Word: hiked
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Dates: during 1950-1959
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...statisticians, supernumeraries and just plain hangers-on that the cost to management and labor was estimated at nearly $25,000 a day. President Eisenhower tried to set the tone for negotiations by warning again that both sides must show "good sense and some wisdom" to avoid an inflationary wage hike (see NATIONAL AFFAIRS). But both sides had hardly started negotiating when they fell to battling...
Furthermore, Cooper had an answer for Steelworkers Union President David Mc Donald's claim that a wage hike carved out of profits or dividends would add new purchasing power to the economy. The stockholders, said Cooper, need the money worse than the workers. He cited a 1953 survey which showed that 53% of U.S. Steel individual stockholders had an average annual income from all sources that was actually less than the average annual income of the Steelworkers...
...industry angrily disagreed. Chairman Avery C. Adams of Jones & Laughlin said that from 1940 to 1958 the industry's labor costs per man-hour increased 298%, while its shipments of steel products per man-hour increased only 30%. Thus, every recent wage hike kicked off a steel price boost (see chart). Adams and fellow executives contended that profits are still "inadequate" to support a wage hike. Even at last year's relatively high levels, steel's profits-to-assets ratio ranked 27th among the nation's 41 key industries. The "obvious" solution to wage-push inflation...
...copy price from 5? to a dime. The Chicago Tribune now offers bargain advertising "zone rates" to hold fringe accounts, such as the corner grocer, who neither wants nor will pay for a citywide broadside. In Pasco, Wash., Sears, Roebuck began distributing handbill ads rather than accept the latest hike in ad rates. Moreover, newspapers, which once enjoyed a hefty 45% of the advertising pie, must compete with television. Last year alone, TV's portion rose 1% to 13% of the pie. The newspapers' 1958 share...
...demand in deference to industry's effort to improve profits. Last week the Senate antitrust subcommittee, headed by Senator Kefauver, held hearings on a bill introduced by Senator O'Mahoney to require companies in highly concentrated industries to give 30 days' advance notice of any price hike...