Word: contraction
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Dates: during 1970-1979
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...contract is a compromise version of one that was aborted last May. Lockheed failed then to meet Canada's requirement that it come up with $375 million to finance initial tooling costs in Canada. Now, with a Saudi order for three TriStar jets also in hand, Lockheed has managed to borrow the $50 million needed to cover reduced startup costs. The Canadian government accepted a later delivery schedule (the first plane will arrive in May 1980) and less instrumentation on board the aircraft, which in Canada will be called the Aurora. Lockheed also agreed to place with Canadian firms...
...have talked surprisingly little about wages. Instead, they have made job security their No. 1 demand, responding to membership wishes. As one rank and filer succinctly puts it: "I got a wife and four kids. If they make sure I keep working, I'll be happy with any contract...
...they are in fact resolved without a strike, the settlement would put the capstone on a bargaining year that lately has been turning out more peaceful, and no more Inflationary, than might have been expected. It started badly: the Teamsters in April settled a three-day strike with a contract that might raise wages and benefits a high 33% over the next three years. Some 60,000 rubber workers hit the bricks in late April and are still out; an eventual settlement is bound to be costly...
...effort is imperiled because two of the nation's most important shipbuilders no longer want to produce ships for the U.S. Navy under present contract conditions. Litton Industries, whose Pascagoula, Miss., shipyard is building radically new generations of gas-turbine-powered destroyers and big helicopter assault ships, has petitioned a federal court in Los Angeles for a ruling that in effect would permit the company to halt construction of the assault ships on Aug. 1. Similarly, the giant Newport News shipyard, a subsidiary of Tenneco, has asked a federal court for permission to stop work on a guided-missile...
...point. The rules and regulations surrounding the contract for a single naval vessel are so byzantine that a truthful U.S. Navy should name a frigate the U.S.S. Franz Kafka. In order to soothe congressional critics, the Navy often insists on an unrealistically low price in the initial contract. Then the specifications for ships and equipment are changed sometimes hundreds of times, causing delays and costly modifications. Navy-supplied weaponry often arrives late, and payments frequently run behind schedule. The amount of paper work involved in shipbuilding is mountainous. Litton has assembled 1½ tons of documentation, made up largely...