Word: coppers
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Dates: during 1970-1979
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...wages. But there is evidence that guidelines and "jawboning" intervention by the White House held down some prices during the Kennedy-Johnson era. Arthur Okun, a member of TIME'S board, figures that prices rose 1.7% a year between 1966 and 1968 for 15 jawboned industries, including steel, copper, autos and aluminum?but that prices jumped 6% in those industries in Nixon's first year. When Nixon made the mistake of proclaiming at the start of his presidency that he would do no jawboning, businessmen and labor leaders took his announcement as a signal to go for all the increases...
Since there is a limit to the money that can be wrung from oil, the government is giving increased attention to the transformation of the southwestern province of Khuzestan into a huge agricultural-industrial complex. In addition, great copper deposits are being mined in the Kerman area of central Iran. A dozen major dams are under construction around the country...
...Ling says, many of his company's nine subsidiaries were hurt by un foreseen events. The economic slow down cut Braniff's passenger traffic, a rise in copper prices hurt Okonite's prof its and the pullback in defense contracts reduced the earnings of both LTV Electrosystems and LTV Ling Altec...
...White House deemed excessive. Nixon has addressed some generalized pleas to labor and management, but he has not defined his guidelines. Neither he nor his advisers have publicly criticized any specific pay or price rises. Last week, for example, steel and gasoline prices were increased, and the price of copper rose for the sixth time in 15 months-yet the White House remained silent. The President said nothing about labor's rising wage demands and threats of nationwide strikes...
...chairman, contends that Nixon has in effect declared "open season" for unions and companies to get all they can. Okun figures that between 1966 and 1968, wholesale prices rose an average 2.3% a year for most industries; they went up only 1.7% in 15 "jawboned" industries, including steel, copper, autos and aluminum. During 1969, says Okun, prices in those formerly jawboned industries rose 6%, v. a 3.5% rise for other industrials...