Ancora presents a plan to revitalise U.S. Steel by replacing its current leadership and implementing a new strategy. They argue that the existing management, led by CEO David Burritt, has damaged labour relations and made poor investment decisions, particularly regarding the Mon Valley Works and the Big River mini mill projects. Ancora proposes a $6.5 billion capital investment program focused on upgrading traditional facilities like Mon Valley and Gary Works, and converting Granite City to produce granulated iron. They believe this approach, guided by a new board and proposed CEO Alan Kestenbaum who has a proven track record at Stelco, will improve profitability, mend relationships with the steelworkers' union, and save thousands of jobs that they claim are at risk under the current leadership.
#stockmarkets #activistinvestor #hedgefund #ussteel #trump #tariffs
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