Word: holding
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Dates: during 1970-1979
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...even with the decline of the dollars they hold in such abundance, OPEC nations might not have agreed to such a large price increase if Iranian production had not been disrupted. When rebellion broke out there in September, output fell from 6 million bbl. a day to less than half a million. Though Saudi Arabia tried to fill the gap with its own surplus, that did not suffice. "The drop in production in Iran was the important factor in the price boost," says a U.S. Treasury official. "The Saudis are able to hold off the price hawks as long...
Despite the two experts' testimony, there is no evidence that any gunman on the knoll hit Kennedy and no evidence of who such a gunman might be. The baffled committee members, under a deadline to complete their probe by the end of the year, decided to hold public hearings on the new disclosures this week and will probably turn over their findings to the Justice Department...
...Shah's determination to hold on puts him at odds with some of Washington's present thinking on the subject. For decades the U.S. has supported the Shah as a defense against Soviet expansion in a region of strategic importance. There are firm reports that Foreign Service officers based in Iran have long been prevented by Washington from building close contacts with Iranian opposition leaders, lest this offend the Shah. President Carter still says publicly that the Shah deserves full American support, but there are signs that the Administration's emphasis, as a ranking U.S. diplomat puts...
...year's tidal wave of labor negotiations. Even before the President announced his program of voluntary wage-price restraints, the 1979 bargaining calendar looked rugged. Next year, contracts covering 3.7 million workers expire, compared with roughly 2 million in 1978. In an era when industry is struggling to hold down costs and union members have seen inflation eating up their wage gains, the stage is set for confrontation. Says John Gentry, labor relations adviser to Alfred Kahn, the nation's top inflation fighter: "Adding the guidelines to that lineup can only make bargaining more difficult...
Crucial, too. For the moment, industry officials are going along with the price guideline, which calls for companies to hold price boosts half a percentage point below the average for 1976-77. But their compliance is not likely to last if unions push wages and benefits up beyond the 7% a year average permitted by the guidelines. Says one Administration official: "Ninety percent of the program will depend on holding down wage increases." Gentry adds: "Companies can agree to abide by the program now and always raise their prices later if things go bad. But a union that takes...