Word: kaiser
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Dates: during 1950-1959
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...Kaiser got no substantial changes in work rules, but with an efficient new plant he is happily spared the worst abuses of the work-rule tradition anyway...
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...
Despite settlements by Kaiser Steel Corp. and two other small steelmakers, the steel strike is biting deep into the U.S. economy. Steelworkers have lost $1.1 billion in wages; steel companies, $3.3 billion in sales; the Government, $710 million in taxes; the nation, 30.9 million tons of steel production. The Commerce Department estimated that the rate of the gross national product dropped $3.5 billion in the third quarter. An index of the eight key economic barometers fell farther in the first three months of the strike than during the first three months of the 1957 recession. The U.S. faced widespread shutdowns...
...best one-word description of Henry J. Kaiser, 77, and his son Edgar Fosburgh Kaiser, 51, is the title of the TV program sponsored by their $1.8 billion industrial empire: Maverick. Before he moved upstairs to let his son take over, bulldozing Henry J. built a worldwide network of diversified companies with an independence and daring that alternately drew gasps, laughter, and profanity from U.S. industry. Last week Son Edgar once more proved that the Kaisers are mavericks: he settled with the striking United Steelworkers on behalf of his Kaiser Steel Corp., thus breaking the industry's solid ranks...
When he joined the industry's bargaining team for the first time this year, energetic, voluble Edgar Kaiser insisted that he be free to talk with union leaders on his own. While other steel heads refused to meet personally with the union, Kaiser bargained diligently. He called his settlement "noninflationary." To Edgar Kaiser the time seemed at hand to stop talking and get back to work. Says he: "We do not believe it's right to put people back to work under a court injunction. When you force things upon human beings, you simply make more trouble...