Word: weir
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Dates: during 1940-1949
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...strip mills to study whether they might be converted to plate production. Present annual plate capacity is some 6,500,000 tons; it was hoped that 1,500,000 tons could be added to this by conversion right away. One example was announced last week: smart Ernest Tener Weir's National Steel (see p. 74) is rearranging its Great Lakes subsidiary (hot-rolled strip and sheets) to provide 300,000 tons of light plates, saving at least a year over the time it would take to build a new mill...
...decree threw the steel industry into an uproar of protest. But the uproar was nothing compared with the indignation aroused when Steel Tycoon Ernest Tener Weir lined himself up on Henderson's side this week. Figuring the wage increase his National Steel precipitated earlier this month would cost the industry not more than $135,000,000, he termed the amount "insignificant" compared with Government defense spending. Said he: "There are no facts available today on which ... to determine the necessity of a price change now. ... It won't hurt the industry to take three months to produce facts...
...Weir, who has no contract with C.I.O...
...wants none, knows well that high wages keep union organizers away. So Weir pulled a fast one: he announced a 10? wage rise, retroactive to April...
...save face (by proving it could do as much for its members as anti-union Weir had done unasked for his employes), C.I.O. had to insist on the full 10? rise which it had proposed originally as a barganing point. Other steelmakers had no way out of following Weir's lead. This week not only did Bethlehem, Republic, Otis, Youngstown Sheet & Tube all grant a 10? wage increase, but U.S. Steel ended the fear of a Big Steel strike by settling with C.I.O. on the same basis. This will raise their labor costs around 16%. Their estimates...