Word: steel
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Dates: during 1960-1969
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...Business. The issues that divide the campaigners are remarkably few. Though Labor proposes the extension of nationalization in the steel industry and a state takeover of urban building land, road transport and water supplies, the substance of both major party manifestos agrees on the bread-and-butter issues that decide British elections. Both are for modernization, a 4% growth rate, 400,000 new housing starts a year, new antimonopoly legislation, and an overhaul of taxation and social security systems. The difference is one of philosophy and emphasis, with Labor predictably arguing for a stronger state hand in things, the Tories...
Chrysler and General Motors set historic highs during the week, and Ford came within an inch of its alltime peak. Many companies that sell to the automakers-in steel, copper, rubber, glass -also jumped smartly. Another fast riser was Du Pont (up 17 points, to 276), which still holds 23 million shares of G.M. stock...
...Dynamics Corp. in Groton, Conn. Christened the Aluminaut and looking for all the world like a fatheaded sperm whale, the craft is the world's first aluminum submarine. Its 51 -ft. hull consists of eleven forged cylinders. Since aluminum's strength-to-weight ratio exceeds that of steel, the Aluminaut's 6½-in.-thick shell will withstand pressures of 7,500 lbs. per sq. in. at the sub's 17,000-ft. maximum diving range. At the same time, the craft is buoyant enough to surface, submerge and operate easily under its own power...
Ingalls is building five more such ships, and New Orleans' Avondale Shipyards is working on twelve highly automated freighters for the Lykes Bros, line, the first of which was christened last week. An automated tanker, the Texaco Rhode Island, has just completed sea trials off Bethlehem Steel's Sparrows Point yards in Maryland. Several other companies are also building pushbutton vessels. This full turn to automation represents a brave effort by the $2 billion private U.S. shipbuilding industry to regain the seagoing supremacy that it has lost to foreign competitors...
...their scientific talent and sharp cost accounting can bail out the industry. Ingalls Shipbuilding got a technological fillip when it was acquired three years ago by Tex Thornton's Litton Industries. Aerojet-General recently bought Jacksonville's Gibbs Shipyards, and General Dynamics last January picked up Bethlehem Steel's huge yard at Quincy, Mass. Lockheed's highly efficient subsidiary in Seattle, Puget Sound Bridge & Dry Dock, has raised its payroll from 600 to 4,000 since 1960, expects that its sales will rise 75% this year, to $76 million...