Laying off 60 % at Mckeesport !!! Bullish ? Hardly !!!
U.S. Steel lays off 142 in McKeesport
Pittsburgh Business Times
Date: Friday, November 30, 2012, 1:37pm EST - Last Modified: Friday, November 30, 2012, 3:25pm EST
U.S. Steel Corp. is laying off 142 hourly employees, almost 60 percent of the workforce at its McKeesport Tubular Operations, due to the rising number of imports and a constant evaluation of business conditions, the company said Friday.
While the Mindless Pumping Engels are here are thinking X tubular business is Sooooo Good ! Here is the real news as the workers are laid off !!! Sound like the tubular products are going like iPhones ? NO !!! Truth is demand is going down so is Institutional support by over 33% any of this sound Bullish ? A Buy Under on the other hand would solve X rising DEBT problems as they continue to LOSE $$$ thru their " Operations " sounds very familiar !!!!
The Mindless Pumpers here didn't see this one or comment because the TRUTH / FACTS about X are not Good !!! Its called Lack Of Demand for steel !!! Over production by the Chinese is spelling Big Trouble for X !!!
Ask why if things are getting better for X .... business picking up why would they layoff 60% of their workers at this plant ? Oh & Sandy stirring up demand it will be spread out over a period of time its not a straight immediate demand like the Mindless Pumpers here say !!!