Word: renewed
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Proper Credit. Blough sought to improve U.S. Steel's fortunes largely by paring its work force, consolidating its sprawling divisions and ending a costly overlap of sales offices. More recently he has loosened the purse strings in a somewhat belated effort to renew the company's plants. As part of a threeyear, $1.8 billion spending program that began in 1966, U.S. Steel has installed ten oxygen furnaces, is now phasing in one of the world's biggest continuous casting lines at Gary, Ind. It has also abandoned its lofty refusal to cut prices to meet foreign competition...
Ironically it was the Ford Foundation which caused large cutbacks in other available fellowships. Last fall the Foundation refused to renew its annual $5 million grant to the Woodrow Wilson Fellowship Fund, which was dependent on Ford for 95 per cent of its revenue...
Deputy Alianza Coordinator James Fowler warned: "The kind of saving represented by the House cuts is the type that a prosperous shopkeeper in a riot zone might achieve by failing to renew his insurance policies." Somewhat chastened, the Senate last week voted to restore $300 million of the cut foreign aid funds but the final figures must still be negotiated in a Senate-House conference...
...should have cooled off abruptly under the double effect of mid-July's income tax surcharge and a cut in federal spending. There was even concern that the restraints would move the economy toward a recession. Instead, the effect has turned out to be so slight as to renew old worries about inflation...
Mindful of the overblown optimism of earlier days in the war, General Abrams is not yet willing to say that he has the enemy on the run. He recently told Washington that he thinks the third-wave offensive began late in August and then petered out. The Communists could renew it at any moment, he said, or they could simply stretch out their timetable. They might even abandon the attack altogether. If they do, Abrams thinks that Hanoi might rapidly ask for a cease-fire and begin negotiating in earnest at the Paris talks. But he emphasizes that that...