Business: Third Man at the Table

As they got ready to bargain on a new contract, steelmakers and union seemed well aware last week that there will be a third man at the table: the public. Both sides were firing off statements designed to win friends and influence people. United Steelworkers President David McDonald, who had rejected the steelmakers' request that he freeze wages, demanded that the steelmen freeze prices for the life of the new contract, and still give 500,000 steelworkers higher wages and benefits. This would be "justified," McDonald argued, by the industry's heavy profits (see below)...

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