Word: armco
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Dates: during 1990-1999
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...face spirit. Many who once thought they did not need a union to enjoy good pay and pleasant working conditions have changed their minds. Ruthless company-downsizing drives and continued layoffs, coupled with rising pay for top managers, have made their bosses look a good deal less benevolent. After Armco Steel announced a stock offering that included $45 million to be sold to key managers on generous terms, while leaving health and benefit plans unfunded to the tune of $1 billion, workers at the Middleton, Ohio, mill demanded an election to dump a 50-year-old company association and replace...