Word: rollback
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...fourth largest producer (1962 sales: $790 million), a suave product of Choate and Yale ('20) who served as a top executive in eight other steel companies before taking over as boss of Jones & Laughlin, where he bitterly contested fellow Choate Man John F. Kennedy's 1962 rollback of steel prices, declaring himself an original member of "the S.O.B. Club"; of a heart attack; in Pittsburgh...
...resourceful President might be used increasingly to impose informal, but nonetheless direct, controls on the legitimate action of business and, possibly, labor." At a meeting of the American Iron and Steel Institute in Manhattan, steelmen were critical, sometimes bitter, about the President's role in the steel-price rollback. As for labor's guidelines, the A.F.L.-C.I.O. was having none: President George Meany announced last week that the A.F.L.-C.I.O. will open a national drive to win a 35-hour week in defiance of President Kennedy's wishes...
...meet it on the question of Laos-even though that was his most precarious battleground. In meeting that test, the President avoided any tone of belligerence, offered to settle for minimal terms. He called for a neutral rather than a pro-Western Laos, a cease-fire rather than a rollback of the Pathet Lao; he was even willing to let Communist China take part in the conference that would work out a settlement...
EUROPEAN UNION AND UNITED STATES FOREIGN POLICY, by F.S.C. Northrop (Macmillan; $4.75) blames most of the U.S.'s foreign difficulties on the present administration. Professor Northrop contends that pre-election and post-election statements by Dwight Eisenhower and John Foster Dulles about "rollback" and "liberation" frightened Europeans into increasing neutralism and anti-Americanism, thereby damaging the cause of European union. What Northrop wants to roll back is U.S. foreign policy-back to the way it was handled under Truman. He would have the U.S. make no major decision and announce no policy in foreign affairs without first consulting...
...textile workers walked out on strike, shutting down 40 major factories. Their demand: 60% more pay. Following them went some 35,000 metal workers, carpenters and cabinetmakers, demanding a flat $40 monthly increase. Communist agitators turned some of the strike meetings into demonstrations for an immediate 46% rollback of the price of rice and beans. As factory streets filled with pickets, rumors spread that a big quebra-quebra (literally, "break-break"), all-night looting outbreak, was in the offing. With the danger that the unrest might boil up into a full-scale general strike, President Vargas summoned Mayor-elect...