Word: steel
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...William Verity Jr., President, Armco Steel Corp...
When both the nation's biggest automaker and its biggest steelmaker report substantially lower earnings, headline readers would normally conclude that the economy is in a bad way. But 1966 is anything but normal, and last week's news of lower profits in autos and steel failed to upset the relative optimism among chart watchers in Detroit, Pittsburgh and Washington-not to mention Wall Street...
Steelmen faced much the same paradox as automen: pinched profits amid strong sales. Among the six major steelmakers reporting for the third quarter last week, higher earnings were registered by two-Bethlehem and Jones & Laughlin-and lower earnings by four -National, Armco, Inland and, most significantly, U.S. Steel. That giant's profits were off 14%, to $62 million, but its directors raised the quarterly dividend from 500 to 600, and they would not have done so unless they felt that the company could comfortably stick with the higher dividend. Industry analysts expect that steel production this year will reach...
...Steel's surprising dividend cheered Wall Street's professionals. So did a New York Times survey showing that the profits of 485 major companies rose by an average 6.7% in the first nine months; without General Motors, the average gain would have been 12.5%. Also bullish: reports from Washington and from the American Bankers' Association convention in San Francisco last week that the worst of the credit squeeze appears to be over; forecasts by the Commerce Department that in 1967 capital spending will increase by a healthy 8% and the gross national product will expand...
...past several months, women have gone to work producing steel and rebuilding auto parts in Chicago, loading post-office vans and delivering the mail in Atlanta, welding and operating metal-stamping machines in Fort Worth, driving cabs in Seattle, running power cranes in Los Angeles, and pumping gas at service stations along the Illinois Toll Road. Elsewhere, women have been engaged as draftsmen, meatcutters, warehouse laborers, helicopter pilots and company guards...