Word: steels
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Dates: during 1950-1959
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...corporation Business Council for International Understanding, which will train any U.S. executive (and wife) before he tackles a foreign assignment. Aims: a working knowledge of the new culture and language, an ability to explain and defend the U.S. abroad, expert tutoring from State Department officials. "Long overdue," said Republic Steel (and B.C.I.U. Policy Board) Chairman Charles M. White. "It could mean the end of the overseas misfit...
...self-appointed task as an impartial factfinder in the steel strike. Labor Secretary James P. Mitchell labored for a painstaking month" under a mountain of steel statistics. Last week, reversing his original plan to keep the statistics only for Administration use, Jim Mitchell decided to share them with the country. Many an anxious reporter and confused citizen hoped to find in the Mitchell report a solution to the five-week-old steel strike. But the report produced more of a sputter than a bang. It bent so far backward to be impartial that each side in the steel dispute immediately...
Telling Statistics. The report nonetheless underscored some telling statistics. Mitchell reported that the 20 largest steel companies earned less on their invested capital (12.8%) than the nation's 25 biggest industrial firms (14.7%) in booming 1955-57, which tended to take some of the steam out of the union's talk about huge steel profits in 1959's exceptional first half. On the other side, the report answered industry's contention that a wage raise would necessitate a price rise. It showed that since 1951 the industry's wage-and-benefit costs...
Pointing a finger at both sides, the report noted that rises in steel prices (up 178% since 1940) and wages (up 85% since 1950) have been much sharper than in other manufacturing, and that steel wages ($3.10 an hour) are far above the manufacturing average ($2.23). Furthermore, steel's productivity from 1947 to 1957 rose only 3% a year, v. 3.1% for all manufacturing. That was an unspectacular performance, both by steel workers whose wages have been rising by an average 6.4% a year, and by steel management, which claims that it is spending so much to boost...
...subtle prod to union and labor, Jim Mitchell announced that he still had other statistics-some of them perhaps more telling-that he intended to dribble out to keep up the pressure. At week's end he released another report stating that the impact of the steel strike "has been severe and is expected to be felt increasingly in weeks to come." The number of jobless workers in steel-related industries has risen to about 125,000-60% in railroads and coal mining-and 75,000 of them have applied for unemployment aid. But there...