2006 was a great year for United States Steel. That year, the company reported a net income of $1.4 billion for the year compared to a net income of $910 million the year before. It continued to chug along until the world economy ground to a halt in 2008 when its stock peaked and then took a nosedive.
In 2008, the company was forced to lay off 3,500 salaried and union workers, since raw materials were in lower demand. United States Steel didn't go under, but while the economy is recovering, growth in the steel market is still slow.
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