CHAPTER 7 A Change of Course THE 1950s, as the world recovered from the ravages of World War II and adjusted to the realities of the Cold War, the industrial economies of the so-called “Free World” craved everincreasing quantities of minerals and fossil fuels. In addition to the insatiable needs of the arms race, the domestic demand for durable goods such as automobiles and televisions, and energy to power them, pushed a burgeoning industrial machine to new heights. In the United States, for example, the gross national product nearly doubled between 1950-60 to one-half trillion dollars. Americans enjoyed economic growth during the 1950s that averaged more than 4 percent annually, as real wages rose during the decade by 30 percent. Other industrial nations were experiencing similar good times. As a result, companies in a position to enter into the mineral and energy extraction business had a very good chance of making a lot of money. Fully comprehending this opportunity, leaders of the Utah Construction Company determined early in the decade to focus increasingly on mining. Significant changes in management combined with this new resolution to galvanize the company’s strength and sense of purpose. Extensive new operations brought forth copper, coal, uranium, and oil, as well as iron ore, until, in 1959, the company changed its name to Utah Construction & Mining. As profits from domestic and foreign mining ventures rolled in, leadership began to catch a glimpse of the company’s 105