Word: steel
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Dates: during 1960-1969
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...before your metallic eyes, your frosted smile So shy. And the anguish in the depths of skyscraper streets Lifting eyes hawkhooded to the sun's eclipse. Sulphurous your light and livid the towers with heads that thunderbolt the sky The skyscrapers which defy the storms with muscles of steel and stone-glazed hide. But two weeks on the bare sidewalks of Manhattan At the end of the third week the fever seizes you with the pounce of a leopard...
...York! I say to you: New York! let black blood flow into your blood That it may rub the rust from your steel joints, like an oil of life That it may give to your bridges the bend of buttocks and the suppleness of creepers. Now return the most ancient times, the unity recovered, the reconciliation of the Lion, the Bull and the Tree Thoughts linked to act, ear to heart, sign to sense. There are your rivers murmuring with scented crocodiles and mirage-eyed manatees. And no need to invent the Sirens. But it is enough to open eyes...
...training methods are often so far behind the times that, in effect, the schools teach students to be unemployable. Last year a report by the Taconic Foundation concluded that the usefulness of New York City's vocational schools is "extremely questionable." Frank Cassell, personnel director of Inland Steel Co., says that "vocational education in Illinois bears about the same relationship to the real needs of industry as the shovel and the pickax do to the equipment demands of road building...
...this idea is harder to sell to stockholders-particularly the smaller investor who tends to put his money into blue chips. Many corporate managers are still convinced that their little stockholders want and deserve those regular checks. "Shareholders are businessmen too," says President William G. Stewart of Universal-Cyclops Steel Corp., "and they're entitled to a reasonable return on investment-or there won't be any investment." Just about everyone agrees that companies should be sure that they can sustain a dividend increase-or should not declare one at all. Shareholders usually take a dim view...
...right, says Harvard Business School Economist John Lintner, "when the earnings decline is pretty surely temporary. Management will be very often serving stockholders best by maintaining dividend payments and protecting the price of the stock." But some industries have persisted too long in this rearguard action-and steel is one of them. While earnings dropped year after year and the industry lagged in modernization, steelmen kept rewarding stockholders at the same level in order to present an outward picture of stability. Result: dividends amounted to 50.1% of profits in 1957 but accounted for 79.8% of profits in 1961, when...