Word: steels
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...much protection do U.S. steel mills need from foreign competition? In answering that question last week, President Bush added to his reputation as the Great Compromiser. Instead of extending the soon-to-expire voluntary trade quotas another five years, as Big Steel wanted, or abolishing the restraints altogether, as the industry's customers desired, Bush split the difference. For the next 2 1/2 years, the U.S. will hold foreign imports to 18.4% of the domestic steel market. After 1992 the barrier will be dropped. In the meantime, Bush directed U.S. Trade Representative Carla Hills to try to negotiate...
...Steel argued for protection because it believed foreign plants were unfairly benefiting from subsidies. But the industry's customers complained that the restraints produce shortages and higher prices...
...developed "complete hydraulic failure." That meant the crew could no longer control the rudder, elevators, wing flaps and ailerons that steer the jet. Too massive to be manually manipulated, these control surfaces are normally powered by fluid pumped by pressure from the jet engines through a series of stainless-steel tubes that snake throughout the aircraft. Since each of the plane's three redundant hydraulic systems is powered by a separate engine, the loss of power from the No. 2 engine should have left two of them intact. No complete failure had ever been reported...
...festivities began with a tribute to the Declaration of the Rights of Man, attended by President George Bush and 33 other world leaders. Then Mitterrand inaugurated the glittering new $400 million steel-and-marble opera house overlooking the Place de la Bastille. The celebration culminated two days later on July 14, the anniversary of the storming of the Bastille, as fireworks exploded over the Place de la Concorde, once the site of the dreaded guillotine. Attended by a crowd of 500,000 and beamed to a worldwide TV audience of 700 million, the $15 million "opera-ballet" by French advertising...
...important transactions are done in dollars. The wait for an apartment is 20 years, an almost inconceivable reality that dominates the personal planning of most Poles. The country's underlying problem is that it invested in all the wrong industries. The state has squandered foreign loans and subsidized shipyards, steel mills and coal mines. In an age when information and high technology are the driving force of economic growth, Poland is saddled with a string-and-can phone system and a work force that spends much of its time moonlighting as middlemen for goods and services that...