Gold Member BOHICA Posted October 23, 2018 Gold Member Share Posted October 23, 2018 https://www.reuters.com/article/us-u-s-steel-union-contract-exclusive/exclusive-u-s-steel-workers-set-to-get-biggest-pay-raise-in-years-sources-idUSKCN1MQ2Q3 Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 23, 2018 Share Posted October 23, 2018 I thought trickle down doesn't work. I'm sure I read it here somewhere. Quote Link to comment Share on other sites More sharing options...
f7ben Posted October 23, 2018 Share Posted October 23, 2018 I just got the email that I passed the electrical assessment for US Steel. It was pretty tough actually. It would be over a $20 per hour pay cut from where I am right now but its still good money and would get me home to MN. Quote Link to comment Share on other sites More sharing options...
xtralettucetomatoe580 Posted October 23, 2018 Share Posted October 23, 2018 Let’s not get too carried away here. They were threatening to strike if their demands for higher pay weren’t met. This wasn’t out of the goodness of US Steel’s heart. It was out of necessity. Record profits and they had no intention of sharing that until threats of strike came up. Quote Link to comment Share on other sites More sharing options...
xtralettucetomatoe580 Posted October 23, 2018 Share Posted October 23, 2018 Just now, f7ben said: I just got the email that I passed the electrical assessment for US Steel. It was pretty tough actually. It would be over a $20 per hour pay cut from where I am right now but its still good money and would get me home to MN. Steve and Ojibwa Jawn were saying there were some large signing bonuses built into the new contract from all this. Quote Link to comment Share on other sites More sharing options...
f7ben Posted October 23, 2018 Share Posted October 23, 2018 Just now, xtralettucetomatoe580 said: Let’s not get too carried away here. They were threatening to strike if their demands for higher pay weren’t met. This wasn’t out of the goodness of US Steel’s heart. It was out of necessity. Record profits and they had no intention of sharing that until threats of strike came up. That is the issue with Union labor and Management. Its adversarial by nature with neither side really concerned about the other. Cleveland Cliffs on the other hand gave the union basically all they wanted and told them thanks and lets make money! Quote Link to comment Share on other sites More sharing options...
f7ben Posted October 23, 2018 Share Posted October 23, 2018 Just now, xtralettucetomatoe580 said: Steve and Ojibwa Jawn were saying there were some large signing bonuses built into the new contract from all this. I wouldnt say large......they got 5k. US Steels profit share isnt very good either.....they still have a pension which I wouldnt value at any more than the paper its printed on though. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted October 23, 2018 Author Gold Member Share Posted October 23, 2018 1 minute ago, xtralettucetomatoe580 said: Let’s not get too carried away here. They were threatening to strike if their demands for higher pay weren’t met. This wasn’t out of the goodness of US Steel’s heart. It was out of necessity. Record profits and they had no intention of sharing that until threats of strike came up. But Us steel wouldn’t of had room to negotiate what the union wants and got if it wasn’t for the trump administration. These wages the union got are a direct result of Trump’s policies. being in a union myself both sides playing hard ball is what happens in negiotations and necessary for both sides. Quote Link to comment Share on other sites More sharing options...
xtralettucetomatoe580 Posted October 23, 2018 Share Posted October 23, 2018 (edited) 3 minutes ago, BOHICA said: But Us steel wouldn’t of had room to negotiate what the union wants and got if it wasn’t for the trump administration. These wages the union got are a direct result of Trump’s policies. being in a union myself both sides playing hard ball is what happens in negiotations and necessary for both sides. True. The policies of this admin helped. Glad they are going to make some more money, but I don’t think anyone can nominate US Steel for company of the year. My info is from two guys that work for them. Edited October 23, 2018 by xtralettucetomatoe580 Quote Link to comment Share on other sites More sharing options...
f7ben Posted October 23, 2018 Share Posted October 23, 2018 2 minutes ago, BOHICA said: But Us steel wouldn’t of had room to negotiate what the union wants and got if it wasn’t for the trump administration. These wages the union got are a direct result of Trump’s policies. being in a union myself both sides playing hard ball is what happens in negiotations and necessary for both sides. US Steel would not be in business any longer had Trump no won......they were bleeding money at a rate that was unsustainable. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted October 23, 2018 Share Posted October 23, 2018 US steel in the highest in the world. Quote Link to comment Share on other sites More sharing options...
