Word: coaling
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Dates: during 1960-1969
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Bigness Has Its Price. Thomas Jones Woodward, son of a coal miner, had an inauspicious start in his home town of Pontypridd, Wales. Trying to stay out of the mines as a youth, he chose instead to crowbar his way into movies, drink with the boys and fight in the streets. That was a far cry from his younger days when his mother would take him to the women's guild or the grocery store to warble popular songs like Ghost Riders in the Sky. Tom had to answer for every song to the fellows in the back alley...
...National Coal Board, for example, has been so slow to close inefficient pits that it requires immense government subsidies; it lost $24 million in fiscal 1969. The railroads have run a deficit of around $365 million in each of the last two years. The utility industry was pushed into an excessive expansion program and has had to raise electricity prices. Now the pressures of hard politics threaten to make a similar financial mess out of British Steel Corp. (BSC), the company that the government was counting on to prove that nationalization could really work...
...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 oil are taxed extravagantly; as a result, steel's fuel bills are excessively high. To pay them, and the costs of modernization, Melchett proposed steel price increases totaling $128 million a year...
...Reichenau, Switzerland, are choked with wastes by the time they pour into the North Sea, 820 miles away. At Basel, the Rhine picks up city sewage; the chemical industries near Mannheim dump acids, oils, phenols, ammonia, dyes, chlorine, sulphate, iron, copper, bleach, cadmium and formaldehyde into its waters; the coal mines near the confluence of the Ruhr disgorge calcium deposits and sludge; the steel mills of Cologne contribute iron dross, furnace slag, oils and fats. As a result, the Rhine has come to be known as "Europe's longest sewer...
...business during the years after my graduation until 1930," Hofer recalls. "I graduated in 1921 and I worked for ten years and I hated it. I wanted always to get out as soon as I could ... I was in a horrible thing called the coal business, and I also got into the security business. I never made anything our of the coal business, but I speculated and made a little out of the securities, and I got out. I wanted a way of life, a way of life rather than just to make money...