Word: steel
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Dates: during 1960-1969
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Because the economy is so finely balanced, the Administration has been keeping an especially sharp eye out for any price hike that might signal-or set off-a trend toward inflation. Last week Bethlehem Steel Corp., the nation's second biggest steel producer (after U.S. Steel), increased by $5 a ton (to $119) the price of its steel structural shapes and piling. The price hike covered only 5% of all Bethlehem's production, was for a specialty steel that is used mostly in construction and does not appear in such consumer goods as autos and refrigerators...
Despite the limited nature of the price increase-which Bethlehem clearly expected the other steel companies to follow-the Administration reacted with quick disapproval. Gardner Ackley, chairman of the President's Council of Economic Advisers, called the move "inflationary and not in the public interest." The increase, he said "does not appear to be justified under the council's guideposts, based on the information available to the Government...
Duesenberry said that he was being briefed on his duties now, though "no definite division of labor had been determined." He said that as yet all he knew of the steel price increase and the new federal budget was "what I've read in the papers...
Antunes, 59, one of Brazil's most enlightened businessmen, already provides his country with the means to unlock much of its long-neglected wealth in natural resources, and so reduce its heavy dependence on coffee for export income. In a similar 51%-49% joint venture with Bethlehem Steel, he has not only built one of the world's most successful manganese mining operations, but has managed to avoid the attacks that Brazilian nationalists have made on other foreign interests. By pushing iron-ore exports, Antunes expects Brazil in time to earn enough abroad to import coal...
...land Center Mike Lewis, a 6-ft. 7-in. sophomore who has averaged 13.3 rebounds per game this season, Bubas reached all the way to Missoula, Mont. -on the recommendation of a Duke coed whose brother had played with Lewis in high school. Figuring that the coal and steel country of Pennsylvania ought to be a happy hunting ground for raw basketball talent as well as for football, Bubas conducted a discreet investigation-and found Forward Jack Marin (Farrell, Pa.), Forward Bob Riedy (Allentown, Pa.) and Guard Steve Vacendak (Scranton...