Word: steelman
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Dates: during 1950-1959
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With the major steel companies about to weigh in with more record earnings, Adams was not the only steelman who felt slightly uncomfortable at announcing record profits in the middle of a strike for higher wages. Said an officer of U.S. Steel, the industry's leader: "Our earnings are pretty large. I guess they could come out at a better time. But we are taking it like good sports, proud to have done so well. Even after wage-cost push, depreciation, wasteful practices and such, we still have an awfully big hunk of dough left over...
...hard-muscled man with a slightly bulbous nose and brown hair etched with grey, Blough had not only devised the industry's new policy but would have the most say in whatever settlement the steel industry would make. He is no rough-and-tumble, up-from-the-mill steelman but a lawyer who got into steel via a Wall Street firm, thoroughly learned the business by hard-slogging homework...
...many other U.S. manufacturers, are not aggressive enough in selling. U.S. steel companies offer few credit plans, insist on payment in dollars, are often uninterested in working out deals with soft currencies. "When a Brazilian writes a letter to a German and an American steel firm," admits a U.S. steelman, "he gets back a letter from the American firm-and a salesman from the German firm." Says a Belgian steelman: "For countries like us, exporting is a matter of living, but the U.S. incentive for export is much smaller, because of its big internal market. They are not really trying...
...pension higher than the companies' $72 a month. Argued Metal Drainsman Ed Winters: "I'd like to see a retirement plan that starts after 25 years. Make that 20 years. That's what civil service has-why shouldn't we?" The steelman also wants enlarged health insurance to cover doctor bills short of hospitalization and to carry on after retirement. "That's when you need it most," said an Inland Steel worker...
...lawyer who got to the top by applying his logician's mind to the problems of heavy industry. Reserved in manner, quiet in speech, he runs Big Steel's $3.7 billion empire and its 230,000 employees with an almost academic air. "Blough," says one steelman, "is a real, warm, likable IBM machine." Unlike former Chairman Benjamin Fairless, who thought one of the ways to labor peace was to tour plants with Union Boss David McDonald, Blough believes in separation of management and labor. Grouses one union leader: "Blough...