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This is all over my head and knowledge, and I like Japan and the Japanese people. But, Nippon was the company that built the Japanese fleet of navy ships, planes, and field armaments the USA fought in WWII. The US funded and allowed Nippon to rebuild itself after the war with our money and they were allowed to sell steel cheaper than the US companies. To me, we need to keep US Steel as an American company and remain, or return to, competitive markets.
“Cleveland-Cliffs has a huge presence in northeast Indiana, with about 7,500 employees at plants in East Chicago and Burns Harbor”
The AP is a little confused about geography. East Chicago and Burns Harbor are in NORTHWEST Indiana, not northeast.
“U.S. Steel is now in a dire state due its excessive capital spending, high debt, soft earnings and nonexistent contingency plan,” – So if nothing happens, no merger, does the company go out of business? 🙁