STATE OF BUSINESS: Summer Strike?

Dave McDonald, the Steelworkers' handsome chief, put on his best scowl last week as he posed for a TV film, and essayed some rolling perorations in the inimitable manner of the master, John L. Lewis. McDonald cried that in the current negotiations the steel industry had made an "about-face" on 20 years of collective bargaining, and given his union an "ultimatum" to accept a "substandard contract." After four weeks of negotiating between McDonald and U.S. Steel's John Stephens, the industry's chief spokesman, the differences boiled down to i) a union demand for a 28.3ยข an hour "package" deal v. a...

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