Word: bonuses
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Dates: during 1960-1969
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...year-end bonus of cash is not as popular as it used to be, partly because of labor's taste for bigger contractual fringe benefits and partly because of management's growing preference for more sophisticated executive incentives. Even so, the Bureau of Labor Statistics figures that U.S. manufacturers are paying production workers more than $600 million in year-end bonuses this season. Many millions more will go to executives and office help in such places as Detroit, where auto vice presidents often get bonuses equal to twice their salaries, and Wall Street, where 1964's record...
Next week, Merrill Lynch, Pierce, Fenner & Smith Inc., the nation's largest stockbrokers, will pay a record $9,700,000 cash bonus to 8,650 employees, 22% more than a year ago and an average of $1,121 each. Their checks will range from a flat $75 for employees with six months' to a year's service up to 14 weeks' pay for 20-year veterans. Elsewhere across the U.S., year-end fiscal cheer varies from the $10 Philadelphia Electric Co. gave its 9,300 nonexecutive workers to the average of $375 that Scio Pottery...
...companies have enjoyed greater success with largesse than Cleveland's Lincoln Electric Co., the world's largest maker of arc-welding equipment. With its sales up nearly 15% this year to $100 million, Lincoln distributed a $12.8 million "incentive bonus" to its 1,582 employees. That makes an average of $8,190 per employee and sets a record even for a company that has dispensed $126 million in bonuses over 31 years. Lincoln's chairman James F. Lincoln, 81, credits the bonus-which lifts his typical employee's annual income to $13,000-for everything from...
Come to Play. A prodigy from the backwoods of Ontario, Hull signed his first pro contract at 14 (for a bonus so small that "I'm ashamed to mention it now"), cracked the big leagues in 1957 at 18. Since then, he has led the N.H.L. three times in goal scoring, twice in total points (goals and assists). The marks of his trade show on his face; it is crosshatched with scars, and his two front teeth are gone. But Hull has missed only eight games in his career because of injury. He scored eight goals...
...bidding for Rhome will probably start somewhere around $20,-000 for a bonus-which is more than the Jets apparently want to spend. Last week they gave Houston their rights to Rhome in return for a draft choice Jets Coach Weeb Ewbank did his best to explain the decision: "I'd have to say that the boy is accurate in the 10-to 15-yd. range," he said. "But I can't tell you whether he can throw long." Then, too, Rhome is only 6 ft. tall: "He might be too short for the pros." Only a cynic...