Word: pickup
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Under the hood, the news is negative. The turbine engine, touted at last year's show as the wave of the future in power plants, is nowhere to be seen this year; its pickup and power problems seem a long way from solution. Studebaker's prototype fuel cell is still not ready for public exhibition. But on the standard engines, the car manufacturers have boosted horsepower on nearly every model...
...meet the new demand, Youngstown Sheet & Tube relit three ironmaking blast furnaces and nine steelmaking open hearths. Chicago's Inland Steel recalled 1,500 workers from long layoffs. Outside Pittsburgh, U.S. Steel reopened its obsolescent Edgar Thomson Works, usually one of the last to resume production during a pickup...
...labor stoppage in steel this year, steel customers are actually doing less hedge buying than before last year's contract talks. Industry sources estimate that hedging accounts for no more than 15% of all orders. Though the thriving automakers are prudently stockpiling heavily, most of the industrywide pickup reflects immediate need. Tin-plate demand is rising as the canning season approaches, and appliance makers need more steel because their sales are running 12% to 20% above last year's high levels. Builders also need more structural steel because of the rise in capital spending (see below...
...taken to smothering their corporate clients with helpful services, from figuring their payrolls to giving advice on foreign investments. But nothing wins over the flinty-eyed treasurer like a better interest rate. "It's fantastic what some of them will do for a one-hundredth of one percent pickup in interest," says a Los Angeles banker. Adds President Emmett Solomon of San Francisco's Crocker-Anglo Bank: "The corporate treasurer is in the driver's seat...
...nine new Meyers children-five daughters and four sons ranging in age from 13 to two-had their last Christmas with their mother and father, Mr. and Mrs. Walter Baker, at their home in Battle Lake. Minn. Three weeks later they were orphans, when the Bakers' pickup truck flipped over and killed both parents. In Charlotte, N.C.. Donald, an executive at the local plant of the Celanese Corp.. read the newspaper account of the accident and at once knew what to do. His wife quickly agreed. "There is room for them here-in our home...