Free Republic

U.S. Steel has locked out 900 employees at its plant in Hamilton, Ont., according to local media. The Hamilton Spectator reported that the company locked the gates of the Burlington Street facility on Sunday night. Earlier, Local 1005 of the United Steelworkers of Canada said employees received letters Saturday evening saying the company would lock out workers as of 7 p.m. Sunday. The union said the company is demanding workers put a Nov. 4 contract offer to a membership vote. The offer, which U.S. Steel calls "final," was sent through the mediator appointed by the provincial Ministry of Labour. Workers...

PITTSBURGH -- U.S. Steel Corp., the first major domestic steelmaker to report earnings, swung to a fourth-quarter profit of $462 million from a year-earlier loss, helped by strong demand, particularly in its tubular business. The company posted net income of $3.55 a share, its fourth straight quarterly profit after four quarters of losses in 2003, before a pricing boom lifted the steel industry's profits and share prices. U.S. Steel, the country's largest steelmaker, had a loss of $22 million, or 26 cents a share, a year earlier. Fourth-quarter revenue surged 47% to $3.93 billion. World-wide, the company shipped 5.4 million...

<p>PITTSBURGH -- U.S. Steel Corp., the nation's largest steel maker, said Thursday it will purchase bankrupt National Steel Corp. for about $750 million.</p> <p>Under the deal, U.S. Steel would also assume about $200 million of its smaller rival's debt.</p> <p>U.S. Steel could increase production capacity by as much as 40 percent and expects a combined annual cost savings of about $170 million within two years of purchase, company officials said. Savings will come from a reduction in redundant overhead, transportation costs and an improved labor contract, company officials said.</p>

PITTSBURGH (AP) - U.S. Steel posted earnings Monday of $106 million for the third quarter, due mostly to higher production and steel prices. The nation's largest integrated steelmaker reported a profit of $1.04 a share, compared to a loss of $23 million, or 26 cents a share, in the same period last year. Excluding a one-time charge, the Pittsburgh-based company reported it earned $103 million, or $1 per share, compared with loss of $17 million, or 19 cents a share, a year earlier. It was the second consecutive quarterly profit for U.S. Steel, and the second quarter in a row...