Word: steelmen
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...charged that the rise "is excessive and does cause additional very serious inflationary pressure in our country." Vice President Walter Mondale and the Council on Wage and Price Stability (COWPS) also condemned the increase. Privately, some officials recalled with approval President Kennedy's crack about the genealogy of steelmen* and made sarcastic, and misleading, references to a fat salary increase that they thought U.S. Steel Chairman Edgar Speer had collected. (In fact, Speer's combined salary and bonus was $372,972 last year, down from...
...steelmen's case for higher prices is simple: they need more money, and quickly. Steel profits have slumped deeply this year; Bethlehem in the third quarter reported a record loss of $477 million. The announced price rises found a generally sympathetic ear in Washington. Barry Bosworth, director of the Council on Wage and Price Stability, termed Wheeling's 7% increase "awfully big," but a COWPS official later said of the Bethlehem-Inland hikes: "With inflation running around 6%, nobody is terribly concerned about a 5.5% increase?if that's to be the only increase...
...mills, forcing more than 60,000 workers out of jobs in the past year. Steel executives, union men and a new caucus of Congressmen from steel-producing areas have brought heavy pressure on the Carter Administration to do something. The President's first response was to invite steelmen to file complaints against the "dumping" of foreign metal-that is, selling it below cost. The trouble is that though dumping violates both U.S. law and international trade rules, it is difficult to prove...
...antipollution equipment. This proposal would be included in the tax plan that Carter will send to Congress next year and would apply to all heavy industry. But the stiff cost of installing air-and water-purifying equipment required by the Government has been a particular sore point to steelmen...
...others pledge to arrange a series of meetings between Carter and business leaders. Such meetings do seem to help: for example, on the same day that he assailed Big Oil, the President dropped in on a White House conference between his aides and steel executives and cheered the steelmen by pledging to take vigorous action on any complaints they file against "dumping" of foreign steel in the U.S. (that is, the selling of imports at prices below their costs of production). The President is also considering a major speech on economic policy just before or after his nine-nation tour...