Nucor CEO's view on the US economy: "Worse than we thought, better than we fear" Given all the turmoil in the US economy recently, Platts Steel Markets Daily (SMD) sought out Dan DiMicco, Nucor's chairman, president and CEO, for his always-unique perspectives -- political, economic and otherwise. Who better? Nucor, which now claims to make more steel on American soil than any other producer, has also paid 142 consecutive cash dividends to its shareholders -- a good number of them coming during DiMicco's tenure. This spring, Nucor was ranked number 25 among the BusinessWeek 50 top-performing companies -- its third time on the prestigious list in four years. In July, DiMicco was appointed to the United States Manufacturing Council by US Commerce Secretary Carlos M. Gutierrez. DiMicco agreed to answer SMD's questions exclusively via e-mail. Other senior executives from major steelmakers were also invited to share their opinions. With uncertainty and public fury surrounding the current $700-billion bailout package before the US Congress, Daniel R. DiMicco, chairman, president and CEO of steelmaker Nucor is urging support of the plan. "At this point in time we need to trust -- which for some may understandably be very difficult -- the Bush team and [Treasury] Secretary Paulson, on the need for this bailout of our financial system," DiMicco told Platts recently. If they are right, and I believe they are from what we can see in our world of steel, then we have no choice but to support their plan and with minimal delays." For the complete Platts Steel Markets Daily interview with Nucor's CEO Dan DiMicco, click here. Global iron ore markets roundup Global director of steel, Francis Browne, and Platts Steel Markets Daily managing editor, Joe Innace, discuss a dichotomy in the global iron ore markets, focusing on the price differential between Australian and Indian iron ore. Listen now...
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