Word: weir
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...worry, in most cases, was the fact that costs had driven the breakeven point (i.e., the volume at which a business starts to make money) much higher than ever before. "If steel operations were to decline to 80% of capacity," said National Steel's Chairman Ernest T. Weir, "there would be no profit under present costs." (Prewar break-even point of U.S. steel: 48%.) Though most businessmen keep their break-even points to themselves, they were plainly worried lest a small drop in volume lead to a big profit drop. Thus, even a "mild" recession might be something like...
...scouis Lamar and Boston said the Cavaliers were overconfident, to say the least. HARVARD VIRGINIA W. Flynn (200) le Elliott (205) Honston (200) lt Kirkland (250) Drennan (190) lg Thomas (190) Glynn (205) e Frizzell (212) Feinberg (188) rg Baumann (202) Pierce (215) rt Barbour (210) Hill (180) re Weir (178) O'Donnell (160) qb McCary (172) Kenary (180) lh Bailey (198) Gannon (180) rh Pennel (177) Moravee (200) fb G. Jones...
...That's Neff." said the savant. "Weir surrounded. Hand me my Papitchute. But before Bailey out, I'll say Harvard 24 Virginia...
National Steel's Chairman Ernest Tener Weir figured that his costs since the first quarter, aside from those on coal, had risen $11 per ton of steel. His breakdown: scrap $4, labor $4, fuel oil $1, miscellaneous $1, depreciation $1. Scrap prices, which have jumped over $10 in two months, are now at an alltime high average of about $40 a ton and still rising. Under such conditions, said steelmen, boosts in the prices of finished steel were not only warranted but "imperative...
What effect would this have on the nation's economy? The steelmen, naturally, said that it would be small. Said National Steel's Weir, "The increased cost for a refrigerator won't be more than a couple of dollars." The American Iron and Steel Institute estimated that a price rise of $6 to $7 a ton in steel would mean a direct increase of $10.50 to $12.25 in the cost of producing the average automobile. At week's end, automakers and other hard-goods manufacturers were still mum on any price rises. But in most...