Word: steels
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Even some of the nation's deeply depressed basic industries were showing signs of life, although very faint ones since their problems stem as much from foreign competition as from lack of demand. U.S. Steel has rehired 2% of its labor force, but that still leaves only 42% of its workers on the job. "There have been a couple of blips, but we don't see signs as yet that this is a basic recovery," says Spokesman Andy Stursky. In Detroit, auto executives predict that 1983 sales will be 10% higher than those of 1982, which...
...siege and the slaughter remain unmended. In the final stages of the massacre, Phalangist militiamen ran bulldozers into homes with the dual aim of destroying shelters and burying victims in the rubble. On the main street running through Shatila, a demolished house is a tangle of rusting steel supports. Remnants of clothing are caught in the twisted red bars, so that the rubble looks like a nightmarish clothes closet. The second story of another house is exposed where a wall was ripped away. On the upper floor a drinking glass still sits on a ledge above a washbasin, exactly where...
Occidental Petroleum is currently groaning under the burden of Cities Service, for which it shelled out $4 billion last year. Oxy's long-term debt has now jumped from $1 billion to $5 billion, while its earnings have dropped from $722 million to $221 million. Similarly, U.S. Steel fought off Mobil to rescue Marathon Oil and is now struggling with the $6.7 billion price of its chivalry. Its steel business is down sharply, and while Marathon's earnings were at a record high last year, they are currently threatened by the downturn in oil prices. To help compensate...
Harvard's most precious historical documents are secured two floors underground behind a steel door with a combination lock. There, they are regularly inspected by Harley P. Holden, the archives' curator. "I like to check these every few days," Holden says, as he opens up the large red folder that contains Harvard's original charter, drafted in 1650 but now stained and nearly illegible...
Conducted in a fortress-like Rome gymnasium guarded by several hundred police and carabinieri, the trial lasted nearly nine months and involved testimony from 298 witnesses. Throughout the proceedings, the defendants, 18 of whom were women, were penned in six steel cages, while those who had become informants were protected by bulletproof glass. As one of the cooperative terrorists walked to his seat last week, a defendant yelled, "You would sell your own mother...