Word: steeled
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Dates: during 1960-1969
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Venerable and Vulnerable. Heineman, 55, is the self-assured attorney who took over the wheezing Chicago and North Western Railway in 1956 and surprised skeptical industry veterans by turning the company into a moneymaker. Only four years ago, he began spreading into steel, clothing and chemicals, and later formed Northwest Industries, a holding company. Its sales rose impressively from $260 million in 1965 to $701 million...
...been doubly effective because U.S. securities laws commit Northwest executives to frustrating silence until their tender offer expires in June. Heineman has been able to speak out only to the extent of blaming his firm's first-quarter loss largely on a strike at its Lone Star Steel Co. and the severe weather, which hampered its rail operations. He has also talked in general terms about struggles for corporate control. "There are a lot of frightened, stodgy companies with frightened, stodgy managements," he says. "Conservative businessmen are running to the Government saying, 'Save me, save...
General Motors again led the list, followed in the top ten by Standard Oil (N.J.), Ford, General Electric, Chrysler, IBM, Mobil Oil, Texaco, Gulf Oil and U.S. Steel. Collectively, the top ten increased earnings by 21%, or double the rate of the other 490 companies...
...position that mergers of companies in unrelated businesses were not subject to existing antitrust law, "let the merger movement get clear out of hand." In rapid succession, he has announced actions against three big conglomerates. His trustbusters are contesting Ling-Temco-Vought's takeover of Jones & Laughlin Steel; ITT's acquisition of Canteen Corp. and Northwest Industries' attempt to buy up B. F. Goodrich. Such mergers, McLaren says, are forcing "a radical restructuring" of the economy. The restructuring that he is talking about is not based on valid economic grounds, he contends, but rather on financial considerations...
...mind that you can turn out houses off a factory line like you turn out cars." But factory production of houses and room-sized components is an increasingly successful way to offset rising costs-in areas where unions and local laws allow such industrial methods to be used. U.S. Steel, Boise Cascade, National Homes, Guerdon Industries, Crane Co., Borg-Warner and many other firms have entered the field with ready-to-use rooms, baths or entire house sections...