Word: mahoney
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...Joint Committee on the Economic Report, headed by Wyoming's Democratic Senator Joseph C. O'Mahoney, was ready with its findings on the latest rise in the price of steel (TIME, Dec. 26), made by the steel companies primarily to compensate for their employees' strike-won pensions. Reportedly, the findings included a blast at the "unwarranted" and "untimely" price rise, and recommendations that Congress i) require the steel companies to give 30 days advance notice of price boosts, 2) hold public hearings to determine whether the increases are justified, and 3) make a study to find ways...
...Frank Mahoney, Brown varsity captain, was ruled ineligible for playing without permission, in the same contest. Yesterday, however, Mahoney was reinstated after an "examination of the facts" by the eligibility committee of the Eastern College Athletic Conference, of which Brown is a member. This further confuses Lionette's status...
That was enough to start Wyoming's Democratic Senator Joseph C. O'Mahoney off in full cry. He charged that in 1948 U.S. Steel had earned 10.2% on its total investment after taxes. Would Fairless challenge that figure? Fairless certainly would-but neither he nor Enders M. Voorhees, chairman of U.S. Steel's finance committee, could, or would, say why their figures were lower.* And what, asked O'Mahoney, did Fairless consider "a fair return"? Hedged Big Steel's Fairless: "Well, that is a variable . . . The profits are not something you can push a button...
...Probable reason: O'Mahoney's earnings figures included the huge sums laid away by Big Steel each year for accelerated depreciation, which the company does not list as profits though it pays taxes on them...
...Mahoney, a three-sport star, reportedly played for the Mercer Club of Everett...