Word: chairman
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Dates: during 1980-1989
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...avoid annihilation, Big Steel had to slash its costs. "Our labor alone put us out of the ball game," says USX Chairman David Roderick. In 1980 the U.S. industry's workers made $17.46 an hour, vs. $9.63 for their Japanese counterparts. Big Steel embarked on a wholesale payroll-cutting campaign in which 60% of the industry's 428,000 workers lost their jobs. Those who remained gave generous pay concessions. Last year U.S. steelworkers earned $22.63 an hour -- equal to $15.48 in 1980 dollars -- vs. $18.52 in Japan...
...mills. The resurgent Japanese steel industry has cut its work force 18% in the past three years, to 228,000. Europe's steel industry, subsidized to the tune of $57 billion since 1975, is now largely self-sufficient owing to higher productivity. Because of such moves, says Walter Williams, chairman of Bethlehem Steel, "we'll never be able to go back to the good old days." Big Steel has finally realized that the less comfortable it is, the brighter its future will...
...raider's fattened cash hoard raises the question of where he will strike next. Icahn, who took over TWA and became its chairman, already owns 11.4% of USX, and has shown interest in buying at least some of the assets of Texas...
Prime Minister Yitzhak Shamir has an image problem. Ever since Palestine Liberation Organization chairman Yasser Arafat enticed the U.S. into a dialogue in December, Israel has been on the diplomatic defensive. With Shamir scheduled to visit Washington in March, he is eager to counter with some move of his own, and he has been signaling that he will arrive with an imaginative peace plan in his hip pocket. Meantime, he has been raising expectations by doling out hints about his forthcoming initiative...
...Japanese, unlike most Westerners, are not squeamish about discussing toilet habits. Professor Hideo Nishioka, chairman of the 100-member Japan Toilet Association, a private study group, has calculated that Japanese men spend an average of 31.7 seconds in the john compared with 1 minute 33 seconds for women. As if that were not evidence enough of the country's efficiency, Professor Nishioka has another statistic that illustrates Japanese competitiveness: every day, Japan uses enough toilet paper to circle the earth tenfold...