Word: labor
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Dates: during 1960-1969
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There is less reason for optimism about prices. High wage demands are certain, a tax increase a possibility. Corporate profits are expected to grow, but at the slowest rate since 1961. Johnson appealed to both labor and management to avoid a "disastrous" chain reaction of wage-price rises, while the CEA put most of the onus on business: "The public interest requires that producers absorb cost increases to the maximum extent feasible." At least 700 union contracts are up for negotiation this year; the outcome can only be guessed...
...nationalization of Britain's steel industry has long been an emotion charged shibboleth for British socialists. Clement Attlee's Labor government succeeded in taking over the industry in 1951 - only to be driven from office eight months later, partly because it had muddled the steel industry so badly. The Tories put most of steel back into private hands. When he took over as Prime Minister in 1964, Harold Wilson tried to renationalize steel with his thin majority, but retreated when he saw how perilous ly close the vote would be. Last week, with a healthy majority assured since...
...People's National Party, denounced the snap election as a "rape of democracy," since candidates would have only three weeks instead of the customary six in which to campaign. The politicking got off to a turbulent start when toughs at a rally of Bustamante's Jamaica Labor Party began tossing rocks and hit the Minister of Development and Welfare on the head. The politicking is also apt to get pretty turbulent within Bustamante's own party, where a four-way fight is shaping up to pick a successor to the old man as Labor Party leader...
...country's basic fabric. When General Anastasio Somoza Sr. seized power in 1936 and launched his dynasty, Nicaragua was a typical down-at-the-peels banana republic. Though he dealt ruthlessly with critics, sometimes having them tortured, the general organized a social-security system and a labor code, built Central America's best road and hospital systems and brought the country its first real economic and political stability. When he was assassinated in 1956, his oldest son Luis took over, later putting power in the hands of two successive puppet Presidents. This year Tachito decided...
Westinghouse Electric, which faced tough labor negotiations, strikes and a big wage hike last fall, came through the fourth quarter with earnings down 3.5% despite rising sales. But that only slightly spoiled a record year of profits, which were up 12%, to $120 million. With heavy orders for nuclear generating plants, defense and space equipment, President Donald C. Burnham expects to spend half again as much on expansion as last year's $110 million. - Jersey Standard, the largest oil producer, ended the year with profits up 5.2%, to $1.1 billion, despite a squeeze that forced fourth-quarter earnings...