Word: contraction
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Dates: during 1970-1979
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...makes $10,898, while a Government clerk in a roughly similar area starts at $8,500. Most remarkably, if postal workers were paid at the same rate as Government employees, there would be no postal deficit at all this year. Moreover, postal employees have also written into their 1973 contract something quite unusual: a guarantee against their being laid off, a quid pro quo supposedly for their pledge never to strike. That promise, however, has not prevented them from threatening to strike when their present contract expires on July...
...Last spring the Saudi Arabian government signed a $72,400 contract with a consortium of five Midwestern universities calling for U.S. professors to act as consultants to the new University of Riyadh. The consortium -made up of Indiana University, Michigan State University and the Universities of Minnesota, Illinois and Wisconsin-then submitted a list of 30 faculty members as candidates for the trip to Riyadh. The Saudis selected ten; among those eliminated were the only Jews nominated, two professors at Wisconsin...
LeMessurier said that the policy of the Saudi Arabian government was "taken seriously" before the decision to accept the contract was made...
Morale Crisis. TWA's troubles began reaching the acute stage in November 1973, when 5,200 flight attendants struck, mainly for higher pay, and management stubbornly took a six-week walkout before signing a new contract for a 13.5% two-year wage and benefit increase. Ever since, the morale of flight attendants, a critical factor in marketing, has suffered, and TWA has never regained its prestrike share of the air-travel market. Lately, with Wiser in charge of operations, management has asked pilots, whose average salary is about $40,000 a year, to take a 10% pay cut, pointing...
...some countries-even those with strict laws against bribery-questionable practices have become institutionalized. Saudi Arabian law has stern penalties for bribe takers, yet some American executives say that any company seeking a Saudi contract must count on adding 10% for graft to the stated price. One U.S. executive tells of paying $3 million in bribes to win a $7 million contract in Iran. In Indonesia, the President's wife, Ibu Tien Suharto, is widely known as "Ibu Ten Percent" for the rake-offs she has reportedly demanded from businesses operating there. The South Korean government lately has openly...