Word: steels
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...million concrete, steel and glass structure houses the GSD's library, auditorium, classrooms, studios and offices...
...Model T, Reich points out, American managers have relied on mass production. Relatively unskilled workers on long assembly lines put together standardized products. That strategy, which served the U.S. so well for more than a half-century, is no longer viable, Reich argues. Standard goods, from shoes to steel beams, can now be mass-produced more cheaply in developing nations such as South Korea and Malaysia, where the cost of labor is lower than in the U.S. To remain prosperous, Reich says, American industry must concentrate on high-priced, low-volume customized products. Examples: computer-controlled machine tools and high...
Reich charges that too many American managers have become "paper entrepreneurs," more concerned with manipulating short-term profits than with developing new products. He laments the rush of conglomerate building through mergers and acquisitions. U.S. Steel paid about $6 billion to buy Marathon Oil last year, Reich notes, even as the steel company's own plants were becoming increasingly obsolete. Says Reich: "Ours is becoming an economy in which resources circulate endlessly among giant corporations, investment bankers and their lawyers, but little new is produced...
Reich's industrial policy is attractive in the abstract, but critics charge that it would face pitfalls in practice. For one thing, the bulk of Government aid is likely to go to old industries with great political clout (steel or autos) rather than to emerging ones (computers and robotics). This has often been the experience in Europe. Says Michael Wachter, an economic adviser to President Carter: "France and Germany have made their hi-tech sectors weaker with government help. Those industries become more dependent on their governments for support, and the help proves to be something negative, not positive...
Stephen Baron, 27, suffers from a ruptured disc that can cause him excruciating back pain. But Baron, an international management consultant in Washington, D.C., has found a topsy-turvy way to get relief. Four times a week he dons a pair of steel and foam-rubber Gravity Boots that each weigh three pounds and dangles from his heels from a chinning bar for five minutes. Says he: "It's a very restful, relaxing experience that eases the pressure off my lower back for hours. I can even hear my vertebrae clicking while I'm upside down...