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"And we are not," he told me later, "an inefficient company".
"They needed to run businesses as cash cows," said David Hounshell, a history professor at Carnegie Mellon University, so United States Steel became a lumbering, inefficient company.
To many, government meddling in business mergers smacks of discredited industrial policies that are more likely to produce a large, inefficient company than one that can take on the world's best.
The team is bringing efficiency to a massively inefficient company.
All the software in the world won't save an inefficient company if not everyone is on board.
The Golden State also helps keeps rates down by preventing the pass through to consumers of inefficient company costs, such as "bloated executive salaries", fines and penalties, and lobbying expenses, claims the report.
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Efficient companies sold their allowances and were rewarded; inefficient companies were penalized.
No amount of bailout will keep these notoriously inefficient companies afloat.
The system provided government subsidies for inefficient companies and gave politicians a way to reward supporters.
Many outdated rules protect inefficient companies, while entrepreneurship is kept in check by cumbersome barriers.
Private equity is becoming a tougher business as the low-hanging fruit — inefficient companies — becomes harder to find.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com