Word: laughlin
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...Ling's largest problem was his pur chase of Jones & Laughlin Steel Corp...
...wanted to join an exclusive club at almost any price, now says that "we wanted to show them it wasn't a raid or anything like that." The takeover financially extended LTV; then the company was hit with a federal antitrust suit, which locked Ling out of Jones & Laughlin's management. So far, LTV shows a paper loss of $125 million on its holdings...
...type of sewage plants that the Administration plans to construct is the type that fouls up the water with phosphates and nitrates. Meanwhile, the Administration, instead of fighting industrial polluters, gives them six months to prepare "plans" to lower pollution flow, even when one of the polluters, Jones and Laughlin Steel in Cleveland, continues to discharge cyanide, of all things, into the Cuyahoga River (which caught fire last spring). Yet the government refuses to raise the cost of polluting our rivers and streams...
Since Marriott took over operations in September. Harkness has been losing $20,000 a month. David L. Laughlin, cafeteria manager for Marriott, said that
...told a Senate hearing last week that a new law to curb conglomerate mergers was no longer urgently needed because the number of such tie-ups declined in 1969. He claimed that the department's "strong stand" against conglomerate mergers had helped to reduce them. The LTV-Jones & Laughlin case was one of five antitrust actions filed last year in a drive against conglomerates. None of the cases has yet been tried in federal court. The Justice Department is likely to continue attacking big acquisitions, but the move toward giving executives a choice of which companies to sell seems...