Word: plante
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Dates: during 1970-1979
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...Ripe Takeover of the Year. Lykes Steamship Company, based in New Orleans and one-seventh the size of Youngstown, borrowed the buy-out capital from Wall Street and elsewhere, using Youngstown's positive cash flow as collateral. Since 1969, Lykes invested next to nothing in modernizing the Youngstown plant--profits went to pay off the buy-out debt. Meanwhile, Japanese and some American plants switched to the more efficient oxygen furnaces, at I when the down cycle in steel came last year, Lykes closed the plant rather than operate at a profit less than it could get from investing elsewhere...
Alperovitz's scenario in the feasibility study removes corporate clutches altogether. With federal loan guarantees similar to New York City's and with several million dollars of federal seed money, the Youngstown workers and community could buy, re-open, and gradually modernize the plant. The government's other choice is to pay the estimated $75 million in unemployment and increased welfare benefits over the next three years in Youngstown alone. Alperovitz puts it this way: A corporation would never be satisfied with a 3 per cent return because it could make 8 or 10 per cent elsewhere. But owners from...
...this valuable and frightening information may be old hat to anti-nuke fans, but somehow the general public has lost sight of the facts, particularly in the long and losing battle against the Seabrook, N.H. plant. Meltdown at Montague proves valuable, then, simply because it is the least hysterical and most readable factual account of nuclear power today. While the book most definitely possesses an anti-nuke tone, the reader is hard-pressed to find dogma. The closing pages suggest that because nuclear power plants are here to stay, we must perfect emergency plans to minimize the damage...
...recession: averaging out quarterly swings, the 42-month-long expansion has been moderate so far, and has not produced the excesses?a too rapid pile-up of business inventories, for example?that can be corrected only by recession. Consumer buying has held up fairly well, business investment in new plant and equipment is picking up a bit, and both should be spurred by the tax reduction of $16 billion to $18 billion a year that Congress is about to enact. In 1979, though, that cut will just about offset the impact of higher Social Security taxes and the erosion...
...lanky, sandy-haired kid in baggy pants and suspenders wanders around the set. Spotting a stack of bologna sandwiches, he grabs one, tries to feed it to a nearby coleus and expresses his fond hope that the food will help the plant "grow up strong and have hairy pistils like its father." Next he picks up a small statue and, holding it like a microphone, intones, "Allo, allo, zis eez Jacques Cousteau for Union Oil." He then breaks into the Beverly Hills Blues: "Woke up the other day/ Ran out of Perrier/ I've really paid my dues...