Fri Dec 20, 2019, 12:09 PM

In October US Steel reported its first loss since tariffs were imposed.

The company also announced it is cutting its dividend by 80% to 1 cent a share. And after previously announcing it would suspend share repurchases, it announced Thursday that it was formally ending its share repurchase program. Shares of US Steel (X) were down 8% in early trading Friday, leaving shares down 32% for the year.
-- CNN Business' Matt Egan contributed to this report

https://www.cnn.com/2019/12/20/business/us-steel-mill-closing/index.html

All that winning!

And a boatload of jobs being lost as plants close!

https://www.democraticunderground.com/100212803252

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3 replies	Author	Time	Post
In October US Steel reported its first loss since tariffs were imposed. (Original post)	OhNo-Really	Dec 2019	OP
Such a deal!	Newest Reality	Dec 2019	#1
So they burned out their Trump Tax bonus on stock repurchases...	Wounded Bear	Dec 2019	#2
Fantastic Business Model isn't it.	Wellstone ruled	Dec 2019	#3

Response to OhNo-Really (Original post)

Fri Dec 20, 2019, 12:12 PM

Newest Reality (12,705 posts)

1. Such a deal!

Look at the art of that! Woah!

Hey, why don't I get to ruin everything and brag about what a great job I am doing?

Sometimes, life just isn't fair.

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Response to OhNo-Really (Original post)

Fri Dec 20, 2019, 12:36 PM

Wounded Bear (43,929 posts)

2. So they burned out their Trump Tax bonus on stock repurchases...

and now they have to start cutting production and staff.

That about right?

Wow, if only we could see this coming. Oh wait! We did.

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Response to Wounded Bear (Reply #2)

Fri Dec 20, 2019, 01:26 PM

Wellstone ruled (34,661 posts)

3. Fantastic Business Model isn't it.

Anyone that has a clue as to how mega Tax Breaks work for Business,just saw proof positive the end results. Those results did not produce a single Job or a single Widget. In fact,it caused US Steel to shuttered Three Major Plants in 2019,

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