Wednesday, November 20, 2013
32 years ago
today yesterday (meant to post this yesterday, but was distracted) the nearly unthinkable happened.. U.S. Steel bought Marathon Oil in a mostly unleveraged deal enabled in large part with money it was not using to reinvest into its existing capital. A few years later the newly re-conglomerated firm took on the name USX and moved its headquarters to Houston. The Steel City would be left without Big Steel.