News & Brews January 14, 2025
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Cleveland-Cliffs, Nucor consider U.S. Steel bid; U.S. Steel uninterested
The Post-Gazette reports, “Domestic steelmakers Cleveland-Cliffs and Nucor are considering a bid for less than $40 a share for U.S. Steel….” The company rejected a previous bid by Cleveland-Cliffs and this week said it’s still not interested. “U. S. Steel has a merger agreement with Nippon Steel and remains committed to completing it,” U.S. Steel stated. “Only Nippon Steel’s partnership will … guarantee the significant capital investments and technology sharing needed to ensure a strong U. S. Steel for generations to come and protect jobs.” Further, the company can’t consider Cleveland-Cliffs’ bid until June, as the Biden administration recently extended the deadline on the U.S. Steel-Nippon Steel deal.
State treasurer warns agains ‘squandering savings’
As state budget season approaches, Treasurer Stacy Garrity is urging Pennsylvanians to pay close attention to the budget process this year, as the state’s Rainy Day fund is at risk of depletion very soon (due to last year’s Democrat-driven, Shapiro-approved budget). The Post-Gazette reports, “The state Independent Fiscal Office recently projected that spending would surpass revenue by more than $3 billion this fiscal year, eating away at a big General Fund balance that was in place at the start of the year. The projection showed that with continued deficit spending, the Rainy Day Fund will go from $7 billion-plus this year to zero in 2027-28.” This is hardly surprising, as warnings abounded that this is exactly what would happen if lawmakers increased recurring spending without a recurring way to pay for it. Basic math, Folks. Basic math.
Former judge to challenge Krasner, with union support
Today, former Philadelphia Judge Patrick Dugan, who resigned from his seat last month, plans to announce a Democrat primary challenge to city District Attorney Larry Krasner. And already, the politically powerful Philadelphia Building and Construction Trades Council is backing Dugan. Krasner, who is among multiple Soros-backed district attorneys of major cities, has drawn widespread criticism for his soft-on-crime approach. He has not yet announced his candidacy for a third term but is expected to do so.
Williamsport owes Feds $1.4 million for misused funds
The Federal Transit Administration says the city of Williamsport has 30 days to repay $1.4 million in misused funds, but city officials don’t yet know where the money will come from. The issue stems from a misuse of River Valley Transit (RVT) funds under a former city administrator, who was fired in 2020. Last year, the state attorney general’s office charged the former administrator with theft and records tampering.
Report: Transparency needed in collective bargaining
The Institute for the American Worker has published a new report revealing “that likely hundreds of millions of taxpayer dollars are spent each year on costs associated with the process of collective bargaining between the federal government and labor unions.” These costs range from “the bargaining process itself” and “government union perks” to a “government union-focused bureaucracy” and so-called “official time,” in which union workers don’t show up for their taxpayer-funded jobs but instead go work for the union, while continuing to receive a taxpayer-funded salary.