- U.S. Steel (NYSE:X) could be in position to restore up to 10K jobs in the U.S. if improvements to regulation and tax laws are able to significantly drive growth, CEO Mario Longhi says.
- "I have not felt an environment of positive optimism, where forces are converging to provide for better environment, in quite a while," Longhi said in a CNBC interview.
- Corporate America is cheering Pres.-elect Trump's promises of less regulation, Longhi says; regulation has a role to play, but the CEO says he agrees with Trump that it "has to be done smartly."
- U.S. Steel has cut jobs and idled plants in the U.S. in an effort to hold down costs amid the drop in steel prices due to a global surplus; the company had ~21K employees in North America as of Dec. 31, down from 28K in 2007.