Word: steelman
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Dates: during 1950-1959
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...Door. The most impressive figures came from Bethlehem Steel. Indestructible Eugene G. Grace reported sales of more than $2 billion, net income of $180 million v. $132 million in 1954; fourth-quarter profits alone totaled $57.5 million, an alltime record. With order books jammed for months ahead, Steelman Grace saw no decline in sight in spending, rather, continued demand. To meet it, Bethlehem Steel is spending $300 million to add 3,000,000 tons a year to capacity. Said Grace: "What little the auto industry has cut back, other [steel] users are knocking on our door...
Then he turned to read off a statement by that oft-bloodied but unbowed anti-unionist, Steelman Ernest Weir (in the St. Louis Post Dispatch): "Western nations should proceed on the premise that Russia now wants peace and more stable international relations," Meany snorted. "In my opinion," he said, "Mr. Weir would be serving America better if he renounced his attitude of suspicion and distrust of collective bargaining in our own country before he showered his trust on Khrushchev and his comrades behind the Iron Curtain." Somewhat to Meany's surprise-and probably to theirs too-applause broke from...
Said one Pennsylvania steelman: "Our other customers say that if we get any cutbacks from Detroit, ship the steel to them, for they're hungry." Said another: "We could sell twice as much steel as we're making." To make sure there is enough, American Iron & Steel Institute President Ben Fairless announced that the industry will spend $3 billion to increase output by 5,000,000 tons yearly for each of the next three years...
...fireworks connected with the latest Carnegie International art show (TIME, Oct. 24) were confined to the exhibition itself. Juror G. David Thompson, a Pittsburgh steelman and art collector, complained vehemently to the press that his foreign colleagues on the jury were unduly prejudiced in favor of entries from their native lands, brushing off U.S. contributors with two honorable mentions. Other partisans of U.S. art muttered that Carnegie Director Gordon Washburn himself was to blame for the poor U.S. showing, that he had ignored some of the most promising young U.S. painters. But the most baffled reaction of all came from...
...least one steelman did not expect much of a summer slump. After looking over orders already on the books, Bethlehem's Eugene Grace said: "We are trying to pace our vacations ... so they will not interfere with production. I would be sur prised if we don't go through the third quarter at 100% of capacity." Grace an nounced that even though the Justice Department has disapproved of a plan to merge his company with Youngstown Sheet & Tube on the ground that it would restrict competition, the two companies are going ahead with their merger plans. If they...