Word: buts
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Dates: during 1970-1979
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It was the fear of strikes every three years when the union contract came up for renewal that led steel customers to buy still more imports to hedge their supplies. But when steel imports rose from a 13.4% share of the domestic market in 1975 to 17.7% in 1977, the...
The deal seemed all set when Treasury Secretary G. William Miller declared early in November that the Administration was, after all, prepared to back a $1.5 billion rescue fund for Chrysler. But now the outlook is a lot less sure. Opposition to Government aid is gaining ground, not only in...
So the committee instead wrote and approved a much tougher bill. It offers Chrysler federal guarantees of $1.25 billion and demands, as a firm precondition, major concessions from all who stand to benefit from the company. It also seeks the creation of an employee stock ownership plan, which some Senators...
The company's 102 lenders fear that if guarantees are granted, but Chrysler still goes bankrupt, federal law requires the Treasury to have a first claim on its assets. Probably not enough money could be raised from selling off its plants and other assets to cover both federally guaranteed...
Some fortunate parts of the country may not feel the recession at all. The Southwest and Intermountain West continue to surge, largely because of high demand for their energy resources; the Southeast is also generaly well off. But heavy industry areas of the Northeast and Upper Midwest, which rely largely...