Word: steel
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Dates: during 1960-1969
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...would not be able to rule upon it from an impartial position." Making the same point another way, U.C.L.A. Politics Professor David Farrelly wonders "how impartial the court could have been in 1952 when it had to decide on the constitutionality of the President's seizure of the steel mills, if the Justices had been poker-playing companions of Truman...
Please Go Home. Although he considered Bethlehem's response excessive, the President granted that the cost of the industry's new labor contract was "high." Ironically, one consideration facilitating settlement was the knowledge that a steel strike, with its inevitably depressing consequences for both the economy and the Viet Nam war effort, would have provoked White House intervention. Union representatives and Chief Industry Negotiator R. Conrad Cooper of U.S. Steel shrouded their meetings in unaccustomed secrecy, avoided the usual inflammatory statements. When Federal Mediator Simkin showed up to offer his assistance, he was politely told to go home...
...WHEN the steel industry reached agreement with the United Steelworkers of America last week on a new labor contract providing for annual wage-and-benefit increases of 6%, Federal Labor Mediator William B. Simkin lauded the settlement as "an outstanding achievement of bargaining." When Bethlehem Steel Corp. followed with price increases, Washington's reaction was far different. Labeling Bethlehem's price hikes "unreasonable," Lyndon Johnson said that they "should not be permitted to stand." To that end, his Administration took action to limit U.S. Government purchase of steel for defense purposes to those companies that hold the line...
...first to raise its prices was U.S. Steel Corp., which announced increases on the price of its tin-plate products. The President, summoning reporters to the White House, said he could countenance such "selective" increases. By contrast, he said, Bethlehem's across-the-board boosts of almost 5% would have "dire economic consequences." Said the President: "Inflation in steel is inflation for the nation...
Echoing the President's opinion that sweeping price increases were unwarranted, White House aides claimed that the higher cost of the steel settlement could be partially made up in higher productivity. They also noted that labor accounts directly for only 40% of the price of steel. In any event, suggested one Government economist, steel companies could help combat inflation by absorbing at least part of the cost of higher wages instead of "asking the American people...