Word: steel
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Dates: during 1960-1969
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...economy, as Lyndon Johnson observed last week, continues to be remarkably vigorous after 52 months of expansion. Corporate earnings are rising so rapidly that even at the present 48% corporate-tax rate, federal revenues will increase some $7 billion this year. The two largest steel manufacturers, U.S. Steel and Bethlehem, reported last week that second-quarter profits were, respectively, 34% and 12% higher than in the same period last year. General Motors' second-quarter earnings were up 6%, and its first-half profits of $1,274,843,649-by far the largest for any corporation in history-surpassed...
...public actions and words in the nation's steel capital last week suggested that another labor crisis is coming-but the behind-the-scenes atmosphere did not. By a unanimous vote of its 163-member Wage Policy Committee, the United Steelworkers served notice that it would strike if a new contract is not signed by Sept. 1. Steelworkers' President I. W. (for Iorworth Wilbur) Abel called the industry's current bargaining stance "unrealistic" and "indefensible...
...industry's veteran chief negotiator, U.S. Steel Vice President R. Conrad Cooper, condemned the union's "tired old tactics." But the antagonists did not have that oldtime fervor and invective...
Avoiding Damages. By pleading no contest, the companies avoided the embarrassing and costly ordeal of a public trial, and they did not admit any guilt. More important, the plea greatly diminished the chance that injured customers could successfully sue for treble damages. Reason: not only could the steel companies deny the charges in such suits, but the customers would have to prove both the conspiracy and their own injuries without access to the Government's evidence. Clearly, for steelmen who would like to forget about the whole affair, this was the best...
...will keep on buying so long as it is a good buy." He insisted that he did not want a director's seat; that Goldenson "leaves me with quite positive feelings about ABC and its future." Television executives, however, remembered the cases of McCall Corp. and Wheeling Steel, in which Simon followed the pattern of investment-takeover-management upheaval. Goldenson seems secure in his job so long as ABC, in an industry that shifts more swiftly than sand, keeps its share of viewers. Whatever happens to Gidget, Tammy or Jesse James, ABC's new behind-the-cameras show...