Word: contraction
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Dates: during 1970-1979
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...contribution from Chrysler's workers. Although its blue-collar employees have already agreed to forgo expected wage increases amounting to $203 million in the next three years, Congress insists that an extra $259.5 million be cut. This will force Chrysler and the United Auto Workers to renegotiate the contract that they concluded in November. Said Senator William Roth, the Delaware Republican: "Our proposal would have to be ratified by the workers. Ultimately, it is up to them." White collar employees will also be hit; their wage packages are to be trimmed by $125 million...
...sounds when he threatens us," jeered Iran's tempestuous Ayatullah Ruhollah Khomeini. "The noises he makes are similar to those of a frightened lion, who does three things: he roars in the hope of frightening off his challenger, he makes rude noises because fear causes his muscles to contract, and he sways his tail in hopes of finding a mediator...
Faced with all this, Hannon stunned the city, and the eleven-member school board, by handing in his resignation. The board had just renewed his four-year contract in September, but he was "tired," he said. He proposed a dramatic $70 million budget cut requiring the elimination of 1,700 jobs and the scaling down of programs for the disadvantaged. Two days later longtime School Board President John Carey also resigned, and left town on vacation, offering no explanation. After lengthy meetings with Mrs. Catherine Rohter, Carey's replacement as school board president, two of Hannon...
Roderick was openly pressuring the United Steelworkers (U.S.W.), whose contract expires next August, to moderate wage demands and become more productive. The domestic industry still leads its major foreign competitors in productivity. In fact, it is doing considerably better than European rivals, who also suffer from aged plants and surging costs. But the Japanese are rapidly gaining in the productivity race. They earn less but produce almost as much steel per worker as their American competitors. Over the past decade, productivity growth in the domestic industry has declined from 3% a year to 2%, while wages and benefits have risen...
...fear of strikes every three years when the union contract came up for renewal that led steel customers to buy still more imports to hedge their supplies. But when steel imports rose from a 13.4% share of the domestic market in 1975 to 17.7% in 1977, the Carter Administration imposed minimum or "trigger" prices for imports based on a complex formula. Imports have fallen off to 14% in this year's first nine months, and the trigger price was reduced 1% to $347.55 a ton for the third quarter. But with the yen weakening almost 23% against the dollar...