Word: steels
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Dates: during 1970-1979
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...cool, even with the people who are closest to him. "Jimmy's a hard person to get to know," admits Top Aide Hamilton Jordan. Says another: "His insides are made of twisted steel cable." He is notorious for not thanking staffers for their 18-hour days, and a harsh streak occasionally surfaces. When Hubert Humphrey was thinking of jumping into the primaries, Carter said that the Senator, then 64, was too old to be President, and, besides, he was a "loser." Later Carter apologized for that tasteless crack...
...flap illustrates a hardy truism: steel-price increases arouse more political excitement than increases in the price of almost anything else. True, the decibel level of the uproar this time hardly matched the furor of 1952, when settlement of a bitter steel strike turned largely on how big a price increase mills would be granted under Korean War price controls, or 1962, when President Kennedy marshaled all the power of the White House to force a steel-price rollback. Still, steel men note caustically, aluminum makers in November announced price increases of as much as 11 % on some products without...
...this special focus on steel justified? Since the Truman and Kennedy presidencies, steel's importance to the economy and its impact on the overall price structure have been shrinking. The metal has lost a large share of its markets to other materials-aluminum in beer cans and some auto bumpers, and plastics for many refrigerator parts, for example. Between 1950 and 1975, total industrial production rose 260%, steel output only 120% (see chart). Services have grown vastly in importance in the modern economy; an increase in auto-insurance rates can push up the cost of owning a car much...
Behind the closed steel shutters in the Gulfs giant banquet hall, which served as conference room, almost no one really took him seriously. "We listened respectfully to Yamani's proposals though we did not accept them," said one oil minister. When the other OPEC chieftains failed to buy his reasoning, Yamani dramatically rose from the conference table and strode out of the hall. He flew to Riyadh for talks with King Khalid ibn Abdul Aziz. The other oil ministers pretended to be unimpressed by Yamani's theatrics. Said Iraq's oil minister, Karim...
...come up for reopening in 1977, giving Carter ample opportunity to jawbone the union leaders who turned out a heavy vote for him, if he wishes. The first big contract, for 37,000 oil, chemical and atomic workers, expires two weeks before Carter takes office. Next comes textiles. Steel follows, but that is expected to be peaceful; an experimental no-strike agreement will govern negotiations. In December comes potential trouble: coal and railroads. United Mine Workers negotiators are already talking up wage increases...