Word: steels
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Dates: during 1950-1959
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...Steel...
...sits down and delves into the nature and causes of the present steel crisis, these facts will be brought into focus...
...their battling over steel negotiations, both management and labor naturally pick the figures that best prove their case. Determined to hold fast against any wage hike, industry points out that the steelworkers' average hourly wage of $3.08 is higher than in all but a handful of U.S. industries (coal, glass, construction). According to industry statistics, postwar wage costs have risen nearly twice as fast as the cost of living. Replies the union: average earnings do not mean anything, because the majority of steelworkers have to work at incentive pace and on undesirable shifts and normal off-days to achieve...
When it comes to steel industry profits, a key point in the argument, management and labor find it even harder to agree on the facts. Last week the Government announced that the steel industry's near-record first-quarter profits of $374 million after taxes represented 11.7% of stockholders' equity, higher than in U.S. manufacturing as a whole (10% of equity); second-quarter earnings are expected to be even rosier. But the Government's report also pointed out that over the last ten years steel has not done as well as other industries, and steel companies complain...
Ever since the late Charles M. Schwab took over Bethlehem Steel in 1905 and set about making it the nation's No. 2 steelmaker (after U.S. Steel), the company has prospered by paying the fattest executive bonuses of any U.S. corporation. Last year Bethlehem's President Arthur Homer received $100,000 in salary, plus $411,249 in bonus, making him the highest-paid U.S. corporate executive. For years many Bethlehem vice presidents have been paid more than presidents of larger companies. Last week Homer and the 19 other Bethlehem executives who share in the company's lush...