Manage episode 376303175 series 3317274
“You can’t unscramble eggs.” – J.P. Morgan
There are few companies in the United States as storied and historic as U.S. Steel.
Dating all the way back to the Gilded Age, U.S. Steel was formed in 1901 when J.P. Morgan financed the merger of Andrew Carnegie’s Federal Steel and National Steel, into one behemoth. The resulting company is the now second largest steel company in the United States and the eighth largest in the world.
U.S. Steel has survived industrialization, two world wars, and the modern era of global supply chains. Now however, their future is anything but certain. And there are multiple factors converging to bring them to their knees.
In this week’s episode of Dial P for Procurement, Kelly Barner looks at the complicated set of pressures being faced by U.S. Steel:
- The current status of the company and what led them to start entertaining buyout offers
- The role of the federal government in the steel industry, given its national security significance and constant pressure from China
- The undeniable impact of organized labor in yet another major news story