Steel Industry Quotes
In 1961 the President intervened in a labor dispute in the steel industry with the "understanding" that the steel companies would not raise their prices after the settlement. As soon as there was a settlement prices were raised:. The President "persuaded" the steel executives to rescind the increases.
In the Meltdown of 2008, the American Auto Companies were in dire straights and faced bankruptcy with no certainty that the industry could stay alive., They were running out of money and President Obama decided to make loans, take stock and control and force modernizing on the industry. As a result, and with some Toyota mismanagement, the companies returned to profitability and paid back their government loans early and as a result the bailout had not cost the taxpayers any money. Creditors however were outraged that the lost their preferred advantage had their been a bankruptcy.
At the time France and Germany controlled different parts of the Ruhr Valley. Each believed that they should control it all and the other had no right to control any of it. This never did get settled and was one of the justifications Germany gave in WWII for invading the area. Haskins was one of only three assistants who were part of Woodrow Wilson’s team that negotiated the Treaty of Versailles ending WWI.
This historical quotation shows the extremely rapid pace that the world adopted a technology once it had been mechanized—in this case: steel.
Prior to WWII, it was the conservative Republicans who had opposed foreign trade and supported protectionism. The Democrats were free traders. By the end of the war, both parties advocated free trade. Liberals like Mrs. Roosevelt generally thought that if there was a strong labor union movement in foreign countries, that would push wages up so the loss of jobs would not be so great. However, there is no low wage country that ever allowed a strong labor movement to flourish, and labor costs have never yet equalized.