Word: contraction
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Dates: during 1940-1949
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Fairless blew off like a Bessemer converter. Did Murray think he could take him by the nose and lead him to a contract? Promptly and plainly he told Murray off. He would negotiate, but with no commitment in advance to accept anything. That was the basis on which Fairless had agreed to meet with the fact finders in the first place; the board itself had reiterated that details should be worked out in company-by-company bargaining. If that didn't suit Murray, then a steel shutdown would be on Murray's head. Up to that point Fairless...
...saying that a pension and welfare plan financed entirely by management would set a precedent, Ben Fairless was not on firm ground. Murray's union already had a number of noncontributory contracts among some 400 pension and insurance agreements with the steel industry and metal fabricators. Bethlehem Steel and Jones & Laughlin had been paying the full cost of pension plans for more than 20 years. Fairless' U.S. Steel itself had been an important party to the royalty-pension contract which operators of soft-coal mines had signed with John Lewis (see below). A steel spokesman said: "The Government...
Strategic Errors. That was John Lewis' way of repairing some grave errors in his own strategy. When the miners' contract ran out nearly three months ago he had modified the traditional "no contract, no work" policy by ordering all his soft-coal miners east of the Mississippi on a three-day week. But that strategem had fizzled...
Then a sizable bloc of Southern operators, led by Island Creek Coal's President James D. Francis, dusted off John Lewis' own terse dictum, tailored it a bit and tossed it back in his face. Their message: "No contract, no royalty payments." The Southern operators, who produce 40% of the nation's coal, cut off their 20?a ton payments to the U.M.W.'s $90 million-a-year welfare and retirement fund...
...that stood between Gonzales' goodbye to amateur tennis and his hello to the pros was his signature on a ready & waiting contract. Next month, Pancho is scheduled to begin a professional tour in Madison Square Garden with Big Jake Kramer as his opponent and little Bobby Riggs (who plans to be just a part-time player) as promoter. The deal calls for Pancho to pocket 30% of the gate, against Kramer's 25%. The $50,000 or so he expects to make in one quick shot dwarfs any amount he could make in years of wrangling and ducking...