Steel: A New St. George

At Pittsburgh's Duquesne Club, where steelmen gather for grub and gossip, few names have stoked tempers faster than that of Norton Simon. The California industrialist, who uses his Hunt Foods & Industries, Inc. as a corporate base for buying into other companies

(TIME cover, June 4), heated up the industry 15 months ago by moving into Wheeling Steel, the nation's twelfth largest steel company. In abrupt Simon fashion, he forced five directors off the board, tossed out the chairman-president, charging mismanagement, installed his own chief executive. Wheeling has since rubbed the steel establishment the wrong way by dropping out of...

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