Word: walkout
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...strike in mid-July at companies producing 90% of the nation's domestic supply. Just before Labor Day, no less an authority than Commerce Secretary Alexander Trowbridge gloomily predicted that it would be only "three to five weeks until we reach rock bottom of our supply." As the walkout dragged through its 14th week, the shortage remained as elusive as a settlement...
...walkout has cost the U.S. an estimated 450,000 tons, or 20% of last year's refinery output. As a result, many American buyers have turned to the London market and mopped up the 140,000-ton world surplus that had been anticipated this year. By last week, U.S. buying had driven copper prices on the London Metal Exchange up from 44½? a Ib. to 50⅛? a Ib. Most producers are surprised that the price has stayed that low; London copper prices normally gyrate on the flimsiest sort of news and early in 1966 they briefly...
Sooner or later, if the walkout continues, the pinch will get worse. Although the U.S. produces a third of the world's copper, it consumes a bit more than that. The Government's 259,000-ton strategic stockpile, so far untouched despite the strike, equals less than a year's copper needs for defense...
...Ford plants that make parts for American Motors Corp. than other U.A.W. workers at A.M.C. went out on a wildcat strike over a minor squabble. And beyond Ford, where it has 160,000 workers on the streets, the U.A.W. has 30 other strikes under way. Among them: a walkout of 25,000 Caterpillar Tractor Co. employees and a strike involving 4,500 Burroughs Corp. workers...
...space in which to stack up undelivered steel. The yearly rate of steel shipments is down by about 1,500,000 tons. Pennsylvania's Governor Raymond P. Shafer last week asked the governors of eight other steel-producing states to join him in negotiating an end to the walkout. And in Utah, where the economy is off by $30 million so far because of a twelve-week strike against the Kennecott Copper Co., Governor Calvin L. Rampton summoned labor, management and TV cameramen to the state capitol for a well-publicized effort to get negotiations moving again...