f7ben Posted October 23, 2018 Share Posted October 23, 2018 Just now, Mainecat said: US steel in the highest in the world. Derp Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted October 23, 2018 Author Gold Member Share Posted October 23, 2018 1 minute ago, Mainecat said: US steel in the highest in the world. Well let’s get rid of child labor laws and environmental regulations so we can compete. 1 Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted October 23, 2018 Author Gold Member Share Posted October 23, 2018 (edited) 7 minutes ago, xtralettucetomatoe580 said: True. The policies of this admin helped. Glad they are going to make some more money, but I don’t think anyone can nominate US Steel for company of the year. My info is from two guys that work for them. I doubt the unionized employees would be the employees of the year either. If it’s unionized employer, threats and holding each other hostage is practiced everyday.... but it works and works well for both sides! Edited October 23, 2018 by BOHICA Quote Link to comment Share on other sites More sharing options...
frenchy Posted October 23, 2018 Share Posted October 23, 2018 40 minutes ago, f7ben said: US Steel would not be in business any longer had Trump no won......they were bleeding money at a rate that was unsustainable. From the brink of insolvency to almost a billion dollars in facility upgrades and 15% pay increases across the board in a few short months? sounds legit. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted October 23, 2018 Share Posted October 23, 2018 9 minutes ago, frenchy said: From the brink of insolvency to almost a billion dollars in facility upgrades and 15% pay increases across the board in a few short months? sounds legit. No, it sounds sustainable. Quote Link to comment Share on other sites More sharing options...
f7ben Posted October 23, 2018 Share Posted October 23, 2018 5 minutes ago, frenchy said: From the brink of insolvency to almost a billion dollars in facility upgrades and 15% pay increases across the board in a few short months? sounds legit. Take a look at their quarterly performance for the last 5 years and get back to me. They were losing nearly a billion dollars a quarter , drowning in debt and shuttering facilities. They have historically low utilization rates when compared to their peers , avoid investment and infrastructure upgrades and are generally a very poorly run company. If it wasnt for this massive resurgence in steel they were headed for a chap 11 Quote Link to comment Share on other sites More sharing options...
frenchy Posted October 23, 2018 Share Posted October 23, 2018 2 minutes ago, f7ben said: Take a look at their quarterly performance for the last 5 years and get back to me. They were losing nearly a billion dollars a quarter , drowning in debt and shuttering facilities. They have historically low utilization rates when compared to their peers , avoid investment and infrastructure upgrades and are generally a very poorly run company. If it wasnt for this massive resurgence in steel they were headed for a chap 11 I wouldn’t call the results of tarriffs a resurgence. Unless the plan is to keep them indefinitely. Quote Link to comment Share on other sites More sharing options...
f7ben Posted October 23, 2018 Share Posted October 23, 2018 Just now, frenchy said: I wouldn’t call the results of tarriffs a resurgence. Unless the plan is to keep them indefinitely. Did I mention tariffs? Overall market conditions , bolstered by the tariffs and strong demand have lead to excellent margins. It is one of the best periods of activity for the steel industry in 2 decades. If a steel company isnt making a pile of cash right now they are doomed. US Steel did not have long to live if things hadnt turned around the way they did. They were at a junk credit rating and paying astronomical rates servicing their massive debt. I recall reading an article where they were forced to finance a mature note at nearly 15% interest. Quote Link to comment Share on other sites More sharing options...
JEFF Posted October 23, 2018 Share Posted October 23, 2018 1 hour ago, Mainecat said: US steel in the highest in the world. So is US paper and printing. 1 Quote Link to comment Share on other sites More sharing options...
Kev144 Posted October 23, 2018 Share Posted October 23, 2018 2 minutes ago, JEFF said: So is US paper and printing. Quote Link to comment Share on other sites More sharing options...
f7ben Posted October 23, 2018 Share Posted October 23, 2018 4 minutes ago, JEFF said: So is US paper and printing. fucking savage Quote Link to comment Share on other sites More sharing options...
Zambroski Posted October 23, 2018 Share Posted October 23, 2018 5 minutes ago, JEFF said: So is US paper and printing. Sweet fuck. Dude, you just pantsed his diapers! I hope you had your mouth closed. Just when I think he can't get fucking any worse......he ups his idiocy!!! AMAZING. Quote Link to comment Share on other sites More sharing options...
Kev144 Posted October 23, 2018 Share Posted October 23, 2018 1 minute ago, Zambroski said: Sweet fuck. Dude, you just pantsed his diapers! I hope you had your mouth closed. Just when I think he can't get fucking any worse......he ups his idiocy!!! AMAZING. To be fair you're an expert on being an idiot Quote Link to comment Share on other sites More sharing options...
Zambroski Posted October 23, 2018 Share Posted October 23, 2018 Just now, Kev144 said: To be fair you're an expert on being an idiot Why even bother with the apostrophe? Quote Link to comment Share on other sites More sharing options...
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