US Steel, once the world’s largest corporation, agrees to sell itself to a Japanese company | CNN Business
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US Steel has agreed to be bought by NIppon Steel, Japan’s largest steelmaker, in a $14.1 billion deal.

The former most valuable corporation in the world sold to a Japanese company for basically chump change. (Hint to any lurking butthurt libs: don’t, for the love of heaven, look up statistics on Chinese steel manufacturing).

  • JucheBot1988@lemmygrad.mlOP
    4·
    11 months ago

    Exactly, it’s not a “win” for American workers, except perhaps in the limited sense that Japanese management is maybe a bit less likely to run the company into the ground. But it is a symptom of America’s terminal decline as an industrial power.

    Also, US Steel is a merger of several companies founded by the 19th century “robber baron” industrialists, who are still held up as more-or-less flawed heroes in the US. If it weren’t for the effect on workers, one might feel a certain schadenfreude at this turn of events.