Word: blough
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...based Inland Steel, the nation's seventh-ranking producer, whose Chairman Joseph Block, 63, was a Kennedy Administration hero for his 1962 part in upholding the guideposts principle. That was when President Kennedy went on television to denounce American steel-men-most particularly U.S. Steel's Roger Blough-as a band of economic bandits for having raised prices in violation of the guideposts. At that time Block refused to go along with the industry in proclaiming a price rise. A price hike was "untimely," according to Block, and Inland would keep prices where they were. Under presidential pressure...
...explained. The predictable White House rejoinder is that the President doesn't want to lose the support of the business community. But President Kennedy, in greater need of additional support than Johnson has ever been, did not suppress a blow-by-blow account of his 1962 fight with Roger Blough over steel prices...
...Disastrous" Spending. Most businessmen are naturally distressed about the difference between the Government's reaction to their own attempts to go beyond the price lines and union breakthroughs on the wage front. But in a St. Louis speech last weekend, U.S. Steel Chairman Roger Blough placed the blame for present inflationary pressures not on unions for their wage demands, and certainly not on corporations for seeking to raise prices. Rather, he criticized the Johnson Administration for trying to fight the Viet Nam war even while refusing to cut down in any way the spending it deems necessary for achieving...
...guidelines had hardly anything to do with his successful though costly battle to make U.S. Steel roll back an announced $6-per-ton across-the-board price hike in 1962. On that memorable occasion, Kennedy simply felt that he had been double-crossed by U.S. Steel Chairman Roger Blough, and he lost his Irish temper...
...stocks that even though presumably solid are still relatively cheap and considered to be speculative. At the old year's end and the new year's start, the heavy buying was in blue chips. Among these, of course, were steel stocks, and presidential approval of Roger Blough's pricing diplomacy sent steel stocks...