US Steel's 1982 loss sets a post-depression mark

US Steel Corporation, the nation's No. 1 steelmaker, said it lost a record $ 361 million last year, the steel industry's worst since the depression. The expected loss, the steel giant's largest ever and first since 1979, compared with 1981 net income of $1.1 billion. It resulted from write-offs for plant closings and massive steel operating losses. Steel losses alone totaled $ 852 million as shipments fell to their lowest levels since 1938, US Steel said.

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...