Word: steelman
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...secretary jerked her thumb at a closed door in the White House one morning last week and coldly observed: "Behind that door there is developing the finest set of ulcers seen around these parts in years." The door led into the office of Presidential Adviser John Steelman. There a group of baffled experts, like ants around an overturned beetle, were pondering how to handle the Brobdingnagian problem of price control...
Clark Clifford had talked to Steelman, who talked to Secretary of Commerce Harriman and Economist Edwin Nourse. Steelman, with economists, retired behind the closed door. An Administration official sighed: "I'm afraid the President went...
...somewhat apologetic explanation of the high profits, Steelman Olds emphasized that the full impact of this year's cost and wage increases had yet to be felt. G.M.'s Chairman Alfred P. Sloan pointed out that in comparison to the last prewar year, G.M.'s profits showed a much smaller percentage increase (32%) than either sales (48%) or payrolls...
...price of steel going up again? Last week some steelmen feared so. One small plant had already boosted the price $6 a ton for plate. Said one steelman gloomily: "If the price of scrap doesn't come down, the price of finished steel will have to go up." In Pittsburgh last week scrap jumped $5 a ton to $43, the highest in 30 years. Pittsburgh companies, frantically searching for scrap among dealers in other cities, heard them quote prices...
...steelman who disagrees with the industry's views-that present capacity, plus 2,500,000 tons expansion already planned, is enough-is Harold J. Rutten-berg, onetime crack economist for the C.I.O. steelworkers' union and now vice president of the Portsmouth Steel Corp. He thinks that the U.S. needs about 10 million tons of added capacity. To get it, Ruttenberg told the New York Society of Security Analysts that the steel industry should have more incentive to expand. To offset the inflated cost of expansion, the Government, said he, should give preferential tax treatment to steel profits spent...