Thursday, November 13, 2008

Steel My Mind: U.S. Steel to Layoff

United States Steel (US Steel), another steel maker, has decided to keep up with their peers and roll out another 675 employees. USA employees will make up the bulk of that with 500 of them being flattened for the holidays.

These guys produce sheet steel used in autos, which we saw had breathtaking drops, and appliances, which also comes in the big ticket scale backs by clownsumers. With no one for their customers to sell to their customers stop buying their products. As the clownsumer is given their forced wake-upp call to reality and buying only what one can truly afford, these incidents will be forever forthcoming. At least until the process shutters away the belligerent excesses of the past couple of decades.

US Steel is headquartered in Pittsburg, Pennsylvania.

Related:
I Don't Want Your Steel: AK Steel to Idle Factories
Big ticket items taking big hit
Master This! Big Credit Cards Taking Big Hit
Automobile demand meet the cliffs of the Grand Canyon
Car Parts Falling Apart!
Spinning down the drain

No comments: