Word: shutdowns
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Dates: during 1950-1959
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...steel for their living. Thousands more, from the busmen who drive steelworkers to their jobs to the doctors who treat their illnesses, are indirectly dependent on the now-silent mills. When the mills are strikebound, Youngstown feels a tightening pinch. But this time, after 2½ months of shutdown, Youngstown is enduring its pinch with remarkable serenity, surprisingly little hardship...
...management and labor toward settling the steel strike called for some knuckle rapping. Last week, in a stern letter to the heads of the twelve major steel companies and the steelworkers' union, the President said that they "must find" a quick way to settle the nine-week-old shutdown. He was plainly irritated by the fact that both sides were merely going through the motions of negotiating. Demanded the President: "Halfhearted bargaining is not enough. Intensive, uninterrupted, good-faith bargaining with a will to make a responsible settlement is required...
...PUBLIC. No previous postwar steel shutdown has been met with such public apathy. But there are warnings that may soon jolt that apathy. Said Chief Economist Beryl W. Sprinkel of Chicago's Harris Trust & Savings Bank: "By Oct. 1, the strike will be a significant depressant on business. If both sides do not reach an accord by then, the Government will have to step in." Last week the Administration repeated that it had no intention of stepping in. The strongest public pressure for a settlement came from 100 steelworkers' wives who, with a bow to the women...
...modernize and grow, compete against foreign firms and other materials at home. But the industry's argument did not stem the union's expected attack. Cried Steelworkers Boss David J. McDonald: "The astronomical profit figures completely demolish the excuse the companies have used to force this shutdown. How can they possibly justify a heartless denial of needed benefits to their workers, who have produced this mammoth pile of profits...
...that produce the bulk of its steel, the broad-based U.S. economy was so sound in its nonsteel elements that it suffered few serious effects. In Washington high Administration economists predicted that the walkout would not imperil the economic boom-unless it lasts a painfully long time. But the shutdown immediately began to produce a stock of troubles...