Word: kennecott
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Dates: during 1950-1959
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Mining. Phelps Dodge, No. 2 domestic copper producer (after Kennecott), came put 11% ahead of its 1952 marks, both in sales and in earnings of $39 million. Freeport Sulphur piled up the highest sales, $38 million, and profits, $8.5 million, in its history...
...reux Ruest, 54, was the man who manufactured the time bomb that exploded and killed 23 people (including President E. T. Stannard of Kennecott Copper Corp. and two other Americans) on a Quebec Airways plane in September 1949. A watchmaker, Ruest made the bomb with a stick of dynamite and the mechanism of an alarm clock for his friend Albert Guay, in return for a $10 ring. Guay wanted to kill his wife, who was on the plane, not only because he had a mistress whom he preferred, but also to collect a $10,000 insurance policy...
...Canadian nickel companies, already producing more than 90% of the free world's nickel, pushed ahead with expansion plans involving more than $160 million. Canada also moved to dominate world production of titanium. After putting up $40 million, Quebec Iron and Titanium Corp. (owned by Kennecott Copper and New Jersey Zinc) began mining the world's largest deposits of titanium ore in Quebec...
...Kennecott and Phelps Dodge...
...nationwide copper strike, President Truman reluctantly trundled out a Taft-Hartley injunction for the first time since Korea, sent 53,700 members of the left-wing International Union of Mine, Mill & Smelter Workers back to their jobs. Already back at work were 8,300 employees of the huge Kennecott Copper Corp., which had made a separate peace with the union five days before. Kennecott's terms: a raise averaging 15? an hour (just a fraction of a cent more than its last offer before the strike began), and an additional 4½? an hour in pensions. When the union...