Word: steels
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Dates: during 1950-1959
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...undergraduates, describe their political temperament as "radical" --judging from the questionnaire--over a seventh support "full socialization of all industries," more than a fifth favor socialization of the medical profession, and nearly a third believe that the Federal government should own and operate all basic industries, such as steel and railroads. In a society that accepts such phrases as "free competition" and "private enterprise" as its conventional rhetoric, it is curious to find extensive support--even among students--for socialization and similar radical proposals...
...young men arrived in Cambridge for Freshman Registration--Harvard's Class of '34. On that day, September 19, bootleggers shot and killed a Federal revenue agent in a New Jersey brewery, Einstein submitted a paper on "Theory of Space Conceptions with Riemanian Metrics and Extended Parallelism," and U.S. Steel closed the market with...
STEELMEN credit him with the major reorganization of Big Steel that eliminated the sprawling semi-autonomous subsidiaries, turned them into divisions of one central corporation that took responsibility for both policy and production. He pushed hard for a standard cost system throughout the company. He expanded its savings plan, whereby the company matches every dollar saved by its nonunion employees (the union turned down the plan) with 50? of its own, and he broadened the incentive program, which now covers 75% of all employees either through cash awards for production ideas or through stock options. Blough, who himself picked...
...Pittsburgh, where he spends a third of his working time at the operating headquarters, his home is a suite of rooms atop the Mellon-U.S. Steel Building; in Manhattan, his home is a Park Avenue apartment minutes away from the corporate policymaking headquarters. He often starts his day at 4 a.m. or 5 a.m. sitting quietly in his den or kitchen working out corporate problems on a yellow pad of legal paper, and his workday rarely ends before 7 or 8. His free time is generally spent with his wife in a sprawling Victorian house in Hawley...
BLOUGH argues that the dollars corporations earn as profits have remained virtually stable for ten years, while wages have more than doubled throughout U.S. industry. In steel alone, employment costs have jumped at the compound rate of 7.9% each year since 1940. The industry still made a profit of 6.3% on its sales last year (an even better 8.7% for U.S. Steel), but Blough argues that profits still fall far short of the cash needed for expansion. U.S. Steel alone had to borrow $600 million in the last five years. As for inflation, Blough considers congressional suggestions of wage...