Word: steelmen
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...once it has escaped can be quite a fascinating exercise. President Truman let one loose after Columnist Drew Pearson blasted Aide Harry Vaughan; Pearson promptly promoted a new fraternity, "Sons of Brotherhood." Kennedy, SOBing during the 1962 steel crisis, blamed his father for having told him that big steelmen fit the description. Canada's Prime Minister John Diefenbaker stirred some trouble after an Ottawa meeting when his staff claimed that notes Kennedy left behind revealed that the President had SOBed Diefenbaker in the margin. Kennedy claimed he couldn't have done that because he did not know until that very...
Whatever the outcome of the wage negotiations, steelmen face equally formidable long-term problems. While foreign producers have shifted over increasingly to highly efficient "continuous casting" techniques for steelmaking, U.S. firms still rely heavily on much more costly and labor-intensive processes. Though U.S. companies had been planning to spend upwards of $7 billion during 1982 on new investment to upgrade their plants, plunging sales have so severely crimped their cash that most new capital-expenditure plans have now either been put on hold or abandoned entirely...
Protectionist trade barriers are clearly no answer to the industry's woes. But as the vital signs of a recovering economy at long last begin to work their way through business in the months ahead, steelmen need at all costs to avoid the sort of calamitous strike that would knock their companies flat as well as send imports leaping. Only after the industry has struggled back to profitability can it have any hope of solving its deeply rooted long-range problems. For now, at least, the challenge facing Big Steel is measured in months, not years...
Perhaps no industry is more suffused with nationalistic pride than steelmaking. Last week brought a chilling whiff of the protectionist sentiments that are easily aroused when steelmen start complaining of foreign competition. At issue were charges filed in January with the U.S. Commerce Department by a group of seven American steel producers, including U.S. Steel, Bethlehem Steel and Jones & Laughlin Steel. The companies charged that foreign producers, mostly from Western Europe, had chiseled their way into a 19% import share of the U.S. market by selling government subsidized steel to American buyers...
...steel producers some more of that precious breathing room they keep asking for in order to get their industry back on track. The action, though, could bring on the very sort of risky and pointless transatlantic trade battles that would benefit no one. Either way, the outlook for steelmen is not encouraging. not encouraging. - By Christopher Byron. Reported by Gisela Bolte/Washington and Lawrence Malkin/Paris