Word: steel
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Dates: during 1960-1969
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Making the Mare Run. With his instinctive political sense, Johnson began seeking that consensus at once. His prime target was the nation's businessmen, estranged from the Kennedy Administration by the battle with Big Steel. Johnson thought Kennedy had overreacted in that case, just as he thought that F.D.R. had blundered badly in attacking big-businessmen as "economic royalists" a quarter-century earlier. Johnson catered to businessmen at White House luncheons, flattered them, assured them that they were "what makes the mare...
When he took over last month as chairman of West Virginia's Wheeling Steel, said Simon, he found the nation's twelfth largest steel producer in sorry shape. Wheeling's profits have dropped by almost 50% since last year despite a slight rise in sales, and its stock has dropped from 41 to as low as 23¼. In fact, Simon frankly told a special meeting of stockholders in Manhattan, the company may lose up to $8,000,000 next year, dividends will have to be suspended for several years, and much time and new financing...
Simon laid the blame squarely on William A. Steele, 64, the former chairman of Wheeling Steel, who resigned a few weeks before Simon took over. Steele, said Simon, was "not even a good vice president," and his salary of $140,000 a year was "preposterous." Under Steele's direction, said Simon, Wheeling had been "too steel-industry-minded"-it won the praise of the industry for its selected price increases in 1963-and had "wanted to be a good friend and good fellow instead of concentrating on doing a good...
...While Britain had 75 computers installed in 1957 v. 55 for the entire Common Market, six years later it had only 550 against the Market's 1,500. U.S. Management Consultant William W. Allen has pointed out that it takes three Britons to produce a ton of steel v. one American worker, that shipbuilding in Britain uses about 40% more men than necessary, and that it takes three to six times as long to build a house in Britain as in the U.S. Asked Allen: "Is Britain a half-time country, getting half-pay for half-work under half...
Controlled Chaos. Albright also insists that live models be present while he paints. Among them have been a Mexican-Indian fisherman, a union leader and onetime bootlegger, an 81-year-old Rosicrucian monk, and Mary Lasker Block, the wife of a vice president of Inland Steel...