Cleveland-Cliffs celebrates 175-year milestone

[mahatmakanejeeves]

Cleveland-Cliffs celebrates 175-year milestone

5 hrs ago

Company rings NYSE closing bell

CLEVELAND — Cleveland-Cliffs Inc. rang the closing bell at the New York Stock Exchange Tuesday to celebrate the company’s 175th year anniversary. ... Lourenco Goncalves, Cleveland-Cliffs' Chairman, President and Chief Executive Officer, members of the company’s board of directors and executive management team participated in the event.

{snip}

Headquartered in Cleveland, Ohio and operating in the Great Lakes region since 1847, Cliffs went public on the New York Stock Exchange in 1960. The New York Stock Exchange streamed the closing bell ringing on its website: https://www.nyse.com/bell. A video of the bell-ringing will be archived on that same page after the livestream.

About Cleveland-Cliffs Inc.

Cleveland-Cliffs is the largest flat-rolled steel producer in North America. Founded in 1847 as a mine operator, Cleveland-Cliffs also is the largest manufacturer of iron ore pellets in North America. The Company is vertically integrated from mined raw materials, direct reduced iron, and ferrous scrap to primary steelmaking and downstream finishing, stamping, tooling, and tubing. C-C is the largest supplier of steel to the automotive industry in North America and serves a diverse range of other markets due to its comprehensive offering of flat-rolled steel products. Headquartered in Cleveland, Ohio, Cleveland-Cliffs employs approximately 26,000 people across its operations in the United States and Canada.

[mactire]

1. Cleveland Cliffs

Their quarterly profit growth percentage as reported in March of this year is +1,327, fiscal year profit growth +924. Buybacks amount to $1.0 billion . They are among corporations reaping their highest profits in 70 years! U.S. workers’ wages have increased 1.6 per cent in the past 2 years period. I try to explain this to my Republican voting “friends” when they spew the b.s. about inflation and who is responsible. Deaf ears usually, but I won’t give up.

[mahatmakanejeeves]

2. Looking at one quarter only gives an unrealistic view of the company's performance.

Look at the results for the last ten years.

The stock has only recently shown strength. For the most part, it's been a losing proposition.

[mactire]

3. Results

CC’s revenues since 2010 have consistently been in the black. There was slight declines in quarterly and yearly GROWTHS, but not in profits. I’m not citing stock performances but profit performance. I’m also just stating facts that are available; it’s neither an argument nor an opinion. Ta