Word: steeled
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Dates: during 1960-1969
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From the ceiling hangs a huge mobile by Britain's Gordon Pask that responds electronically to lights flashed on it by visitors. Wen Ying Tsai's sonically activated bed of strobe-lit steel rods sways to each clap of the viewer's hands. Taped sounds of computer-composed music fill the air, and computer-made poetry is on view. Some of it reads rather like Alice in Wonderland as rewritten by Charles Olson...
...that basis, G.M. initiated an investigation. The trouble in all three cars was traced to defective steel clips, penny-sized and costing less than 10 apiece to produce, that were part of the carburetor assemblies. Because that same sort of clip had been used in almost all of G.M.'s six-cylinder cars, the huge recall notice went...
Still, a few weak spots have appeared. Businessmen have begun cutting back their hitherto rapid inventory buildup, prompting manufacturers to predict a squeeze on their own sales in the fall. Steel output has plunged to a five-year low as users of the metal dig into the huge stockpiles accumulated as a hedge against the summer strike that never came. Most steel mills are running at only half of capacity, and steelmen expect further declines before orders pick up again. As a result, the Federal Reserve Board reported last week, the nation's total industrial production fell...
Washington can do little more than wag a finger. Earlier this year, President Johnson succeeded in rolling back Bethlehem Steel Corp.'s price boosts of almost 5% with threats of diverting Government steel orders. The Administration has no such leverage over the car industry. Instead, it must count on the keen competition among automakers themselves to do the job of keeping prices down...
Both the guest list and the itinerary symbolized Brown Brothers Harriman's intimate connections with U.S. industry and global finance. There were such business bigwigs as U.S. Steel's Roger Blough, Bethlehem's Edmund Martin, Columbia Broadcasting's William S. Paley, President Orville Beal of Prudential Insurance, and Texaco Chairman Howard Rambin Jr. Among the foreign bankers: Director Otmar Emminger of West Germany's Deutsche Bundesbank, Governor Louis Rasminsky of the Bank of Canada, Vice Chairman Marcus Wallenberg of the powerful Stockholms Enskilda Bank...