Word: contractors
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Dates: during 1970-1979
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Finding a Buyer. Acquisitive LTV has expanded since 1957 from an obscure electrical contractor into a $3.75 billion-a-year corporation. Its takeover of Jones & Laughlin in 1968 was the largest conglomerate merger in history. After paying a very rich $85 a share -or a total $425 million for control of the company-Ling has seen his investment tumble by 59%. That Ling would now choose to get out of growth businesses and stay with a troubled company in a stagnant industry seems surprising. But LTV stands to collect some $17.5 million in dividends from J. & L. for last year...
...quotas for nonwhites under the Philadelphia Plan are low-between 4% and 9% the first year, rising to 20% by the fifth year. It has a built-in escape clause; the contractor has only to say that he has honestly tried to hire nonwhites, even if he has not succeeded. Despite these weaknesses, the Nixon Administration seems determined to put pressure on the blatantly discriminatory construction-trades unions. Last week Secretary of Labor George Shultz said the Philadelphia Plan would be extended to 18 other U.S. cities unless they came up with their own plans for ending discrimination...
...went on TV to denounce the paper and urge his constituents to read the Advertiser, "if you want the straight reporting." In June, the mayor barred a Bulletin reporter, whom he considered hostile, from his office. A month later, after a Bulletin series implied collusion between Fasi and a contractor who had won city permission to advertise on the envelopes of civic-center tickets, Fasi banned all Bulletin reporters from all administration offices...
...health; his psychiatrist, if he has one, takes notes on his inner turmoil, his secret fears. Banks, credit-card companies and the Internal Revenue Service know almost everything about his income and financial status. Once he has ever served in the military or worked for a defense contractor, the Govern ment knows a fair amount about his family and political associations. If he has moved recently, the storage companies have an inventory of his belongings. If he has ever been charged with a felony, the FBI probably has his fingerprints and often his photograph...
Archibald Cox '34, Samuel Williston Professor of Law, said that in the event the contractor could not find enough workers, "we would work in what ways we could with the community agencies...