Word: catchup
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...pact is ratified by union members, it will face one more hurdle: the Pay Board. The agreement's average yearly increment of 23% is four times the board's 5.5% guideline. Union and company bargainers are hopeful, however, that the board will consider the package a "catchup" settlement and allow it to stand. Bridges' men have not negotiated a raise since...
...Board's business members into seeking labor peace at a high price. They have approved a wage raise for coal miners nearly three times as high as Phase IIs 5.5% guideline, and most members seem likely to take a permissive, placating view of labor's "catchup" demands in the shipping, aerospace and railroad industries. By the same inflationary token, most of the increases granted by the Price Commission have been above the 2.5% overall average set for price hikes...
...office should be set up, headed by a single presidential appointee and staffed by men of the President's choosing. They would draft and implement a firm set of principles on wages and prices. They would have a set of standards to distinguish between so-called 'catchup increases' and new inflationary increases." KERMIT GORDON, former member of the CEA (1961-62). "I am opposed to mandatory controls, but I do feel that wage-price guideposts are a necessary part of any well-balanced economic policy designed to deal with inflation." JOHN P. LEWIS, former member...
...phrase "catchup increases" is being heard more and more these days in labor negotiations. Inflation has eaten away at the dollar so relentlessly that workers are demanding retroactive cost of living increases just to keep even with rising prices. Last week high settlements in the telephone and copper industries and in the postal service continued the trend. And there is little doubt that the philosophy of catching up is playing a major role in the steel talks that are now under way to replace the industry's current labor contract, which will expire this Saturday...
While court action temporarily prevented the Times from publishing more of the Pentagon papers, its rivals were playing catchup. The Washington Post and Boston Globe front-paged other parts of the study. They too were stopped by the courts. "I would have felt left out," said Globe Editor Thomas Winship, "if the Government hadn't moved against us." Later, the Los Angeles Times, Chicago Sun-Times, St. Louis Post-Dispatch and the eleven-paper Knight chain turned up still more details. So many papers were printing Pentagon pieces that Editor Kenneth MacDonald of the Des Moines Register lamented...