Word: steels
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Dates: during 1980-1989
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Gary Hart likes to say that if he is elected President, he will assemble management, labor and finance leaders of "key" industries such as steel and autos at the White House, where they will jawbone out a deal under Government guidance. Labor would make concessions in wage demands in return for job guarantees, business would promise to reinvest in new equipment in exchange for Government-backed loans, and so forth. It is an interesting idea, until one recalls the exhausting battles that invariably surround a single corporate bailout, such as that of Lockheed or Chrysler Corp. Moreover, an industrial recovery...
...into its compact Mustang and produced a car with neck-snapping acceleration: 0 to 60 m.p.h. in 7.2 sec. The luxurious Continental Mark VII LSC has been redesigned for better handling. It has a new slippery shape and a suspension system that uses air-filled rubber sacks instead of steel shock absorbers. Another manufacturer that has been especially successful with cars designed for demanding drivers is Pontiac. In addition to the Fiero, it has won over customers with its 6000 STE, a mid-size model aimed at wooing young adults away from expensive imports. The STE has a wedge-shape...
...opening dispels any doubts on that point. In a blitzkrieg of light, sound, lasers and smoke, shambling creatures that resemble Big Bird's pal Mr. Snuffle-Upagus re-enact a short, skewered version of The Sword in the Stone. The young man who yanks the steel out of the rock turns out, of course, to be our Michael, and the lasers reflecting off the blade into the far reaches of the stadium make him look for a moment like a dashboard saint from a head shop. This prologue is dramatic, funny and, at the end, nicely self-mocking. Spoilsports...
...steel and copper complaints were timed so that the President would have to decide what to do in the heat of an election campaign. Though Ronald Reagan claims to be a free trader at heart, he has supported quotas and other restraints on imports of autos, textiles, sugar, motorcycles and steel. Administration officials argue that these actions were political concessions necessary to prevent Congress from imposing even tighter restrictions on imports...
...were still rebuilding their economies in the aftermath of World War II. Observes Robert Gough, a senior economist with Data Resources, a consulting firm: "The domestic market was so rich that the U.S. was not as aggressive in developing foreign markets as other countries." Many industries, including autos and steel, let factories become outmoded. Companies also granted wage hikes to workers that outstripped productivity growth...