Word: billings
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Dates: during 1970-1979
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Last week the Senate Banking Committee upset the carefully stacked apple cart when it voted 10 to 5 not to approve the Administration's bill. That would have given $1.5 billion of federal loan guarantees, if the company managed to raise a similar amount of nonguaranteed loans. Both liberal Democrats and conservative Republicans on the committee concluded that this plan was too soft and generous; it did not ask for any specific financial sacrifice from workers, dealers, suppliers, shareholders and bankers...
...committee instead wrote and approved a much tougher bill. It offers Chrysler federal guarantees of $1.25 billion and demands, as a firm precondition, major concessions from all who stand to benefit from the company. It also seeks the creation of an employee stock ownership plan, which some Senators are promoting as a way to give workers a stake in their firms and share in profit growth. But, following Inflation Fighter Alfred Kahn's earlier attack on the "outrageous" United Auto Workers' wage settlement with Chrysler, the committee's most contentious call was for a three-year wage...
...bill now goes to the full Senate, where it will face some fierce lobbying. Douglas Fraser, the president of the U. A.W. and a director-elect of Chrysler, protests that a wage freeze is ridiculous. Still, the freeze seems to have a good chance of passing. Even if it fails, the Senate bill will differ markedly from the Administration-designed aid package soon going before the House. There is not much time to resolve the differences. Congress aims to recess by Dec. 21, and probably will not convene before Jan. 22. Chrysler has warned that if it does...
Flatt's first shot hit the front of the rim, seemed to hang there for a second, and fell away. Fordham took the rebound and moved the ball quickly upcourt, where Bill Calhoun tied it at 68 and forced the first extra period on a layup with six seconds to go. Harvard called time out but couldn't get off a shot in five seconds...
While coach Bill McCurdy expected these performances, the unexpected once again turned the meet into a laugher. For the second consecutive week, the Crimson caputed two places in the pole vault, proving that although Dave Randall (first with 12-ft 6 in.) and Greg Froehlich (tied for third with 11 ft.) aren't Geoff Stiles, nobody else around here is, either...