Word: last
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Dates: during 1950-1959
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Despite President Eisenhower's call for a swift steel peace (see NATIONAL AFFAIRS), management and labor could agree last week only to continue disagreeing. Just before both sides met with federal mediators for the first time since a Taft-Hartley injunction sent the workers back to the plants, the steel industry announced that its earlier offer of 30?-an-hour package spread over three years was its "last offer for a strike settlement." This so incensed Steelworkers President David McDonald that he walked into the meeting heatedly waving a copy of the statement. He repeated union arguments that...
Watch the Boss. Much of the bickering was over a campaign by both sides to win the Steelworkers' secret vote on industry's last offer, required by the Taft-Hartley Act some time between Jan. 6 and Jan. 21. Out from the eleven negotiating steel companies went letters and brochures to each employee setting forth the industry's "final" offer (it can still make another), which was actually made fortnight ago (TIME, Nov. 30). Dave McDonald called it "a propaganda offer aimed at confusing the Steelworkers," and the union's official paper, Steel Labor, warned workers...
...great Philips company electric works at Eindhoven. But hours before their arrival, 25 top Philips scientists and executives slipped away via British destroyers, carrying with them vital secrets that contributed to radar and other wartime developments. Left behind, loyal Philipsmen cheerfully sabotaged what production the R.A.F. did not pulverize. Last week Philips President Frans Otten gave the latest progress report on Philips' amazing comeback. In the first nine months this year, sales of Philips' worldwide empire reached $735,110,000, compared with $636,530,000 in the same period last year, while profits hit an alltime peak...
...rising volume and constricting profit margins, Philips is the envy of its competitors. Although 1959 sales are 15% over 1958, the profit margin actually is widening (e.g., 7.6% so far in 1959 v. 6.8% last year). Even last year, Philips' return on sales was higher than General Electric's, which was 6.1%. Looking ahead, the stockholders, whose investment has appreciated six times in ten years, firmly believe, with President Otten, that "growth is in our blood...
...Russian economy growing faster than the U.S.'s? Budget Director Maurice Stans last week decried the "cult of growth," which would spur federal spending, unbalance the budget, and touch off another burst of inflation. But International Business Machines' Thomas J. Watson Jr. called for new federal taxation, if necessary, to combat Russian expansion (see State of Business...