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Encyclopedia > United States Steel Corporation

The United States Steel Corporation (NYSE: X (http://www.nyse.com/about/listed/lcddata.html?ticker=X)) is an integrated steel producer with major production operations in the United States and Central Europe. The company is the world's 9th largest steel producer ranked by sales. They were renamed USX Corporation in 1991 and subsequently United States Steel Corporation again in 2001 when the shareholders of USX spun off its steelmaking assets following the acquisition of Marathon Oil in 1982. It is still the largest integrated steel producer in the United States, although it produces only slightly more steel than it did in 1902. New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE) is the second largest stock exchange in the world. ... Steel framework Steel is a metal alloy whose major component is iron, with carbon being the primary alloying material. ... 1991 is a common year starting on Tuesday of the Gregorian calendar. ... 2001 is a common year starting on Monday of the Gregorian calendar. ... Marathon Oil Corporation (NYSE: MRO), based in Houston, Texas, is a worldwide oil and natural gas exploration and production company. ... 1982 is a number and represents a common year starting on Friday of the Gregorian calendar Events January January 6 - William Bonin is convicted of being the freeway killer. January 8 - AT&T agrees to divest itself of twenty-two subdivisions January 11 - Mark Thatcher, son of the British Prime... 1902 was a common year starting on Wednesday (see link for calendar). ...


J. P. Morgan and Elbert H. Gary founded U.S. Steel in 1901 (incorporated on February 25) by combining the steel operations owned by Andrew Carnegie with their holdings in the Federal Steel Company. At one time U.S. Steel was the largest steel producer and largest corporation in the world. The federal government attempted to use federal anti-trust laws to break up U.S. Steel in 1911. That effort ultimately failed. Time and competitors have, however, accomplished nearly the same thing. In its first full year of operation, U.S. Steel made 67 percent of all the steel produced in the United States. It now produces less than ten percent. John Pierpont Morgan John Pierpont Morgan, Jr. ... February 25 is the 56th day of the year in the Gregorian Calendar. ... Andrew Carnegie (November 25, 1835–August 11, 1919) was a Scottish-American businessman and major philanthropist. ... A federal government is the common government of a federation. ... Antitrust is also the name for a movie, see Antitrust (movie) Antitrust or competition laws legislate against trade practices that undermine competitiveness or are considered to be unfair. ... 1911 is a common year starting on Sunday (click on link for calendar). ...


The Corporation, as it was known on Wall Street, always distinguished itself to investors by virtue of its size rather than for its efficiency or creativeness during its heyday. Because of heavy debts taken on at the company's formation, as Carnegie insisted on being paid in cash for his properties, U.S. Steel found itself outstripped by its competitors. Bethlehem Steel Company, taken over by Charles Schwab the first president of U.S. Steel, after he left U.S. Steel in 1903 took much of this business, driving U.S. Steel's share of the market to roughly 50 percent by 1911. View up Wall Street from Pearl Street Wall Street is the name of a narrow thoroughfare in lower Manhattan running east from Broadway downhill to the East River. ... The Bethlehem Steel Corporation was the second largest steel producer in the United States, after US Steel but it is now part of the International Steel Group (ISG). ... Charles Schwab can refer to: Charles M. Schwab, 19th century industrialist and financier. ... 1903 has the latest occurring solstices and equinoxes for 400 years, because the Gregorian calendar hasnt had a leap year for seven years or a century leap year since 1600. ...


U.S. Steel's production peaked at more than 35 million tons in 1953. Its employment was greatest during World War II in 1943 when it had more than 340,000 employees. It employed approximately 52,500 people in 2000. The federal government has also intervened on other occasions to try to control U.S. Steel. President Harry S. Truman attempted to take over its steel mills in 1952 to resolve a crisis tied to its bargaining dispute with the United Steelworkers of America. The Supreme Court of the United States blocked that, ruling that the President did not have the constitutional authority to seize the mills. President John F. Kennedy was more successful in 1962, when he "jawboned" the steel industry into reversing price increases that Kennedy considered to be dangerously inflationary. The federal government also prevented it from acquiring National Steel in 1984 and political pressure from the United States Congress forced it to abandon plans to import British Steel slabs. It finally acquired National Steel's assets in 2003 after National Steel went bankrupt. The word ton or tonne is derived from the Old English tunne, and ultimately from the Old French tonne, and referred originally to a large cask with a capacity of 252 wine gallons, which holds approximately 2100 pounds of water. ... 1943 is a common year starting on Friday. ... 2000 is a leap year starting on Saturday of the Gregorian calendar. ... For the victim of Mt. ... 1952 was a leap year starting on Tuesday (link will take you to calendar). ... The United Steel Workers of America (USWA) claims over 1. ... Seal of the Supreme Court The Supreme Court of the United States, located in Washington, D.C., is the highest federal court (see supreme court) in the United States; that is, it has ultimate judicial authority within the United States to interpret and decide questions of federal law, including the... Order: 35th President Vice President: Lyndon B. Johnson Term of office: January 20, 1961 – November 22, 1963 Preceded by: Dwight D. Eisenhower Succeeded by: Lyndon B. Johnson Date of birth: May 29, 1917 Place of birth: Brookline, Massachusetts Date of death: November 22, 1963 Place of death: Dallas, Texas First... 1962 was a common year starting on Monday (link will take you to calendar). ... National Steel has several meanings: National Steel is a steel production company in the United States. ... 1984 is a leap year starting on Sunday of the Gregorian calendar. ... The Congress of the United States is the legislative branch of the federal government of the United States of America. ... British Steel is a large British steel producer, privatised in 1988 under the Thatcher government. ...


