Word: laughlin
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Dates: during 1960-1969
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...Steel is in the midst of a $300 million expansion of its Gary works, and second-ranked Bethlehem has already spent $350 million on its new Burns Harbor installation, where steel-plate production is scheduled to begin this month. Jones & Laughlin is tripling the size of its Hammond mill, and National is turning out flat rolled steel from its new mill at Portage. When all the new facilities are completed, Midwest steel capacity may exceed consumption by as much as 30%. Says a Pittsburgh steel executive: "I don't know who is going to hurt whom...
...Alcoa (up 19% over 1963's third quarter), American Cyanamid (24%), Caterpillar Tractor (76%), Continental Can (26%), Eastman Kodak (39%), IBM (12%), Polaroid (83%) and Weyerhaeuser (123%). Steelmakers, who face labor negotiations next spring, were pleased but slightly red-faced about their spectacular profits: Republic up 79% , Jones & Laughlin up 97% , Youngstown Sheet & Tube...
Then Nancy Rambusch quit the Whitby School, after a disagreement with the board of directors. At the same time, an ex-actor named Tom Laughlin founded a Montessori school in Santa Monica, quickly made it the biggest in the U.S., and brought in an authentically European Montessorian couple to run a teacher-training program. Orthodox Montessorian Laughlin scorns Nancy Rambusch, confidently expects that the A.M.S. will die within three years...
European firms developed the two major postwar steelmaking innovations -the oxygen process and continuous casting-and companies such as McLouth, Kaiser and Jones & Laughlin built oxygen furnaces before U.S. Steel did. Progressive McLouth was also first with continuous casting. In addition, U.S. Steel declined to meet lower prices set by aggressive domestic and foreign competitors, sometimes abandoned markets rather than compete...
...when not surrounded by air than they do when surrounded by it. In a vacuum, atoms of gas in any material float away because they are unobstructed by air pressure. Last week U.S. Steel announced that it will build a giant vacuum "degasser," similar to one already at Jones & Laughlin, that releases contaminating gases from hundreds of tons of molten steel in minutes. Result: steel with so few harmful impurities that castings made from it for automobiles last 25% longer...