CORPORATIONS: Feast in the Famine

Pound for pound, the most wanted metal in the U.S. today is nickel. Last week it commanded the highest premium paid for any metal on the grey market—$3 a lb., five times the going rate. With Government stockpiles and defense users gobbling up 40% of the free world's total output (v. only 10% for copper), automakers alone had to pay out more than $21 million last year in grey market premiums for the precious hardener for bumpers, crankshafts and a dozen other parts. The shortage is so critical that the Administration, while...