U.S. Steel Reorganizes Operating Units

U.S. Steel Tower in downtown Pittsburgh, Pennsylvania. (Photo credit: Wikipedia)

U.S. Steel Corp. is reorganizing its three operating units to focus on industries the company serves, the latest phase in the Downtown-based company’s Carnegie Way program to cut costs, boost revenue and return to profitability.

As part of the new management structure, U.S. Steel is realigning its North American Flat-Rolled division to focus on five markets: automotive, consumer, industrial, service centers and mining.

“These commercial entities will put our company in a stronger position to be best-in-class in product innovation, customer service and solutions, as well as steel manufacturing,” CEO Mario Longhi said.

The company is renaming its Tubular Products unit Energy Solutions, reflecting its focus on providing steel pipe to the booming oil and gas industry. And its operations in Europe were renamed U.S. Steel European Solutions.

Read more: http://triblive.com/business/headlines/7174309-74/solutions-steel-company#ixzz3JSeCmrZ7
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U.S. Economy Grows At Surprising 2.8 Percent Rate

Seal of the United States Department of Commerce (Photo credit: Wikipedia)

WASHINGTON — The U.S. economy expanded at a 2.8 percent annual rate from July through September, a surprising acceleration ahead of the 16-day partial government shutdown. But much of the strength came from a buildup in company stockpiling.

Home construction also rose, and state and local governments spent at their fastest pace in four years. But businesses spent less on equipment, federal spending fell and consumers spent at a slower pace. All are cautionary signs for the final three months of the year.

Overall, growth increased in the third quarter from a 2.5 percent annual rate in the April-June period to the fastest pace in a year, the Commerce Department said today.

Read more: http://readingeagle.com/article.aspx?id=518462