Word: forli
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Dates: during 1970-1979
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It was the fear of strikes every three years when the union contract came up for renewal that led steel customers to buy still more imports to hedge their supplies. But when steel imports rose from a 13.4% share of the domestic market in 1975 to 17.7% in 1977, the...
The deal seemed all set when Treasury Secretary G. William Miller declared early in November that the Administration was, after all, prepared to back a $1.5 billion rescue fund for Chrysler. But now the outlook is a lot less sure. Opposition to Government aid is gaining ground, not only in...
Last week the Senate Banking Committee upset the carefully stacked apple cart when it voted 10 to 5 not to approve the Administration's bill. That would have given $1.5 billion of federal loan guarantees, if the company managed to raise a similar amount of nonguaranteed loans. Both liberal...
So the committee instead wrote and approved a much tougher bill. It offers Chrysler federal guarantees of $1.25 billion and demands, as a firm precondition, major concessions from all who stand to benefit from the company. It also seeks the creation of an employee stock ownership plan, which some Senators...
What is deceiving is that this recession may be coming out in spots like a case of measles. The auto industry has been the first big one to feel it; sales are off 10% for the year and more than 16% for the last ten-day selling period. Housing is...