Word: blough
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...turn: President John F. Kennedy himself stepped in to warn steelmen that they would only spur inflation and court higher taxes if next month's annual pay boost in the steel industry should trigger higher prices. Last week, in a steely cold reply, U.S. Steel Corp. Chairman Roger Blough, a onetime schoolteacher, lectured Jack Kennedy like a Dutch uncle...
...Blough, Columbia University: Assuming that heavy unemployment does not initiate a downward spiral, I would expect business activity to start to rise soon. But I do not see signs of the strong demand needed to stimulate vigorous growth...
...Inventory Miracle." The steel industry continued to report profits despite its recession. U.S. Steel's Chairman Roger M. Blough said that fourth-quarter profits rose to 97? per share from the third quarter's 85?, a good recovery from a strike-depressed 44? in fourth quarter 1959. Big Steel finished the year with profits of $5.17 per share v. $4.25. Of future prospects, Chairman Blough says: "If customers could get along on any less steel than they have at the present time, it would be something like an inventory miracle. In the next month or so we will...
With this news, even steelmen, who have been wrong about their 1960 prospects so often that they have lately maintained a discreet silence, felt more optimistic. U.S. Steel Chairman Roger M. Blough, who last October said that inventories would drop to the 11-12 million-ton level by November, reported in a letter to stockholders that inventories had reached "about the same level they were at the end of the 1959 strike, an estimated 10-11 million tons," and are not likely to undergo "any appreciable further cut. The prospect of an improved operating rate in steel seems much more...
...Blough held out a measure of hope that the worst of steel's recession may be over: "Our customers' inventories have dropped to between 10 million and 12 million tons. It's really too low. They normally should run around 15 million and 16 million tons...