Word: alcoa
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Newsmen also asked about Ford's acceptance, while he was a Congressman, of free golf outings and overnight stays at private clubs. The bills were paid by several corporations, including U.S. Steel, Bethlehem Steel, Alcoa and Firestone. The matter was hardly of great significance, since such freebees were common, at least in preWatergate Washington. Carter, in fact, has conceded that he and his family were guests of Brunswick (Ga.) Pulp &Paper Co. at its showcase "pine plantation" for several days in 1972, when he was Governor of Georgia. He had been invited there, the company said, to discuss...
Since April, the company has rented 300 sheep to clients that include a school, a doctor and local subsidiaries of Alcoa and American Home Products. Customers must take a minimum of five sheep for the whole summer and graze them on at least 1¼acres of lawn that is free of chemicals. The fee: $7.80 per sheep per season. That barely covers insurance on the animals. But Anette and her partners. Mother Doris, 48, and Brother Tom, 18, expect to make a sizable profit in the fall by taking back the sheep-by then nicely fattened-and selling them...
Thus Rees moved swiftly to head off a series of price boosts announced by the highly concentrated aluminum industry. Alcoa, for example, proposed an average 2.3% Increase on 60% of its shipments-although its mills are operating at only 74% of capacity and inventories of unsold metal are large. Aluminum companies argue that they have to recover higher operating costs (Jamaica, a prime source of the raw material bauxite, has raised the price more than 700% in the past year) and that anyway, low prices do not move metal in the face of still weak demand. Though the council...
...organization are. Moreover, "the 200 largest business corporations also control two-thirds of all of the manufacturing assets in the U.S.," making them "each giant fiefdoms" and giving them disproportionate economic and political power. The real enemies, though, are those families--like the Mellons, who have substantial holding in ALCOA, the Mellon National Bank. Gulf and First Boston Corporation, and the Rockefellers, who seem to be to the American economy what a chain is to a bicycle--that own so much concentrated wealth in core industries that they make the Privy Council under George III look like Common Cause...
...remodeled bomb shelter in the Kelly Butte area of Portland. The Red Cross installed a bank of phones for use if the current "standby alert" for a Portland-area disaster goes "red." Two of the Pacific Northwest's largest users of electricity, Reynolds Metals in Oregon and Alcoa in Washington, are particularly threatened. A power cutoff of five hours would wreak such havoc that, Reynolds estimates, it would cost the company $7 million to start up its plant again...