4 ms·
The book American Steel by Richard Preston is an engaging read about the rise of Nucor.
by eej71 4y ago
The book American Steel by Richard Preston is an engaging read about the rise of Nucor.
- chasil 4y agoBy my count from the wiki, this company reinvented itself at least 6 times. First Ransom E. Olds made the REO Speed Wagon after leaving Oldsmobile(GM). This went chapter 11 bankrupt. After reorganization, it tried to focus on making trucks. That wasn't profitable, so they planned on chapter 7 bankruptcy. Shareholders saw a usable tax loss, so they used a proxy fight to force a reverse merger with a nuclear power supply company. The nuclear angle wasn't working out, so they bought Vulcraft, a maker of steel joists. They sold everything else, other than Vulcraft, then went on a buying spree of steel technologies and scrap companies. This company is the cat with nine lives. https://en.m.wikipedia.org/wiki/Nucor#History https://en.m.wikipedia.org/wiki/Nucor#History