Next Move

In the steel crisis, the U.S. had hoped, as usual, that someone would give in. The C.I.O. steel workers, stubbornly demanding a $2 a day raise, would not. Big Steel's Ben Fairless said flatly: there can be no bargaining until OPA boosts steel prices. Last week, OPA also refused to yield. Said OPA Boss Chester Bowles: there is no need for an increase in steel prices at this time.

The earnings of the steel industry in the first nine months this year, said he, were "well in excess" of the profit yardstick of...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

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