Welcome to MetalCrawler, your daily fix for industrial metal news, price movement updates and complaints about the design of new buildings. Larry Summers doesn’t like the amount of infrastructure investment and U.S. Steel just learned everyone at the planning commission is a critic.
Wait, That’s All There is?
Pittsburgh’s planning commission got its first glimpse Tuesday of the proposed U.S. Steel headquarters to be built in the city’s Hill District and they were not big fans. Chairwoman Christine Mondor told the Pittsburgh Post-Gazette, “I’m just concerned that it looks like it could be anywhere,” she said of the new building. “It looks like it could be a suburban office building somewhere.”
The L-shaped headquarter will prominently use steel and glass, two of the products that have figured prominently in the city’s history, according to developer Clayco. Everyone’s a critic these days.
Summers: Net-Zero Infrastructure Investment in the Western World
Former Treasury Secretary Lawrence Summers said in a speech at Princeton that investment by major industrialized US and European nations in infrastructure is not expanding.
“At this moment . . . the share of public investment in GDP, adjusting for depreciation, so that’s net share, is zero. Zero,” Summers said. “We’re not net investing at all, nor is Western Europe. In other words, total federal, state, and local government investment is enough to cover only the amount of wear and tear on bridges, roads, airports, rails, and pipes. Can that possibly make sense?”