Word: carterized
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Dates: during 1970-1979
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...Before they gathered for their regular monthly meeting, he had received a call from Treasury Secretary G. William Miller, who told him that the suffering No. 3 automaker was going to get the Government aid that it had been seeking since August. Nor would the assistance be chintzy. The Carter Administration had decided to back a federal loan guarantee of $1.5 billion, which was twice what Miller had indicated he would support only last September and a full $500 million more than the company had asked for in the first place. As a result of a confluence of economic...
...Carter pledge came after months of pleading from Chrysler executives that without a quick infusion of cash the company faced not just more losses and heavier layoffs but perhaps even a bankruptcy followed by a shutdown that would further weaken the nation's economy. That, plus the fear of having to campaign for renomination at a time when Chrysler plants might be closing for lack of operating capital, is what finally prompted the Administration to set aside any philosophical doubts about such a bailout and back a big loan guarantee...
...Carter is flirting with no-standard standards...
...Carter Administration's efforts to devise another wage guideline to replace one that nominally expired Oct. 1 led to a poignant business-labor standoff last week. The White House in September had hailed the new 18-member Pay Advisory Committee as part of a ''national accord" on wage policy that would mark a healing of the rift between the President and organized labor. When the committee's first working session took place, however, all the problems of proper compensation in a period of 13% inflation burst open...
...standard has nonetheless helped moderate many salary agreements. In the past year most workers, especially nonunion ones, have settled for pay hikes close to the 7% standard. Wage increases in major union contracts actually declined overall from last year's 8.2%, to 7.5% from January through June. Carter's chief economic adviser, Charles Schultze, hails this as "one of the truly unreported stories of the year...