Word: armco
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Dates: during 1960-1969
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...William Verity Jr., President, Armco Steel Corp...
Steelmen faced much the same paradox as automen: pinched profits amid strong sales. Among the six major steelmakers reporting for the third quarter last week, higher earnings were registered by two-Bethlehem and Jones & Laughlin-and lower earnings by four -National, Armco, Inland and, most significantly, U.S. Steel. That giant's profits were off 14%, to $62 million, but its directors raised the quarterly dividend from 500 to 600, and they would not have done so unless they felt that the company could comfortably stick with the higher dividend. Industry analysts expect that steel production this year will reach...
Clandestine Meetings. The $400,000 total of fines, highest ever in the industry's history, was levied against its six largest companies-U.S. Steel, Bethlehem, Republic, Armco, National and Jones & Laughlin-as well as Wheeling Steel and National's Great Lakes Steel subsidiary. The judge also allowed no contest pleas by the only two individuals indicted: James P. Barton, 62, U.S. Steel's assistant general manager of administrative service, and William J. Stephens, 58, hard-selling president of Jones & Laughlin. Stephens, who worked for rival Bethlehem as an assistant vice president at the time covered...
...Dukes, a pair so steeped in inherited wealth and social know-how that their palms might very likely include a Reception Line, etched in somewhere between Life and Fate. Lloyd Hand is the son of a steelworker who began as a laborer for Sheffield Steel (now part of Armco Steel Corp.) in Alton, Ill., became a rolling-mill supervisor, and was sent to the company's new branch in Houston when young Lloyd was ten. Lloyd was the first member of his family to attend college. He worked his way through the University of Texas and ended...
...decade. Such companies as Inland were quicker to react to the fact that the great postwar and post-Korea steel shortage ended in 1957, and they stepped up their selling drives. While U.S. Steel continued to concentrate on the heavier and less profitable grades of steel, such specialists as Armco and Youngstown marketed more and more of the lighter and flat-rolled steels that have taken larger bites of the market...