Final thoughts

Well, maybe I’m getting my dates wrong here. Still, there’s a grain of truth in that last one. At last year’s Summit, one of the biggest questions was whether or not the United Autoworkers (UAW) would go on strike against the Detroit-Three automakers. (Spoiler alert: It did.) And less than a week out from Steel Summit 2024, we can quote that old Yogi Berra adage: “It’s déjà vu all over again.”

That is, history is not exactly repeating but rhyming. New UAW President Shawn Fain really turned up the rhetoric last year. The “Stand-Up Strike” against the Detroit Big Three that started last September had no shortage of colorful language against the corporations and the “billionaires.”

Just this week, though, we’ve seen the UAW threatening another nationwide strike, this time targeting only Stellantis. Find more info on that in today’s newsletter here.

Plus, in a video last week, Fain said, “It’s time to put an end to corporate greed at Stellantis.” And, in order to lower the temperature in a contentious presidential election season, Fain wore a “Trump is a scab” t-shirt Monday at the Democratic National Convention in Chicago.

So we’ll be keeping tabs on that.

Trains and ports

Two more large work actions could be coming down the pike soon, potentially affecting shipping and logistics across North America.

One possible work stoppage to watch out for is the International Longshoremen’s Association (ILA), which could go out on strike on Oct. 1 if an agreement is not reached with the US Maritime Alliance (USMX).

The ILA has 85,000 members.

“We will stand strong to win a new contract that adequately compensates our hard-working and dedicated ILA longshore workforce, and simultaneously are preparing to strike at all ports from Maine to Texas come Oct. 1, 2024, if a new agreement is not reached,” International President Harold J. Daggett said in a statement on Aug. 10.

For Canada, work action was looming on Thursday for two of the country’s rail providers.

CN and Canadian Pacific Kansas City (CPKC) have said they will lock out Teamsters Canada Rail Conference workers on Aug. 22 at 12:01 a.m. ET, in the event a negotiated settlement cannot be agreed upon.

Whither USS?

Finally, at Steel Summit 2023, the sale of U.S. Steel was the subject that dared not speak its name. Mainly because nothing was clear, except that USS had rebuffed an initial offer from Cliffs.

A year later, and we know that Nippon Steel became the accepted suitor in a deal valued at more than $14 billion. That deal, although approved by shareholders and the USS board, still needs to pass through some regulatory hurdles.

Ripped from the headlines, former President Trump reiterated his opposition to the deal on Monday, according to a Bloomberg article. (President Biden has also said he opposed the deal.)

Likewise, Pennsylvania Gov. Josh Shapiro, in the same article, repeated that he is against any deal that is not backed by the USW. We’ll see, in Atlanta, if any further clarity has come to the situation or if we will likely have to wait until after the election.

The final countdown

With less than a week until the festivities, over 1,400 people have already said yes to the premier flat-rolled steel event in the country. If you are one of those folks, thank you, and we look forward to seeing you next week! If you’re not already registered, it’s not too late to join us! You can register here. Just a few more registrations and this will be another SMU Steel Summit for the record books. We will see you soon!