Word: steeles
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...taking a more casual approach, wearing clothes and jewelry they had made with their own hands. Julia K. Clarke ’05 arrived in a home-made Zoolander “Derelicte” tank-top, inspiring the others to shout such encouragements as “Blue Steel!” and “So hot right now!” as their fellow would-be models went in to audition. For a brief moment, these Harvard students weren’t worrying about midterms and papers. Instead, they were having fun with fashion—exactly...
...keeping it. Result: a wholesale downsizing of the American Dream. It began in the 1980s with the elimination of middle-class, entry-level jobs in lower-paying industries--apparel, textiles and shoes, among others. More recently it spread to jobs that pay solid middle-class wages, starting with the steel industry, then airlines and now autos--with no end in sight...
...trouble--a sign often ignored or denied by the companies themselves. "Somehow, if companies are making progress toward an objective that's consistent with [the PBGC's], then I think it's counterproductive to be exposed on this public listing," complained Gary Millenbruch, executive vice president of Bethlehem Steel, a perennial favorite...
Time proved Millenbruch wrong. The early warnings about Bethlehem's pension liabilities turned out to be right on target. Bethlehem Steel eventually filed for bankruptcy, and the PBGC took over its pension plans--which were short $3.7 billion. The company, once America's second largest steelmaker, no longer exists. In the Top 50 pension deadbeats of 1990, the PBGC reported that the funds of Pan Am Corp., operator of what was once the premier global airline, had only one-third of the assets needed to pay its promised pensions. Pan Am does not exist today...
...technology exists to convert the U.S.'s huge supply of coal into petroleum. This process, called coal liquefaction, creates a fuel that could power cars and is starting to look economically feasible. Conservation, too, benefits from technology: auto companies are suddenly getting more serious about boosting mileage by replacing steel components with materials like strong, lightweight carbon fiber...