Word: steel
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Dates: during 1980-1989
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...economists who highlight this phenomenon tend to be liberals; many of them blame the Reagan Administration for failing to help Middle Americans adapt to the postindustrial age. Millions of citizens, they contend, have lost their middle-class jobs in aging industries like autos and steel and have plunged into the minimum-wage realm of floor mopping and hamburger flipping. By failing to halt the middle-class shrinkage, the argument goes, the U.S. could allow itself to become a two-tiered society of rich and poor. Declares M.I.T. Economics Professor Lester Thurow: "Wherever one looks, one now finds rising inequality...
...fluty presence, the references to his sainted mother Frances, all made him a conversation piece, a figure of fun -- the Gorgeous George of mid-cult music. As Michael Herr observes in his new book The Big Room, "Never before, at least knowingly, had a man ever had the big steel balls to show himself like that, and on television." The slurs must have hurt Liberace, but his blithe heroism became a '50s catchphrase: "I cried all the way to the bank...
...corporate-identity consultants who create names for new companies and products. Anspach Grossman Portugal, a New York City consulting firm, oversaw Libbey-Owens-Ford's metamorphosis into Trinova, and suggested Consolidated Foods adopt the tastier name of Sara Lee Corp. Siegel & Gale, another New York company, persuaded United States Steel to transform itself into USX. San Francisco-based NameLab christened Nissan's Sentra car and Honda's luxury Acura model...
Hiring a consultant, though, is no guarantee that a new company name will be either unique or appropriate. Siegel & Gale gave U.S. Steel a list of possible new names for the steel conglomerate, including USX, Maxus and Amcor. USX was chosen before the manufacturer discovered that the name had already been adopted by USX Telecenters, a California-based distributor of telephone systems, which subsequently filed a $50 million trademark-infringement lawsuit against the steel company. After Houston Natural Gas merged with InterNorth in July 1985, Lippincott & Margulies, a New York City-based firm, came up with the name Enteron...
...industrial struggles, even over supremacy in autos or steel, have ever been more important to the U.S. economy. "The semiconductor is at the heart of modern industrial processes," says Bruce Smart, the Commerce Department's Under Secretary for International Trade. A flood of low-priced chips from Japan has squeezed the profits of U.S. chipmakers so severely that many of them could fail, thus leaving the country dependent on foreign supplies for a strategic resource. Says Smart: "If we were to be forced out of business and had to buy our semiconductors from foreigners, they would in effect control...