Word: bonuses
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Dates: during 1960-1969
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...voted by Congress. The average monthly hikes seem modest-$5 for individual recipients, $8 for couples-but they will channel $1.2 billion more into the economy this year and $117 million a month thereafter. Because the increases are retroactive to Jan. 1, each recipient will collect eight months of bonus in one swoop-amounting among couples in the top bracket to a lump-sum extra of $492. Though the average American habitually spends 93% of his income and saves the rest, federal economists expect that some 95% of the social security bonuses will quickly be spent, chiefly on food, clothing...
...highest salaries go to top U.S. executives, who are required by law to report them, along with bonuses and stock holdings. G.M. Chairman Fred Donner leads the list, with a pre-tax figure of more than $800,000 from salary and stock and cash bonuses. In fact, the ten highest-paid executives in the U.S. are all in the auto industry, including Chrysler President Lynn Townsend (salary plus cash bonus: $555,900) and Ford President Arjay Miller ($515,912). Salaries depend, of course, on a company's size and profitability and an executive's responsibilities. Pure pay runs...
...concern that the ship's tape recorder might have gone haywire during part of its historic pass at the red planet. As soon as the eleventh picture came through, JPL monitors knew that all was well. Mariner got all the 21 pictures it went after-plus a bonus: 22 lines of a 22nd picture, which might show the dark edge of Mars...
Died. James Finney Lincoln, 82, Cleveland industrialist, president (since 1928) and board chairman (since 1954) of Lincoln Electric Co. founded by his brother John in 1895, world's largest manufacturer of arc-welding equipment, who in 1934 instituted a program of employee bonus incentives on the premise that "selfishness is the motivating force of all human endeavor," which was so successful in boosting volume and cutting costs that he was able to sell his products for less than any competitor, while giving his employees almost double the money (an average $13,000 annually) paid elsewhere in the industry...
...years it has been able to guess within one-half of 1 % of the vital figure. Not so this year. As the fiscal year ended this week, the Treasury found itself with a puzzling $1.6 billion more than the $47 billion it had estimated it would receive, an unprecedented bonus...