Posted on 11/2/18 at 8:28 pm to I B Freeman
quote:
They announced a huge stock buyback and are giving 14% across the board raises to their union workers.
Who will spend that money and boost the economy where it is spent.
Posted on 11/2/18 at 8:29 pm to Homesick Tiger
I want to know what IB Wofat would do to get the Chinese to play fair and stop stealing?
Posted on 11/2/18 at 8:30 pm to goatmilker
well it is all true and predictable by any thinking person. That link is their quarterly earnings press release
quote:
Can there be any doubt it will end?????
This post was edited on 11/2/18 at 8:47 pm
Posted on 11/2/18 at 8:31 pm to I B Freeman
I don't really give a shite one way or the other. You need to find a new hobby.
Posted on 11/2/18 at 8:31 pm to antibarner
I want to know if antithinking understands the difference between the steel tariffs and the Chinese tariffs???
Posted on 11/2/18 at 8:36 pm to Homesick Tiger
quote:
Who will spend that money and boost the economy where it is spent.
Trickling down and creating American jobs at the expense of Chinese jobs. What is so hard to under stand IB?
Posted on 11/2/18 at 8:39 pm to tenderfoot tigah
quote:
Trickling down and creating American jobs at the expense of Chinese jobs. What is so hard to under stand IB?
You idiot--they didn't do much to stop the importing of steel from whereever it is coming from. Do you not understand that?? They simply went up on price to their regular customer so the Chinese or whoever can continue to sell their steel since USS is not selling it cheaper than they are.
Posted on 11/2/18 at 8:42 pm to I B Freeman
quote:
You idiot--they didn't do much to stop the importing of steel from whereever it is coming from. Do you not understand that?? They simply went up on price to their regular customer so the Chinese or whoever can continue to sell their steel since USS is not selling it cheaper than they are.
Which makes it crony capitalism and not protectionism
Posted on 11/2/18 at 8:44 pm to I B Freeman
Why are you so obsessed with this? I work in the industrial sector and it really hasn’t been a big deal
Posted on 11/2/18 at 8:44 pm to bmy
quote:
You idiot--they didn't do much to stop the importing of steel from whereever it is coming from. Do you not understand that?? They simply went up on price to their regular customer so the Chinese or whoever can continue to sell their steel since USS is not selling it cheaper than they are.
Which makes it crony capitalism and not protectionism
And you favor it.
Call it whatever you want. (What kind of twisted thinking is going on in your head--are you trying to assess the moral differences between government protectionism and crony capitalism?? Is one good and the other bad??
This post was edited on 11/2/18 at 8:47 pm
Posted on 11/2/18 at 8:49 pm to I B Freeman
Yep, you’re just a fricking idiot that invested in Chinese steel.
frick you
frick you
Posted on 11/2/18 at 8:50 pm to I B Freeman
The tariffs were not to eliminate foreign buying, but incentivize American buying.
Posted on 11/2/18 at 8:51 pm to I B Freeman
President makes tariffs. U. S. Workers get raise.
What an a-hole.
What an a-hole.
Posted on 11/2/18 at 8:51 pm to I B Freeman
quote:
Call it whatever you want. (What kind of twisted thinking is going on in your head--are you trying to assess the moral differences between government protectionism and crony capitalism?? Is one good and the other bad
I think both are bad. One is corruption and the other is not
Posted on 11/2/18 at 8:51 pm to tenderfoot tigah
What advantage is there sending American money over seas?
Posted on 11/2/18 at 8:53 pm to bmy
It is the friggin US government policy. Many such policies are corrupt and protectionism. Trump and Ross did this one.
Posted on 11/2/18 at 8:54 pm to Rekrul
It is without question the most important issue of the day. If you can't recognize that you should study it more. When those January increases hit and those additional tariffs hit after that everybody will feel it.
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