Word: steel
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Dates: during 1980-1989
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...save $100 million to $300 million by converting the MOL site rather than building from scratch. In fact, the most imposing structure at Slick Six, the 285-ft.-high Mobile Service Tower, is a refitted and slightly shortened version of a MOL facility. The Air Force also cannibalized the steel used in that structure, constructing an access tower for astronauts entering the shuttle...
That expensive steel-and-sheet-metal postscript, the assembly building, shelters the newly assembled spacecraft until it is ready for loading. The job begins in a hulking concrete structure called the Payload Preparation Center, a stationary, 147-ft-high building. There, in a relatively particle-free chamber, the spy satellites and other exotic space gear to be carried aloft will be given final checks in sealed chambers. Explains Engineer O'Gorman: "If we do the job right you should be able to take a transistor radio in there and not pick up a single outside signal." This feature...
McGrath's position cast doubt over an even bigger steel merger. Three weeks ago, U.S. Steel announced the takeover of National Steel, which would have combined the largest and seventh-largest companies. Steel officials in recent months have been predicting that the business was about to undergo a series of such mergers, which would reduce the number of major steel producers from eight to as few as three. Executives contend that by combining resources, fewer rank-and-file steelworkers and middle managers would be needed, excess capacity would be reduced, and spending for raw materials to produce steel would...
...Justice Department, however, questioned whether the LTV and Republic merger would bring about that much increased efficiency. It also said that the threat of foreign competition in the kinds of steel most affected by the merger was not great enough to overcome the risks of domestic collusion to increase steel prices...
...protection from imports that steelmakers have won greatly weakened their position with the Justice Department. Even former Antitrust Chief Baxter, now a law professor at Stanford, agreed. Said he last week: "The steel companies can't have it both ways. They can't have protectionism on the U.S. market and then expect to be judged on merger questions as if they operated in a free world market...