Word: steel
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Dates: during 1960-1969
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...British Iron and Steel Board now estimates that output per unit of labor in British steel in "probably only 50% of the U.S. level." In the port of London, there are 444 different employers of dockworkers--each one is too small to use large scale machinery, each one refuses to merge with the others. The British refer to their salesmen as "spivs," "bagmen", or "touts" and their salesmanship often reflects this disdain. Auto companies tell of suppliers who refuse business because added orders might "upset stability" of production. And the Economist describes a visit to a British plant in which...
...disappointment also awaited brilliant but unreliable Iain Macleod, still a hero of the Tory youth organizations and leader of a dedicated group of backbenchers in the Commons. Home decided to leave Macleod in the secondary role as chief Tory strategist against Labor's proposed nationalization of the steel industry. Since the Laborites are not expected to press for nationalization soon-with their three-vote margin they can scarcely expect to carry the measure-Macleod is not likely for some time to have a chance for combat or glory...
Bankers' best guesses about the Vatican's wealth put it at $10 billion to $15 billion. Of this wealth, Italian stockholdings alone run to $1.6 billion, 15% of the value of listed shares on the Italian market. The Vatican has big investments in banking, insurance, chemicals, steel, construction, real estate. Dividends help pay for Vatican expenses and charities such as assisting 1,500,000 children and providing some measure of food and clothing to 7,000,000 needy Italians. Unlike ordinary stockholders, the Vatican pays no taxes on this income, which led the leftist Rome weekly...
Caravans of Cadillacs glided up to the East Wing of the White House last week and disgorged the biggest businessmen in the U.S. While many of the nation's board rooms stood deserted, the tycoons assembled to see the most important chief executive officer of them all. U.S. Steel's Roger Blough and General Motors' Frederic Donner were there; so were Du Font's Lammot Copeland, IBM's Thomas Watson, General Electric's Fred Borch-and 330 other chiefs of banks and corporations. Lyndon Johnson had invited them to a 90-minute session behind...
...Senator Eugene McCarthy has even urged the use of excise taxes on gasoline to subsidize the scrapping of cars. The trouble is twofold: 1) as population and incomes increase, more cars are made, and they have ever shorter lives; 2) the price of scrap metal has dropped as the steel industry has converted from open-hearth furnaces, which use up to 45% scrap metal, to oxygen furnaces, which use only 27% scrap. The price an auto wrecker gets for his scrap has fallen to around $10 a car, with the result that many wreckers have allowed car carcasses to pile...