Word: boosted
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Dates: during 1950-1959
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Before the week was over, Thorneycroft got a chance to prove that he meant what he said. An arbitration board granted a wage boost to 32,000 white-collar employees of the Ministry of Health. The government promptly announced that it would refuse to pay the increased amount. Labor reacted instantly. "This is not the way to industrial peace," thundered Frank Cousins, boss of the Transport and General Workers' Union, Britain's biggest. "It is the way to industrial idiocy...
Aramburu thereupon turned back to fighting the painful inflation that makes politically inspired strikes so easy to call. For the past year labor has been caught with wages frozen while prices spiraled up 34%. Aramburu has stoutly refused to grant a wage boost that would redouble inflation. Instead, he has tried to persuade manufacturers and wholesalers to cut prices by cutting profits. After last week's strike he got strong and unexpected help when the influential Roman Catholic Church issued a pastoral letter that declared "business concerns, have a greater duty to reduce their profits than workers to forego...
...Lorillard (Kent, Old Gold and Newport cigarettes), whose third-quarter earnings were $1.02 a share, v. 22? last year. Pharmaceuticals were also up. Abbott Laboratories' sales for the nine months increased 12%, while profits rose 16%. G. D. Searle & Co. reported quarter profits up 21% on a sales boost of 18%. In the auto industry, General Motors' earnings were off 11%, but Chrysler and Ford both reported huge increases (see Autos...
...brassy. Yet the inescapable fact, as every automan knows, is that flash, dash and dazzle-what automen call style-are the attractions that sell new cars. Those brave enough, and successful enough, to produce startling new styles that catch the public fancy, as Chrysler discovered in 1957, can suddenly boost profits from $6,000,000 to $103 million (and rise from 15.9% to 19.5% of the market) in a single year. Conservatives who fall behind, as General Motors learned in 1957, can see profit figures change from $640 million to $602 million (and tumble from...
Lazy S & Struts. But General Motors does not intend to celebrate its golden anniversary year by losing any more of the market; it spent $730 million (and will boost prices 3% to 5%) to redesign every car with the exception of the Cadillac. To win back its cherished lead, 1958's Chevrolet is all new from latticework grille to gently curving, lazy-S rear-fender lines; all cars are 9 in. longer, 4 in. wider, 2 in. lower, have optional air-suspension ride and a slight horsepower increase to 290 h.p. Two new models: a sporty Impala hardtop...