Word: ton
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...renewed plea to unions and industry to hold down wage-price boosts, at least implying more frequent and vigorous Administration jawboning of offenders. The Administration last week did score a preliminary jawboning victory. After President Carter himself and some other officials had denounced as inflationary an average $10.50-a-ton price increase by U.S. Steel, the company announced that it would peel back to be "competitive" with other steelmakers that raised prices only $5.50 a ton...
Because he conceived his mission as didactic, Blake's ruling passion was exactness. Nothing infuriated him more than the idea that visions might be cloudy or woolly. "I know too well that a great majority of Englishmen are fond of The Indefinite which they Measure by New ton's Doctrine of the Fluxions of an Atom, A Thing that does not Exist ... a Line or Lineament is not formed by Chance; a Line is a Line in its Minutest Subdivisions . . . God keep me from the Divinity of Yes & No too, The Yea Nay Creeping Jesus, from supposing...
...Steel began by lifting prices an average of $10.50 a ton, or 2.2%. That might not seem much, but together with a boost in February, it would bring steel increases to around 8% so far this year. The Carter Administration reacted with unusual vehemence. The President, jawboning at a press conference in Brasilia on his Latin American tour, charged that the rise "is excessive and does cause additional very serious inflationary pressure in our country." Vice President Walter Mondale and the Council on Wage and Price Stability (COWPS) also condemned the increase. Privately, some officials recalled with approval President Kennedy...
...Strauss got on the phone to heads of other steel companies, urging them not to follow the U.S. Steel increase. Strauss, who is becoming increasingly influential in the Administration, made the key call to National Steel Chairman George Stinson. National then posted a price rise of only $5.50 a ton, which COWPS pronounced "acceptable." The smaller increase was quickly matched by several other companies, including Bethlehem Steel, No. 2 in the industry, without whose support U.S. Steel cannot make the bigger raise stick. For the record, U.S. Steel vowed to resist any Government rollback plea. But at week...
...been better for the industry but more inflationary for the economy. The strategic stockpile, used by the Government to discipline the industry's efforts to increase prices, was virtually depleted. More important, the race to add new capacity was halted. The reason: it now costs $2,000 per ton (double the figure of five years ago) to build a new plant, according to Cornell Maier, president of Kaiser. That considerable figure does not include the costs of developing sources of bauxite, the reddish, earthy raw material, or of electricity, which is used to transform the ore by a reduction...