Word: steels
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Dates: during 1950-1959
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...socialism. Unlike most nations from the Mediterranean to the China Sea, India is not seriously threatened by a revolutionary group or a military clique. Communists rule one state, Kerala, but are having troubles there, and have made surprisingly little headway among the mass of peasants and workers. Across India, steel mills are going up, cities expanding, the red earth being diligently gouged for canals, dams, roads. Among the young, caste distinctions are losing importance, and some Brahman students even do special tutoring among their Untouchable classmates. Universities now graduate more and more engineers and technicians instead of the former stream...
Near week's end Producer Susskind withdrew plans for his TV Ben Hur. Still in the works for CBS's U.S. Steel Hour: a TV play about the life of Sigmund Freud, anticipating a planned movie. The odds are nicely balanced. While the movie makers have Existentialist Jean-Paul Sartre to write the script, TV has Farley Granger to play Professor Freud...
More second-quarter-earnings reports last week indicated where business recovery is rapid and where it is slow. It is rapid in some aircraft companies, in machinery makers, rubber and steel. It is slow in base metals and oils, which still suffer from low prices and excess capacity. Both Anaconda Co. and Kennecott Copper Corp., the country's two biggest copper producers, failed to cover their dividends; Kennecott chopped its quarterly payment from...
...lengthy contracts by signing the first important five-year pact with the United Auto Workers in 1950, has been burned. In the first half of 1958, when earnings dropped by $147,700,000, its labor bill went up per worker, because of a cost-of-living rise. G.M., U.S. Steel and the other giants can afford such bumps as the price of labor peace. Many a smaller company cannot. Says a spokesman for another automaker: "The ups and downs of the business cycle have a less basic effect on G.M. than on us. We feel better with a contract negotiated...
Another major effect of long-term contracts is to nudge the price spiral higher. Long-term contracts boosted the steel industry's labor bill by 26? an hour last month; steel prices advanced soon after by $4.50 per ton at a time when many experts argued strongly for price cuts to stimulate the nation's economic recovery. Money-losing railroads were obliged to hike hourly wages by 12? last November, pile on 4? more in April, now are slated for a third 7? jump this November. Meanwhile, they fall deeper into the red, though both passenger and freight...