Word: steels
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Dates: during 1970-1979
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...Quake finally happens, sundering the foundations of the giant Hollywood reservoir. In San Francisco, the world's tallest building, a 136-story glass tower, explodes in flames. Vast armies of ants relentlessly eat their way across the great southwest desert. Billions of giant bees swarm malevolently through the steel canyons of New York City, and somewhere underground the survivors of nuclear warfare find their cavernous retreat invaded by hordes of vampire bats...
...more subtle but very real threat is that companies will be unable to raise the vast sums of capital they will need to expand capacity so that they can relieve shortages of oil, steel, paper and other products. For that, corporations need not the short-term funds they can borrow at the bank prime but the long-term money raised by selling new issues of bonds or stock. But as towering interest rates make bond issues costly, they also depress the stock market by luring money away into such high-yielding investments as bank certificates of deposit. The Dow Jones...
Moneymen are also cheered by a recent sharp plunge in some commodity prices. Wheat, for example, dropped from $6.11 per bushel in February to $3.62 last week, beef cattle from $46.25 per hundredweight to $38.90, and steel scrap from $115 per ton to $100. If these drops continue, economists believe, corporations will stop scrambling to borrow in order to stockpile raw materials. Indeed, they may sell off some of their present inventories and start repaying their loans...
...Krupp Foundation owns all of the shares of the Krupp companies which manufactured "Big Bertha" and other weapons for Nazi Germany in World War II. The company now manufactures steel, trucks and other industrial products...
Productivity has also been impeded because management in recent years has not built enough new plants or replaced obsolescent equipment. The lack of modern capacity has caused some productivity lags in railroads, steel and other industries. Of the eight leading industrial nations, the U.S. has been reinvesting the smallest portion of its gross national product on new plants and equipment, about 10%. Japan has been plowing back nearly 20%, Germany and France 15%. Businessmen have not been able to invest as much as they might like in productive machines in recent years, partly because of a profits squeeze...