Word: steels
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Dates: during 1980-1989
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...pitch worked in New York, which has an unemployment rate of 6.9%; the Mondale camp hoped it would work even better in Pennsylvania, where joblessness stands at almost 10%. Last week Mondale pointedly reminded Pittsburgh voters that he pushed-and Hart opposed-federal aide to the nearby Wheeling steel plant...
...blockade was in place even before daylight broke over the smokestacks of Lorraine. Gangs of workers erected more than 120 barricades of coiled sheet steel throughout that eastern region, sealing off the major towns and shutting the border crossings to West Germany, Belgium and Luxembourg. Factories were idled; stores, banks and public offices were closed and shuttered. In Nancy 10,000 marchers took to the streets, in Longwy 15,000, in Metz 20,000. In a dramatic climax to nearly a week of unrest, the entire region was delivering an ultimatum to President François Mitterrand: repeal a draconian...
Mitterrand's response came a few hours later at a rare televised press conference. The plan, he declared, would go forward. The state had spent $2.1 billion from 1981 to 1983 to cover deficits in the steel industry, and it would probably shell out an additional $1.3 billion this year alone. "Can we go on devoting subsidies to losing enterprises forever?" asked Mitterrand. The steel plan is part of an overall restructuring program designed to make France's heavy industry competitive by trimming excess capacity and modernizing production. The process could eliminate as many as 60,000 jobs...
...Steel, as the merged company will be called, will replace Bethlehem Steel as America's second-largest producer, J. Paul McGrath behind U.S. Steel. After some inefficient operations are phased out, the new firm will have the capacity to produce 19 million tons annually and will concentrate on flat-rolled, bar, stainless and tubular steel. Its headquarters will be located at Republic's Cleveland offices...
...decision earlier this month by U.S. Steel and National Steel to withdraw their merger plans helped LTV and Republic win Justice Department support. If both deals had occurred, the two new companies would have controlled 50% of the U.S. sheet-steel market. For now, though, the U.S.-National deal is dead...