Word: steeled
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Dates: during 1960-1969
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...weed killers were first introduced, I, like most laymen, accepted the verdict of those who claimed to know, and took for granted that it was in keeping with the age of miracle drugs. Now I feel that the actual conditions are much more grim than you in your steel-and-concrete towers know...
...impact." They are getting the message through to chief executives that they are not willing to put in the usual stint as a trainee, shuffling paper and learning company routines. "These younger, better-educated people demand a different kind of direction," says Edward J. Hanley, chairman of Allegheny Ludlum Steel Corp. "You have got to give them their head, put them in positions where they can make mistakes." Because many large companies are accustomed to stockpiling skills, the brightest young executives often move into small firms, where they can more readily assume the responsibility that they impatiently demand...
...investment. Sylvan Fry, 53, a manufacturer's agent, began investing for the first time last winter, buying oil, chemical and computer issues. On paper he has already lost $6,500 of the $11,400 that he started with. George Ratliff Jr., 39, a Pittsburgh steel-company engineer, began 1969 with a portfolio worth $16,900, has seen its value drop $2,500. He describes himself as a "fundamentalist" who invests only in securities that he thinks offer sound values. Among his losses: $1,000 in Gulf & Western convertible bonds that he bought because he considered them "a perfect hedge...
Growing Worry. Anxieties are growing among investors who are old enough to remember the 1929 crash and the Depression. A 49-year-old Akron trucking executive has lost only $1,000 on a $20,000 investment in four blue chips-U.S. Steel, Ohio Edison, Goodyear and Standard Oil (Ohio). "But I had a fear of the market from the start," he says. "So do most people who saw their families struggle through the Depression. Now I feel like digging a hole in the backyard and burying the dough...
...Japan does not liberalize its economy, the U.S. and other nations may well intensify an already strong backlash against Japanese exports. The U.S. restricts imports of Japanese steel and threatens to set quotas on textiles (TIME, July 4). Thailand recently banned imports of Japanese used cars and tires until Tokyo agrees to buy more Thai rubber and corn...