who sold the corporation that became united states steel corporation
Carnegie Steel Company
title: U.S. Steel text: in its removal from the S&P 500 Index in 2014. J. P. Morgan and attorney Elbert H. Gary founded U.S. Steel on March 2, 1901 (incorporated on February 25) by combining Andrew Carnegie's Carnegie Steel Company with Gary's Federal Steel Company and William Henry "Judge" Moore's National Steel Company for $492 million ($ billion today). At one time, U.S. Steel was the largest steel producer and largest corporation in the world. It was capitalized at $1.4 billion ($ billion today), making it the world's first billion-dollar corporation. The company established its headquarters in the Empire Building at 71 Broadway, in title: U.S. Steel text: U.S. Steel United States Steel Corporation (), more commonly known as U.S. Steel, is an American integrated steel producer headquartered in Pittsburgh, Pennsylvania, with production operations in the United States and Central Europe. As of 2016, the company was the world's 24th largest steel producer and second largest domestic producer, trailing only Nucor Corporation. Though renamed USX Corporation in 1986, the company returned to its present name in 2001 after spinning off its energy business, including Marathon Oil, and other assets from its core steel concern. The company experienced significant downsizing during the 1980s; a decline in market capitalization resulted title: U.S. Steel text: a song by folk singer Anne Feeney. In 1984 the federal government prevented U.S. Steel from acquiring National Steel, and political pressure from the United States Congress, as well as the United Steelworkers (USW), forced the company to abandon plans to import British Steel Corporation slabs. U.S. Steel finally acquired National Steel's assets in 2003 after National Steel went bankrupt. As part of its diversification plan, U.S. Steel had acquired Marathon Oil on January 7, 1982, as well as Texas Oil and Gas several years later. Recognizing its new scope, it reorganized its holdings as USX Corporation in 1986, with title: Andrew Carnegie text: quantities and raise wages to workers. To this end, he needed to buy out Carnegie and several other major producers and integrate them into one company, thereby eliminating duplication and waste. He concluded negotiations on March 2, 1901, and formed the United States Steel Corporation. It was the first corporation in the world with a market capitalization over $1 billion. The buyout, secretly negotiated by Charles M. Schwab (no relation to Charles R. Schwab), was the largest such industrial takeover in United States history to date. The holdings were incorporated in the United States Steel Corporation, a trust organized by title: U.S. Steel text: At the end of the twentieth century, the corporation was deriving much of its revenue and net income from its energy operations. Led by CEO Thomas Usher, U.S. Steel spun off Marathon and other non-steel assets (except railroad company Transtar) in October 2001. It expanded internationally for the first time by purchasing operations in Slovakia and Serbia. In the early 2010s, U.S. Steel began investing to upgrade software programs throughout their manufacturing facilities. In January 2012, U.S. Steel sold its Serbian mills outside Belgrade to the Serbian government, as their operations had been running at an economic loss. On May