Word: steels
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...richest and most strategic nation was going out of his way to take a relaxed approach to victory. On the day following the election, Kohl's staff conference began, as usual, at 10 a.m. on the second floor of Bonn's low-slung, glass-and-steel chancellery. The Chancellor kept to his daily appointments. The biggest change in staff routine involved the drafting of replies to the congratulatory telegrams and telex messages that had poured into the building after his impressive victory...
...decades every contract signed by the major steel producers and the United Steelworkers brought higher wages and benefits for the people in the grimy business of running America's blast furnaces and rolling mills. In time steelworkers became the highest-paid blue-collar employees in the U.S. In January their average hourly pay ran at $14.39, vs. $13.07 for auto workers and $8.71 for manufacturing workers generally...
...November management won an 11% pay reduction in talks with the union's leaders, but the presidents of the union locals subsequently voted down that cut. Last week's agreement was approved 169 to 63 by the local chiefs representing workers in the seven largest companies: U.S. Steel, Bethlehem, Jones & Laughlin, Republic, Armco, National and Inland...
Adding to the pressure on negotiators for both sides were big steel users, among them General Motors. It had threatened to begin ordering supplies this month from foreign makers if no contract was reached. Such an impasse would have left the industry vulnerable to a strike after Aug. 1, when the old contract was to have lapsed. Last week's deal supersedes that one, and it will run through July 1986. The reduction in hourly pay becomes effective immediately. But it will be restored in increments in 1984, 1985 and 1986. That did not appease everyone. Said Fran Rattigan...
Paradoxically, the givebacks come just as things are looking a little brighter for the domestic industry. Orders for steel are picking up. For its part, U.S. Steel plans to fire up an idled blast furnace at its Edgar Thomson works in Pennsylvania, which has not made iron for more than a year. In February, steel production was running at 50.3% of capacity, a huge jump from December...