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Word: contraction (lookup in dictionary) (lookup stats)
Dates: during 1950-1959
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Union Power Play. Early in the week McDonald scored on his divide-and-conquer campaign in a friendly contract-signing session with Chairman Edgar Kaiser of California's Kaiser Steel Corp. (2% of steel capacity). Steelman Kaiser (see BUSINESS), refusing to stick with other operators through the injunction procedure, signed a 20-month union contract giving his 7,500 employees a yearly wage-and-fringe-benefit boost worth 11.25? an hour, only a quarter of a cent more than the last industry-wide offer. To the Kaiser company, the terms made special sense because of its special situation, which...

Author: /time Magazine | Title: THE ECONOMY: The Bind in Steel | 11/9/1959 | See Source »

Union Boss McDonald exploited the break by signing Kaiser-style contracts with Detroit Steel Corp. and Granite City Steel Co., small companies (less than 1% of U.S. capacity each) that have been operating throughout the strike on union-granted contract extensions. But McDonald's drive never got beyond the easy pickings of the minors, soon hit the stiffened wall of major company resistance. Top steel negotiators declared that the Kaiser contract 1) would cost non-Kaiser companies nearly half again as much, 2) provided contract reopening in 1961, which was "intolerable to all," and 3) left work rules...

Author: /time Magazine | Title: THE ECONOMY: The Bind in Steel | 11/9/1959 | See Source »

...skepticism. Behind him, putting the ideas to work, came Edgar and a group of University of California college friends, including Eugene E. Trefethen Jr., new vice chairman of several Kaiser companies, and D. A. ("Dusty") Rhoades, new president of Kaiser Aluminum & Chemical Corp. When Henry J. won a contract to build the main spillway dam at Bonneville, Ore. in the mid '30s, he turned the job over to Edgar, then 25, and Clay Bedford, a boyhood chum, who is now general manager of Kaiser Aircraft & Electronics. Swift currents and widely varying water levels made the job a tough problem...

Author: /time Magazine | Title: Business: Steel's Maverick | 11/9/1959 | See Source »

...children, borrowed enough money to become a small-time farmer, struggled to keep the family alive and intact while he grabbed spare moments to paint-first copying calendars, then endlessly sketching his sister Yoshiko. When Mabe married eight years ago, his father-in-law forced him to sign a contract to paint no more ("a foolish extravagance...

Author: /time Magazine | Title: Art: The Year of Manabu Mabe | 11/2/1959 | See Source »

...NUCLEAR REACTOR that may make atomic power competitive with conventionally generated electricity will be built by Martin Co. under an $838,163 AEC contract. Reactor system uses pea-sized pellets of atomic fuel, eliminates the need for complex control rods used in present reactors, makes it easier to recover valuable fissionable material from the reactor...

Author: /time Magazine | Title: Time Clock, Nov. 2, 1959 | 11/2/1959 | See Source »

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