Word: steels
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Dates: during 1950-1959
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When parliament met again, the new speaker readmitted the six deputies. Opposition members exploded with fury. They tore their desks from the floor ripped their microphones out of their stands, and charged. Steel microphone stands whipped at Ali's face, a desk panel struck him full on the head, and he went down in a pool of blood. After steel-helmeted cops arrived to break up the melee, sergeants-at-arms bore Mr. Speaker off to a hospital on a stretcher. He died two days later, the first presiding officer of any parliament in the history of the British...
...historic week for Wall Streeters. Led by such blue chips as U.S. Steel and Standard Oil (N.J.), the Dow Jones industrial average broke through the 520 level that has been a barrier three times before, climbed to an alltime record high of 526.57 before settling back to 526.43. What gave the market its record-breaking push was the same combination of improving business news, institutional buying and fear of inflation that has sent it on one of the steepest climbs in history...
...rehiring. In nonelectrical heavy machinery, employment dropped from 1,738,000 last year to 1,486,000 last May, slid still farther in August. Chemical-industry employment dipped from last year's 845,000 to last May's 817,000 to August's 812,800. In steel, the United Steel Workers reported that the number laid off has risen from 212,000 in February to 260,000 in August -though production rose from 54.6% of capacity...
...costs have forced industry into a major drive to produce more with fewer workers, placing new emphasis on automation and efficiency. Last week's wage boosts in Detroit (see State of Business) will accelerate the automakers' drive to cut back. Said a vice president of a major steel company: "Labor fails to understand the fact that the more expensive labor gets, the more incentive there is to eliminate it. It costs us $25 a day for every steelworker that walks through the gate. Naturally, there is a great incentive to eliminate that cost...
...hour week at 40 hours' pay. G.E. refused, said the offer actually would boost its wage bill by 14%. The union drive for a shorter week will undoubtedly be spurred by the recession-hastened cuts, which may prove permanent, in the payrolls of such basic industries as railroads, steel and autos...