Word: major
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Dates: during 1970-1979
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...State aid: about $250 million, representing various financial schemes now cooking between Chrysler and the seven states where it has major operations. For example, the state of Michigan plans to mortgage Chrysler's Highland Park headquarters for $150 million...
...United Automobile Workers have mangled the 7% pay guideline in the contracts they have won this year, the standard has nonetheless helped moderate many salary agreements. In the past year most workers, especially nonunion ones, have settled for pay hikes close to the 7% standard. Wage increases in major union contracts actually declined overall from last year's 8.2%, to 7.5% from January through June. Carter's chief economic adviser, Charles Schultze, hails this as "one of the truly unreported stories of the year...
Brookings Institution Economist Arthur Okun has a "nightmare vision" of a major employer without company-wide unions such as IBM or Du Pont announcing some day that it was starting cost-of-living allowances in order to "keep the union organizers off their front lawns." Okun warns that if such automatic inflation pay increases spread into nonunion firms, "you can mark that on your calendar as a black day for fighting inflation...
Carter's latest episode of rhetorical overkill may have won him some election campaign points, coming when oil companies have been announcing unexpectedly high profits. Last week, following reports by other major oil companies of large third-quarter profit boosts, including Exxon's 118% rise to a record $1.1 billion, the Standard Oil Co. of California announced a quarterly gain of 110%. Ten of the largest U.S. oil companies showed third-quarter gains averaging...
...Knighted hi 1975, Sir Victor is generally regarded as the best literary journalist working both sides of the Atlantic. His two-volume autobiography, A Cab at the Door and Midnight Oil, are quiet marvels of English prose and self-appraisal, and his stories have accrued into a body of major work...