Word: bsc
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...Harvard JV Hockey Squad handed Boston State a 10-3 defeat yesterday afternoon--the second win this season over BSC--to bring its season record...
...mollify opposition to nationalization, the government divided BSC into four geographical regions, each run by an executive of an old private steel company. The regional managers tried to maintain their operations as separate entities and ignored Melchett's efforts to exert centralized control. One manager, for example, announced an ambitious investment plan without even telling Melchett about it. Lately, however, Melchett has got a firm enough grip on BSC to draft a long-range modernization program...
Forced Subsidy. The company's efforts to earn the profits to pay for that modernization, however, have yet to succeed. Although BSC had 1968 sales of $2.6 billion, which ranked it as the world's third biggest steelmaker, behind U.S. Steel and Bethlehem, the company lost $29 million, and there is no immediate prospect of getting out of the red. Melchett has been frustrated in efforts to cut costs, partly by the government's policy of protecting the nationalized coal mines. BSC is not allowed to import low-cost foreign coal, and purchases of foreign...
Melchett was stopped by the government's Prices and Incomes Board, which ruled late in May that BSC could raise prices only $96 million. The board's order was intended to help British export industries-most of which are not nationalized-by holding down the costs of their steel. Melchett angrily protested against forcing BSC to subsidize exports, but to little avail...
...Despite BSC's troubles, the ardor of Labor's left wing for more nationalization has not dimmed. Last month a party committee recommended that the government take control of drug manufacturing and movie theaters, either by starting new companies or nationalizing existing ones. Such proposals stand small chance of adoption, but there is equally small chance that steel will soon be returned to private hands. To buy BSC, which has assets of $3.3 billion, an enormous investment by any private group would be required. The government's policies hardly promise enough profit to justify such an investment...