U.S. Steel acquired Marathon Oil in 1982 as well as Texas Oil & Gas several years later. The corporation found itself at the end of the century deriving almost all of its revenue and all of its net income from its energy operations. The spinoff of U.S. Steel's steel operations followed. 1982 is a number and represents a common year starting on Friday of the Gregorian calendar Events January January 6 - William Bonin is convicted of being the freeway killer. January 8 - AT&T agrees to divest itself of twenty-two subdivisions January 11 - Mark Thatcher, son of the British Prime...


U.S. Steel maintained the anti-labor policies of Andrew Carnegie, who had destroyed the Amalgamated Association of Iron, Steel, and Tin Workers, the union that represented his employees at the Homestead, Pennsylvania plant after a massive strike in 1892. U.S. Steel defeated another strike in 1901, the year it was founded. Andrew Carnegie (November 25, 1835–August 11, 1919) was a Scottish-American businessman and major philanthropist. ... Homestead is a borough located in Allegheny County, Pennsylvania. ... 1892 was a leap year starting on Friday (see link for calendar). ...


U.S. Steel attempted to prevent a recurrence of that sort of insurgence thereafter. When it built Gary, Indiana, named after Judge Gary, in 1906, it maintained the sort of close, paternalistic control over the political and social life of its workers in a mid-size city that coal mine and textile factory owners had in company towns. It also maintained close surveillance of employees' activities, blacklisting many of those who had union backgrounds through spies placed throughout its workforce. Gary is a city located in Lake County in northwest Indiana, near the city of Chicago. ... A company town is a town or city in which all or almost all real estate, buildings (both residential and commercial), utilities, hospitals, small businesses such as grocery stores and gas stations, and other necessities or luxuries of life within its borders are owned by a single company. ... A blacklist is a list or register of people who, for one reason or another, are being denied a particular privilege, service, or mobility. ...


U.S. Steel did reach a modus vivendi with unions during World War I when, under pressure from the Wilson Administration, it relaxed its opposition to unions enough to allow some unions to operate in some of its factories. It returned to its previous policies as soon as the war ended, however, and defeated union organizing efforts led by William Z. Foster, then a syndicalist within the AFL, later a leader of the Communist Party of the United States of America, in 1919. William Edward Foster (February 25, 1881 - September 1, 1961), who renamed himself as William Z. Foster, was the long-time General Secretary of the Communist Party USA and trade union leader. ... Syndicalism is a political and economic ideology which advocates giving control of both industry and government to labor union federations. ... The Communist Party of the United States of America (CPUSA) is one of several Marxist-Leninist groups in the United States. ... 1919 was a common year starting on Wednesday (see link for calendar). ...


During the 1920s U.S. Steel, like many other large employers, coupled paternalistic employment practices with "employee representation plans," quasi-unions under the effective control of management, to forestall union organizing. Those ERPs, ironically enough, eventually became an important factor leading to the organization of the United Steelworkers of America, an independent union aligned with the Congress of Industrial Organizations . The United Steel Workers of America (USWA) claims over 1. ... The Congress of Industrial Organizations, or CIO, was a federation of unions that organized industrial workers in the United States and Canada in the 1930s through the 1950s. ...


U.S. Steel dropped its hardline anti-union stance in 1937, however, when Myron Taylor, then President of U.S. Steel, agreed to recognize the Steel Workers Organizing Committee, an arm of the CIO led by John L. Lewis. Taylor was an outsider, brought in during the Great Depression to try to rescue U.S. Steel from the abyss into which it had fallen, and had no emotional investment in the company's long history of hostility to unions. Watching the upheaval caused by the United Automobile Workers' successful sit-down strike in Flint, Michigan several weeks earlier, and convinced that Lewis was someone he could deal with on a businesslike basis, Taylor sought stability through collective bargaining. 1937 was a common year starting on Friday (link will take you to calendar). ... John L. Lewis John Llewellyn Lewis (February 12, 1880 - June 11, 1969) was a labor leader who served as president of the United Mine Workers of America (UMWA) from 1920 to 1960. ... The Great Depression was a massive global economic recession (or depression) that ran from 1929 to 1941. ... The United Auto Workers (UAW), officially the United Automobile, Aerospace & Agricultural Implement Workers of America International Union, is one of the largest labor unions in North America, with more than 700,000 members in the United States, Canada, and Puerto Rico organized into approximately 950 union locals. ... Flint, Michigan is a city in Genesee County along the Flint River about 60 miles northwest of Detroit. ...


