Word: steels
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Dates: during 1950-1959
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Even conservative economists now expect that-barring a steel strike more than six weeks long-the economy will roll steadily on to $490 billion in the current quarter. Then only a few weeks will separate it from the half-trillion-dollar threshold. At that rate of growth, the U.S. economy will hit the $750 billion mark before...
...industry-autos and steel-last week reported the second quarter's most dramatic earnings...
Good Sports. The vanguard of earnings from the nation's struck steel companies confirmed estimates that steel had had a record half-year. Inland Steel doubled its earnings for the half to $2.43 a share, but was outshone by the performance of other reporting companies. Allegheny Ludlum raised its half-year profit 802% to a record $3.20 a share, Jones & Laughlin hiked profits 642% to a record $5.31 a share, and Crucible Steel ran up a new record with earnings of $2.22. Seeking to explain the high steel profits, Jones & Laughlin's President Avery C. Adams pointed...
With the major steel companies about to weigh in with more record earnings, Adams was not the only steelman who felt slightly uncomfortable at announcing record profits in the middle of a strike for higher wages. Said an officer of U.S. Steel, the industry's leader: "Our earnings are pretty large. I guess they could come out at a better time. But we are taking it like good sports, proud to have done so well. Even after wage-cost push, depreciation, wasteful practices and such, we still have an awfully big hunk of dough left over...
...faced another deadline that could shut down a second major industry. With contracts covering 82% of U.S. aluminum-producing capacity about to expire, the top U.S. aluminum makers-Alcoa, Reynolds, Kaiser-turned down labor's demands for the same wage package that the union failed to get from steel management. Barring a last-minute truce, the United Steelworkers (32,000 aluminum members) and two other unions (28,000 members) were ready to walk out. A stoppage in aluminum would slow planemakers, missilemakers, other defense contractors; customers have an estimated 30-to-60-day supply on hand...