Word: cuts
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Dates: during 1960-1969
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...jumbo jets may cut operating expenses about 25%. But before the money-saving giants start taking off, airmen expect damaging labor strikes. The first strikes will probably hit in early August and could force some cancellations of vacation flights. As much as 45% of an airline's operational expenses consists of labor costs. Every additional wage increase would cut closer to the quick. In the longer run, some mergers seem almost inevitable to reduce the problems of climbing costs and too much competition for too little traffic. If the U.S. can get by with only four auto manufacturers...
...despite the 26-month closing of the Suez Canal. In tiny mountain towns of Western Canada, long-unemployed miners are going back to work to dig the coal needed to fill a new $600 million order from Japanese steel mills. Ideologically impartial, Japanese industrialists trade with Peking and Taiwan, cut timber in Siberia and make 70% of the baseball gloves sold in the U.S. Japanese experts are training rice farmers in India, and fishermen in Ceylon, building drydocks in Singapore and generally doing more than U.S. foreign-aid officials to develop the economies of many Asian nations...
...government, which supplies an average of 80% of the capital on which Japanese firms operate. It is also legal for industry associations to make the kind of decisions that U.S. competitors could never get away with. For example, they can determine how much each company in an industry should cut production during a recession...
...these ills, but has had little success coping with high prices, which are caused partly by the consensus system. In Japan, no manufacturer sells directly to a retailer. Tradition decrees that every product pass down a long line of wholesalers, mostly very small, each of whom takes a cut that adds to the price...
...White was dashing among the candidates-a day here with Nixon, a day there covering Romney (remember Romney?), with Rockefeller, with Robert Kennedy, even Johnson-the events that ultimately shaped the election were taking place elsewhere. In Viet Nam, the Tet offensive was finally shattering hopes for a clear-cut American military victory. On campuses across the country, a young political amateur named Allard Lowenstein was meticulously organizing a network of students to a force that would decisively help unseat the President and carve a niche in history for Eugene McCarthy. In cities a continent apart, two maimed minds were...