The Steelworkers have had a contentious relationship with U.S. Steel since then, but far less so than it had with "Little Steel" in the years that followed or than the relationship that other unions had with employers in other industries in the United States. The Steelworkers launched a number of long strikes against U.S. Steel in 1946 and 1959, but those strikes were over wages and benefits, not the more fundamental issue of union recognition that led to violent strikes elsewhere. 1946 was a common year starting on Tuesday. ... 1959 was a common year starting on Thursday (link will take you to calendar). ...


The 116 day strike in 1959 had an important, and irreversible, effect, however: by shutting down ninety percent of U.S. steel production, both by U.S. Steel and its competitors, the union opened the door to steel imports, which had been a negligible factor before then. The long decline of the United States steel industry began then.


The union attempted to avoid this problem, and the unintended effects caused even by strikes that did not occur, by entering into the Experimental Negotiation Agreement in 1974. As experience had shown, steelmakers typically increased production tremendously in the runup to negotiations, creating a stockpile as a hedge against a strike. If the strike did not happen, then the employers laid off employees to reduce the glut of unsold steel. Similarly, customers often placed orders elsewhere when the contract's expiration date approached in order to reduce the likelihood that a strike would prevent the employer from filling their orders. 1974 is a common year starting on Tuesday (click on link for calendar). ...


The parties entered into the ENA, which provided for arbitration in the event that the parties were not able to reach agreement on all of the terms of a new collective bargaining agreement through negotiations, as an alternative to striking. The ENA was very controversial within the union, since it compromised the union's right to strike. Arbitration, in the law, is a form of alternative dispute resolution — specifically, a legal alternative to litigation whereby the parties to a dispute agree to submit their respective positions (through agreement or hearing) to a neutral third party (the arbitrator(s) or arbiter(s)) for resolution. ... The Collective Bargaining Agreement (CBA) is the contract between the NHL and the NHLPA that defines the structure of procedural, financial, and disciplinary relationships between the NHL, its teams, and its players. ...


U.S. Steel and the other employers terminated the ENA in 1984. In 1986 U.S. Steel locked out thousands of its employees when it shut down a number of its facilities as a result of a drop in orders on the eve of a threatened strike that never came about.


U.S. Steel and other producers demanded extensive concessions from their employees in bargaining in the early 1980s. The steel industry has likewise sought to spur the federal government to take action to counteract dumping of steel by foreign producers, that is, sale at less than the cost of production made possible by subsidies from those steel producers' governments. Neither concessions nor anti-dumping laws have, however, restored the industry to health. In terms of anti-competitive behaviour Dumping has two definitions: Classically, dumping is a subset of what is known as predatory pricing. ...


The U.S. Steel Tower in Pittsburgh, Pennsylvania is named after the company and the company's offices take up most of the building. U.S. Steel Tower is the tallest skyscraper in Pittsburgh, Pennsylvania and the 33rd tallest in the United States. ... City nickname: The Steel City Location in the state of Pennsylvania Founded 1758 County Allegheny County Mayor Tom Murphy (Dem) Area  - Total  - Water 151. ... State nickname: The QUENESE PERSON STATE Other U.S. States Capital Harrisburg Largest city Philadelphia Governor Ed Rendell Official languages None Area 119,283 km² (33rd)  - Land 116,074 km²  - Water 3,208 km² (2. ...


The Pittsburgh Steelers football team was so named because of the steel industry in Pittsburgh. Conference AFC Division North Founded 1933 Home Field Heinz Field City Pittsburgh, Pennsylvania Colors Black and gold Head Coach Bill Cowher All-Time Record (W-L-T) (At Start of 2005 Season) 508-498-21 The Pittsburgh Steelers are a National Football League team based in Pittsburgh, Pennsylvania. ...


External links


  Results from FactBites:
 
U.S. Steel - Wikipedia, the free encyclopedia (1195 words)
The Corporation, as it was known on Wall Street, always distinguished itself to investors by virtue of its size rather than for its efficiency or creativeness during its heyday.
The Supreme Court of the United States blocked that ruling that the President did not have the constitutional authority to seize the mills.
U.S. Steel maintained the anti-labor policies of Andrew Carnegie, who had destroyed the Amalgamated Association of Iron, Steel, and Tin Workers union that represented his employees at the Homestead, Pennsylvania plant after a large strike in 1892.
  More results at FactBites »

 
 

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