Word: steeling
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Dates: during 1980-1989
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That's right, earthlings. In Supergirl, which is due out this summer, we learn that the Man of Steel has a cousin, Kara, who fled the doomed city of Argo, a floating chip off their old home planet, Krypton, and landed in Midvale, Ill., where she assumed the identity of a Midwestern teenager. Got that? Anyway, with her muscle-bound relative away on an intergalactic mission, Kara, played by Newcomer Helen Slater, 20, is kept busy battling megabaddies like the evil witch Selena, portrayed by Faye Dunaway, 43. To prepare for her flying scenes, Slater talked with Christopher Reeve...
Justice says yes to LTV Steel...
...proposed merger of LTV's Jones & Laughlin Steel subsidiary and Republic Steel was a relatively easy matter for the two companies to agree on six months ago, but in the past five weeks it has turned into a subject of sharp controversy within the Reagan Administration. J. Paul McGrath, the Assistant Attorney General for antitrust policy, first vetoed the agreement on the grounds that it violated Justice Department merger guidelines. Commerce Secretary Malcolm Baldrige then wrote an article in the New York Times calling McGrath's decision "a world-class mistake." President Reagan strayed into the fray...
Last week the acrimony ended when McGrath gave approval to a revised merger plan. Under the agreement, LTV, the third-largest American steel producer, and Republic, the fourth biggest, will sign a consent decree requiring the merged company to sell off two Republic plants in Gadsden, Ala., and Massillon, Ohio, within six months after the deal goes through. The Alabama plant makes hot-and cold-rolled carbon and plate steel, while the Ohio one produces sheet stainless steel. The Justice Department said that paring down the production capacity of the new company will put the agreement within its antitrust guidelines...
Some observers quickly suggested, however, that McGrath was just bowing before White House pressure, but he vehemently denied it. Consent decrees normally require properties to be divested before a merger takes place. McGrath defended the new decision by by pointing to the economic plight of the trouobled industry. Steel plants are operating at less than 80% of capacity, and imports have taken 26% of the domestic market...