Word: steel
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Dates: during 1960-1969
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Before it ended, an explosion thundered through the auditorium. A 30-ft. wall of flame shot over a section of box seats and rinkside folding chairs. In an instant, the rink was littered with enormous chunks of concrete, shredded programs, crumpled popcorn boxes, splintered seats, twisted steel-and dozens of limp or painfully writhing bodies that lay in puddles of blood spreading over the ice. It took a moment for the horror to register. Then the gay chorus line broke in a scramble of skate blades and screams. A woman in the audience shrieked to her companion...
...collide with anything bigger than a microscopic bit of cosmic dust. There were 44 meteoroids that succeeded in penetrating a sheet of beryllium-copper one-thousandth of an inch thick, which is slightly thicker than household aluminum foil. The most powerful meteoroid encountered knocked a tiny hole in stainless steel three-thousandths of an inch thick. Metal as thick as the wall of a beer can went unpunctured. NASA's tentative conclusion is that the plentiful meteoroids are too small to do harm, and the dangerous ones...
Rising demand, of course, does much to account for steel's snapback, but newly efficient plants help to produce the profits. Over the past decade, the industry has averaged more than $1 billion a year to expand, modernize and automate; it plans to invest $1.2 billion this year and $1.5 billion next. Last week National Steel opened a $100 million hot-strip mill near Detroit, and in Kentucky, Armco Steel brought in two new oxygen-process steel furnaces and started pouring iron from the largest blast furnace in the Western world (daily capacity: 3,340 tons). The payoff from...
Price Fight. Though steelmen do not like to talk about it, price rises have also helped fatten their profits. Two rounds of increases, in April and September, have raised overall steel prices by about 2%. Prices are still below what they would have been had the Government permitted U.S. Steel to hold to its 31% rises 18 months ago. Still hurting over that celebrated crisis, steelmen were unsettled last week by word that the Justice Department has subpoenaed the records of major steel companies for a New York grand jury investigation into price fixing. "We're puzzled, irked, hurt...
Actually .the Justice Departments concern goes back much farther. A grand jury impaneled last year turned up evidence enough to prompt an investigation of steel-price rises dating to 1956. Justice is trying to connect these price increases not to formal meetings and written agreements among policy-making steelmen, but to informal contacts on the golf links or at trade meetings. Presumably, however, Bobby Kennedy's men also hope to dissuade other industries from raising prices and kicking off an inflationary spiral during an election year, and to persuade labor unions that the Kennedy Administration is not "soft...