Word: steelmen
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
...knows when the inventory slide will hit bottom. Yet the cuts have been so drastic that few businessmen think they can continue much longer. Steelmen, operating at less than 60% of capacity, are making so little steel that first-quarter production may actually fall some 5,000,000 tons short of consumption, even with the big drop in steel use in Detroit. January auto sales were the most disappointing since 1954 with only 381,000 new cars delivered-down 22.6% from December. Ford Motor Co., after record 1957 sales of $5.8 billion (with profits of $282 million...
Despite President Shanks's clear optimism, it was still hard for most businessmen to see signs of an early upturn. Steelmen themselves, whose plants operated at less than 60% of capacity throughout much of January, expect no improvement in February. Detroit's worried auto men reported that January production of 489,357 units was down 8.5% from December and 23.7% lower than January 1957. As business cut back buying, the Federal Reserve announced that commercial and industrial loans in 94 major cities tumbled another $218 million for the week, making a total $1.8 billion reduction since...
...special honor to Ojeda. Larrazabal made that visit the occasion for his first policy speech. He promised fulfillment of lawful commitments, protection of foreign investments and guaranteed political freedom. The statement on investments pleased the oilmen and steelmen who hold most of the U.S.'s $3 billion investment in Venezuela. In the aftermath of the revolt, some resentment had flared against the U.S. for having maintained comfortable relations with the dictator; with this feeling was mingled a reaction against recent cutbacks in U.S. imports of Venezuelan...
STEEL PRICE BOOST of $5 to $7 a ton is coming in July. Steelmen are resigned to rise even if demand remains soft. One major reason: steelworkers' wages go up automatically July 1, and they will get additional hike if cost-of-living rise continues...
...industry will invest only $34.5 billion in new plants and machines, down 7% from 1957. Autos, aluminum, machinery and many others are planning fewer additions. But utilities, which never caught up in 1957, will have to pile on another $200 million increase to $6.5 billion next year. Many steelmen are also pushing ahead despite lower operating levels. Says Inland Steel Co.'s President Joseph L. Block, who earmarked $280 million for a three-year expansion program: "We plan for continued growth because we believe we are a growth company in a growth industry in a growth country...