Word: armco
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Dates: during 1970-1979
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...weeks ago that on Oct. 1 it would raise the price of sheet steel, which is used in a wide variety of consumer goods from autos to washing machines, by an average of $10 to $15 a ton. U.S. Steel's competitors quickly followed its lead. But then Armco Steel Corp., in an extraordinary move for the clubby steel business, broke the united front and said it was deferring its planned increases until Jan. 2. Last week U.S. Steel reluctantly canceled its boost, and the rest of the industry fell into line...
...Armco cited "a lack of support for the Oct. 1 effective date by some competitors." As translated by industry sources, this meant that Chairman William Verity Jr. had become irritated when he learned that some steelmakers were making deals to ship flat-rolled steel to selected customers at the old prices after Oct. 1. Verity's move immediately put pressure on competitors to scrap plans for an increase and thus keep pricing policy out in the open...
...appeals court found that Reserve's discharges constituted a threat to the health of nearby communities; it held that the plant could be ordered closed if the state and the company did not agree on an acceptable alternative. Reserve, which is jointly owned by Republic Steel and Armco Steel, said that it could develop a dumping site at a location three miles from Silver Bay. But the state's Pollution Control Agency argued that this site, which involved the construction of a dam, also posed risks to Silver Bay. It rejected the site and recommended a location...
...also established an office of the chairman last September, but abolished it and returned to a conventional organization when Chairman Robert W. Sarnoff resigned in November. Other firms that in recent years have experimented with executive offices of three or more officials are Honeywell, Morgan Guaranty Trust Co., Armco Steel and Associated Dry Goods...
Political Influence. Two weeks ago, the trial hit its emotional peak when Minnesota Deputy Attorney General Byron Starns read notes that supposedly were made during a Reserve board meeting in 1971. The notes, purportedly written by Armco Steel Vice President Harry Holiday Jr., indicated that Reserve and its parent companies had tried to use their political influence in Minnesota and Washington to keep the case out of court. Judge Lord was shocked. "If what is represented in this document is taking place every day in the lives of the corporations of our country," he said, "then I fear...