Word: steel
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Dates: during 1960-1969
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...writers and researchers, for one reason or another, come from other parts of the U.S., are alternately exhilarated or frustrated by the tension and pressures of the big city and of their jobs, and often feel penned in at their air-conditioned, glass-walled offices set high on steel shelves. Maybe that is why they read so much about far-off places, have an incurable travel itch, and pursue exotic and audacious hobbies. And maybe that is why, when our Modern Living department got intrigued by the growing hobby of sky diving, two of the best sources for the story...
Millions of peasants were herded into people's communes and hitched to plows. Peking broke up families, tried to ban money, jerry-built hundreds of "backyard" steel furnaces. The slogan was: "Communism can grow grain and make steel." Through brawn and "revolutionary romanticism" China was to turn almost overnight into an industrialized land. The Great Leap Forward was hailed as a short cut to Communism -and a slap at Moscow. Khrushchev warned that it could not be done. After a few months the experiment indeed collapsed. Gloating over the failure, Khrushchev told visiting Hubert Humphrey that...
...Love succeeded Humphrey as president, in 1945 forged together the best of Consol and the best of Pittsburgh Coal (a Mellon interest)-two companies that between them had lost $100 million in 15 years. Breaking into the black, he cut off unproductive mines, found new coal customers among steel mills and utilities to replace fading markets among dieselized railroads and oil-burning homeowners, and automated until the most efficient Consol mines now produce 70 tons per miner per day using $100,000 continuous mining machines...
...clock." Love good-naturedly responded by asking Lewis for one of his eyebrows to use as a toupee. Eventually Lewis backed down, and today the two old antagonists are friends. Hanging from the wall of Love's Pittsburgh office is an unlikely trinity of photographs: George Humphrey, U.S. Steel's late Ben Fairless and John L. Says Love: "I like to say that I made an enlightened labor leader out of John. And he likes to say that he made...
Unemployment, although still a discomfort at 5.2%, has dropped from more than 7% in 1961. Retailing, oil and chemicals appear to be heading for bumper years. Steel's future gleams so brightly that Hamilton's Steel Co. of Canada launched a $118 million expansion program last week, and Dominion Foundries & Steel has announced a $20 million expansion. The outlook for farm machinery is "excellent, first-class," says George Vincent, president of Cockshutt Farm Equipment. Automakers expect a 24% production increase this year to a record 530,000 cars. "My crystal ball reads five years of real good times...