Word: steeled
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
Splurge. The agreement came in "letters of intent" from the Japan Iron & Steel Exporters' Association and the six-nation European Coal and Steel Community. In addition, Secretary of State Dean Rusk said that other leading steel producers, presumably Britain and Canada, are expected to hold down their exports. As a result, Rusk added, U.S. steel imports-which soared to 17.5 million tons in 1968-will be limited to 14 million tons this year, 14.7 million in 1970 and 15.4 million...
Senator Russell Long and Congressman Wilbur Mills, chairmen of congressional committees that have conducted hearings into proposed steel-import quotas, jointly applauded the agreement as "a welcome and realistic step." Steelmakers were not quite so exultant. Industry spokesmen pointed out that the levels agreed upon would still amount to more than 13% of the U.S. market-greater than any year prior to 1968. Some steelmen also feared that the Japanese and Europeans would compensate for the hold-down by shipping higher-priced lines of steel...
...American steel companies, beset by rapidly rising costs for labor, have steadily lost ground to lower-priced foreign steel. The trend was accelerated last year, when the threat of a strike prompted consumers to hedge by ordering foreign steel. The splurge was all the more alarming to domestic producers because the Europeans and Japanese made especially strong gains in the flat-rolled products that are used in such key industries as autos and appliances...
...benefiting from the strength of the economy in general and of auto sales in particular, will show total profits for 1968 of about $900 million, up from $843 million the year before. Nonetheless, profits as a percentage of sales dropped off. Imports squeezed profits by putting downward pressure on steel prices. To hold on to its markets, for example, even U.S. Steel Corp. resorted to some unaccustomed price discounting. If, as appears likely, the Japanese and European cutbacks produce firmer prices, domestic steelmakers will have to admit that the voluntary agreements were better than nothing-although they are likely...
...blocks of stock in insurance firms, steel corporations, a leading tourist organization, the Lancia automobile company and several construction firms. As the largest shareholder in Generale Immobiliare, Italy's largest construction firm, the Vatican helped finance the Rome Hilton and the huge Watergate apartment complex in Washington...