Word: steels
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Dates: during 1950-1959
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With the effects of the steel strike still to be felt, bright earnings news last week also came from General Motors Corp., whose third-quarter profits doubled over the same period a year ago, and boosted nine months' net to $2.55 per share v. $1.39 last year...
...nation's steelmakers, the strike's effect on earnings was all too apparent. All continued to report heavy third-period losses, though most showed nine-month results ahead of last year. Top ranking U.S. Steel had its first quarterly loss in 21 years, and its largest ever. Big Steel lost $31 million in the July-September period, but had nine months' earnings of $3.80 per share v. $3.56 last year. Other nine-month steel earnings: 1958 1959 Bethlehem Steel $1.68 $1.75 Jones & Laughlin 1.45 3.15 Wheeling Steel 1.80 2.78 Inland Steel 1.86 1.99 While second-quarter earnings...
...said Saulnier, a too rapid expansion of credit caused overbuying of autos and other consumer durables, helped bring on the recession of 1957. If consumer installment purchasing increases too rapidly now and after the steel strike, Saulnier fears U.S. consumers will overreach themselves, bring on a decline...
...bulldozing Henry J. built a worldwide network of diversified companies with an independence and daring that alternately drew gasps, laughter, and profanity from U.S. industry. Last week Son Edgar once more proved that the Kaisers are mavericks: he settled with the striking United Steelworkers on behalf of his Kaiser Steel Corp., thus breaking the industry's solid ranks...
When he joined the industry's bargaining team for the first time this year, energetic, voluble Edgar Kaiser insisted that he be free to talk with union leaders on his own. While other steel heads refused to meet personally with the union, Kaiser bargained diligently. He called his settlement "noninflationary." To Edgar Kaiser the time seemed at hand to stop talking and get back to work. Says he: "We do not believe it's right to put people back to work under a court injunction. When you force things upon human beings, you simply make more trouble...