Word: copperizing
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...settlement along those lines would probably be greater than the inflationary contracts agreed to recently in steel, copper and aluminum. Those industries settled for rises in wages and benefits of 30% or more over three years. The miners argue that all the increases provided in their present contract have been eaten up by inflation. Largely as a result of productivity gains, today's 100,000 miners produce more than did the 400,000 men who worked in the industry in 1950. The operators could certainly live with a fat pay increase. Last year the after-tax earnings of seven...
...intention of extending their concessions, which begin to expire in 1983 (see BUSINESS). Peru's left-leaning military junta has already taken over the International Petroleum Co., a Standard Oil of New Jersey affiliate. Socialist Chile has expropriated-with compensation yet to be determined-U.S. copper mines whose worth is estimated at between $500 and $800 million...
Since one out of every six U.S. jobs is directly or indirectly linked to the auto industry, its triumphs could pass along many benefits. Among the principal recipients will be Pittsburgh's steelmen, Akron's rubber firms and U.S. producers of copper, glass and leather. The investment tax credit will probably benefit the construction-steel and excavation-equipment industries to a lesser degree than the computer and machine-tool industries. Reason: with industrial production running at a sluggish 73% of capacity as a result of the recession, corporate planners will be much more likely to use the tax credit...
...guidelines and presidential jawboning held down prices for a time in the 1960s (see box, page 67). Between 1966 and 1968, for example, there were 15 jawboned industries, including autos, aluminum, copper and steel. Prices in those industries rose an average 1.7% yearly during that period, but they jumped 6% during Nixon's first year in office...
...copper settlement, between Magma Copper Co. and negotiators for a coalition of two dozen unions, gives 3,000 Magma workers a 31% increase over the next three years. At week's end some 32,000 workers, represented by the United Steelworkers of America (U.S.W.), were still on strike against other copper companies, but both sides were expected to accept the Magma package...