There are no domestic steel companies immune from takeover interest.

For years, that's been the big impediment to buying AK Steel.

Look, I have no interest in this, ... I don't know Donovan. What he does doesn't affect me, but as an athlete, I have to say if you need surgery and you don't have this done, you're cheating yourself. Fly over there and be done with it.

They've got $3.6 billion in pension and healthcare liabilities. The deal would make sense from a strategic point of view, but there are a lot of issues that would need to be addressed. It would attract pretty thorough scrutiny from the government.

Steel companies need cash to operate. Steel prices fluctuate and steel companies need cash to manage the ups and downs of the historically cyclical market. Raiding cash during good times is short sighted and counter to the long-term interest of the company.

Our first shipment after Katrina was steel that was in one of our terminals. It arrived before Katrina, and they barged to the Hyundai plant in Alabama less than two weeks after Katrina.