Word: boostings
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Dates: during 1970-1979
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...Government pressure to restrain price increases while spending heavily to comply with antipollution rules, and the industry's first sizable strike (by iron-ore workers) since 1959. Executives have also begun squabbling among themselves. Last week Armco Steel not only refused to go along with an industry price boost of 6% on structural steel, but announced that in the lower Midwest and Gulf Coast regions it would offer deeper discounts: $50 a ton, v. $30 formerly, off the list price of $320. Armco moved to match prices of imported steel, and its action points up the biggest trouble...
...housing, superhighways, express trains, local transportation and sewer systems. To lower unemployment, Fukuda proposes retraining laid-off workers and granting as yet unspecified hiring incentives to employers. In addition, the nation's central bank would lower interest rates slightly to encourage business spending. All that, said Fukuda, should boost the annual growth rate to 6.7% by next spring, from 5.9% forecast currently, ease unemployment and stem the tide of bankruptcies, now running at 1,500 a month...
...unemployment," French President Valéry Giscard d'Estaing last week announced a $1.1 billion infusion of government spending for public works and family allowances, the second stimulative effort this year. Britain's trades unions are pressing Prime Minister James Callaghan for a large "catchup" pay boost and a major expansion program to create jobs. Even wealthy West Germany, which has sorely disappointed the rest of Europe (as well as the Carter Administration) by failing to push very hard on its crucial economic accelerator, may finally be getting ready to apply the gas. Chancellor Helmut Schmidt, worried...
Delays in meeting the complex rules, which must be complied with before building can start, boost costs. Says New Jersey Builder Philip Azzolina: "Two or three years ago, you took the architect's blueprint for a house to the local authority, and while you waited it was approved or rejected. If it was approved, it was stamped on the spot; you then paid the fee and got the building permit. Now you submit the plan, and in some towns it takes a month to get it approved and permission to build. Before a blueprint is passed...
...graduated-payment mortgages" for FHA-insured loans. These would set low monthly payments during the first five years, which would rise thereafter, when the householder presumably would have a higher income. Some lenders are experimenting with such mortgages on their own; federal blessing would give these tests a needed boost...