Word: steelman
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...Steelman McDonald had hardly spoken before the United Auto Workers' Walter Reuther topped him. The U.A.W. decided Reuther's executive board this week, will patriotically forget all about its plan for a shorter work week in 1958 negotiations. Instead U.A.W. will couple its new demands for wage increases with a novel program of profit-sharing for wage-earners. And just in case this might not bring him a big enough audience, Reuther was ready to propose (but not "demand") that automakers also share their profits-in the form of rebates-with their customers...
...price of steel, and the price of steel products, Steelman Blough continued, have often moved in opposite directions. From 1951 to 1955 the price of steel rose 14%, while household appliances dropped 13%. When U.S. Steel in May 1948 tried to fight inflation by refusing a wage increase and instead cut steel prices by $1.25 a ton, the cost-of-living index spurted two percentage points during the following three months. After three months U.S. Steel realized "we might as well have tried to stop an express train with a peashooter. So we had to rescind our price action, increase...
...Maine President Patrick McGinnis, CBS Commentator Eric Sevareid, U.A.W. Vice President Leonard Woodcock, and a host of presidents and heirs apparent from some of the nation's largest companies. As for the 225 executives who have already attended Aspen, they consider the institute their second alma mater. Says Steelman Clarence Randall: "I am still in a very warm glow over my adventure at Aspen. It ought to be required for every man holding substantial responsibility in the business world...
...cold war when such talk was unpopular. Meanwhile he steadily pushed National Steel into position as the nation's sixth biggest producer (1956 sales: $664 million). When, after a severe heart attack, he finally stepped down as chairman and chief executive this spring, he was the last U.S. steelman still running a major company he had founded. Last week, at 81, Ernest Tener Weir died in Philadelphia of the infirmities of great...
...Ernest Tener Weir, 81, last steelman still running a major steel company he founded, stepped down as chairman and chief executive of National Steel Corp. because of ill health. At 15 Weir started working for a Pittsburgh wire company for $3 a week, at 30 acquired a broken-down West Virginia tin-plate mill and built it into the nation's sixth largest steel company, with 1956 assets of $675 million and $664 million of sales. In his career Weir fought the Government, unions and fellow steelmakers; his is the only sizable steel company not organized by the United...