Word: armco
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...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...
Reserve Mining, which is owned jointly by Armco Steel and Republic Steel, produces 15% of the U.S.'s iron ore. It mines taconite around Babbitt, Minn., then ships the flintlike rock 50 miles to Silver Bay, on the shores of Lake Superior. There the iron content of the taconite is extracted, and the wastes, or "tailings," are dumped into the water. Any time that Reserve is attacked for polluting the lake-and the attacks have been continuous since 1967-it says that it might have to close the plant if ordered to stop. That would wreak economic havoc, since...
...also rejected a Government proposal that Reserve move its entire Silver Bay operation to Babbitt. Such a move would cost $ 187 million, said federal officials. Reserve promptly upped the estimate to $575 million, a figure that Judge Lord scrutinized and then branded as "blatantly inflated." On March 1, an Armco executive admitted that Reserve Mining had in fact prepared four or five on-land disposal plans. The judge was aghast. He charged the company with deliberately stalling the trial in the hope of getting the Government to step in and pay for the cleanup...
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...
...Allegheny Ludlum, Armco, Bethlehem, Jones & Laughlin, National, Republic, U.S. Steel, Wheeling-Pittsburgh and Youngstown...