Word: steelman
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...lawyer who got to the top by applying his logician's mind to the problems of heavy industry. Reserved in manner, quiet in speech, he runs Big Steel's $3.7 billion empire and its 230,000 employees with an almost academic air. "Blough," says one steelman, "is a real, warm, likable IBM machine." Unlike former Chairman Benjamin Fairless, who thought one of the ways to labor peace was to tour plants with Union Boss David McDonald, Blough believes in separation of management and labor. Grouses one union leader: "Blough...
...Adams and fellow executives contended that profits are still "inadequate" to support a wage hike. Even at last year's relatively high levels, steel's profits-to-assets ratio ranked 27th among the nation's 41 key industries. The "obvious" solution to wage-push inflation, said Steelman Adams, is to restrict "the growing labor monopoly power, even as other monopoly powers, which have threatened our welfare, have been restricted." Snapped an aroused Dave McDonald: "Baloney...
Clean Haul. In Birmingham, Sadie Marie Steelman reported that thieves had broken into her house, ransacked her kitchen for food, washed their clothes in her washing machine...
...following up the Securities and Exchange Commission probe of Goldfine's real-estate troubles, asked if "the only time that you have been required to comply with the law has been under the present Administration?" Goldfine: "That is correct." Asked for details of how he got John R. Steelman, of President Truman's White House staff, to wrangle approval on a $12 million RFC loan, Goldfine relished the answer: "I was more at the White House at that time than I was since Governor Sherman Adams was at the White House...
...average operating rate of 60.5%, the highest level this year. Part of the increase might be a hedge against a possible July price rise, and production may drop again when summer vacations start taking effect. Yet there was enough of a general pickup to convince many a steelman that he should fire up idle furnaces, rehire laid-off workers. While steel's 1958 recession has lasted for longer than the drop in 1949 (see chart), it shows a close similarity to the slide...