Word: cannings
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...French Banque de Paris et des Pays Bas agreed to put up more than $14 million to buy a 20% interest in the Chicago-based food processor, Libby, McNeill & Libby, which only recently was criticized by De Gaulle's government for its plans to set up a major canning operation in the south of France. Presumably, Libby will now be welcome. In Hawaii, Tokyo's Kokusai Kogyo Co. is awaiting only Japanese government approval before handing over $8.7 million to buy Sheraton's luxurious Princess Kaiulani Hotel on Waikiki. London's Consolidated Gold Fields of South...
...doing less hedge buying than before last year's contract talks. Industry sources estimate that hedging accounts for no more than 15% of all orders. Though the thriving automakers are prudently stockpiling heavily, most of the industrywide pickup reflects immediate need. Tin-plate demand is rising as the canning season approaches, and appliance makers need more steel because their sales are running 12% to 20% above last year's high levels. Builders also need more structural steel because of the rise in capital spending (see below...
Fishy Existence. The Van Camp family got into canning in Indianapolis in 1861, when Gilbert Jr.'s great-grandfather began packing tomatoes; subsequently his offspring began putting up pork and beans. In 1914 the Van Camps sold off the Indianapolis business-which ultimately fell into the hands of the Stokely family-and headed for California and tuna. Though the Stokelys retain the Van Camp name on their pork-and-beans can, the Van Camps no longer have any interest in pork and beans. But they own 60% of Van Camp Sea Food...
...Milwaukee's General Mitchell Field one day last week, a landing airliner was greeted by a 100-piece high school band, a chorus of can-canning cheerleaders and a cluster of city officials. Out stepped Milwaukee's Ralph Votapek, 23, to be greeted by Mayor Henry Maier. "For too long," intoned the mayor, "Milwaukee has been symbolized to the rest of the nation only by beer and the Braves. Now, thanks to Ralph Votapek, we have added a third and very important B to our national honors-Beethoven." He proclaimed Ralph Votapek Day and announced that Votapek...
...eight months of this year, while exports (1,300,000 tons) showed only a 2% rise.* More important, domestic demand has been so disappointing that production in the first week of October fell 1% to 1.746,000 tons, the first decline since Labor Day. Tinplate is off because the canning season is over, and galvanized sheet is soft because of the tailoff of the construction season. Worst of all, orders from Detroit are below expectations-largely because the stockpiles that the automakers built up last winter as strike insurance were apparently much larger than steelmen thought, and the auto companies...