Business: Embarrassment of Riches

The chief executives of the three largest U.S. steel companies faced a task that was a mixture of. pride and embarrassment. With the steel union in its third week of a strike for higher wages, they went before reporters and microphones last week to announce the biggest sales and earnings in their history. The figures for the top eleven steel firms that have reported for the half year were so extraordinary that they immediately set off a new duel between management and labor, brought widespread suggestions that the industry consider a cut in steel prices to share its profit performance with...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!