Word: laughlin
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Then the steelmen nimbly turned the investigating committee into a sounding-board to broadcast their case. Bethlehem Steel's Eugene Grace deplored-but denied any responsibility for-the existence of a racketeering "grey market" in steel. Present extraordinary demands for steel could have been met, said Jones & Laughlin's Chairman Ben Moreell, if strikes had not caused a postwar loss of 18 million tons of production...
...What about expansion? Ben Moreell reported that the industry was currently engaged in a $1 billion program which would increase capacity by 2,500.000 tons by the end of 1948. Same day, Jones & Laughlin announced a large mine-development program "in order to produce more and better steel"; Columbia Steel, a Big Steel subsidiary, announced plans for a 300,000-ton-a-year sheet-steel mill near Los Angeles...
...first to act; it boosted its prices as much as $7 a ton. Next day Republic Steel Corp., third largest U.S. producer, boosted its prices $5 to $8. The same day, National Steel Corp. raised prices an average of $5.25 a ton. The following day, Jones & Laughlin Steel Corp. joined the move with raises of $6 to $7 a ton. The raises, on the whole, were much larger than anyone had expected...
Many a retiring general and admiral had landed a snug industrial job: the Seabees' Admiral Ben Moreell, onetime Coal Administrator, as chairman of the board of Jones & Laughlin Steel Corp.; the Army Service Forces' General Brehon Somervell as president of Koppers Co., Inc. of Pittsburgh, at a $75,000 salary; wartime ordnance chief Lieut. General Levin H. Campbell Jr. as an International Harvester Co. vice president; Lieut. General Jimmy Doolittle as vice president of Shell Union Oil Corp...
Last week NLRB boldly threw the door wide open as it ordered an election to determine whether supervisory employes of Jones & Laughlin's Vesta-Shannopin Coal Division should be represented by the United Mine Workers...