Word: laughlin
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...crashes, less than 100 miles apart in Texas and New Mexico, last week put the spotlight on a military plane that the Pentagon tries not to talk about. The plane: the Lockheed U2. Its mission: high-altitude reconnaissance. The U-2s, flying out of Laughlin A.F.B. near Del Rio, Texas on separate missions, crashed within a 24-hour period, killing their pilots. Air police rushed in, set up roadblocks to screen both crash sites from view. The Air Force ruled out sabotage, tersely ordered the grounding of some 25 sister ships, and clammed...
...nation's biggest steelmakers seemed in no rush to hike prices. U.S. Steel said only that it was "studying" Alan Wood's move: so were Bethlehem Steel, Youngstown Sheet & Tube, Armco Steel and Jones & Laughlin, which added that it would not raise prices until U.S. Steel took the lead. Said Big Steel's Chairman Roger M. Blough: "Our immediate conclusion is not to attempt to change our prices until the situation is clarified." When that might be, added Blough: "We cannot forecast." But for years, steel prices have climbed, along with boosts in minimum wages (see chart...
...sake than for profit. Adams began searching for ways to put their talents to work making money, later cut out such money-losing items as TV sets, decided that Raytheon's future lay in increasing Government work. He brought in Harold Geneen, former vice president of Jones & Laughlin Steel Corp., as executive vice president in 1956, told him: "Make some money...
President A. B. Homer, as "some indication of our confidence in the future." Jones & Laughlin Steel continued its 62½? dividend, though its first-quarter earnings plummeted to 17?, v. $1.89 last year...
...immediate delivery, a sure sign that "inventory reductions are nearing the point where we should feel the impact of an upturn by not later than midyear." As for steel, which so far has borne much of the brunt of the recession. President Avery C. Adams, of Jones & Laughlin Steel Corp., No. 4 in the industry, announced that J. & L.'s orders climbed slightly during the first twelve days of March, though nothing to get excited about yet. Nevertheless, Adams expected to make good his boast of turning a profit at 50% of capacity. Said he: "We were...