Word: man-hours
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Doris Day fans, if there are any left, would be better off waiting for her new situation-comedy series on TV this fall. At worst, it will be only half a man-hour wasted...
Biggest reason for the increased prices was high wage settlements, which added an average 5% to business costs in 1967, while productivity (output per man-hour) gained only 3%. The disparity disturbs businessmen because it portends lower profits, or higher prices, or both. The 5% pattern had been established by the 1966 airline machinists' strike, which buried the Administration's once cherished 3.2% wage-price "guideposts." This fall, 5% became more of a floor than a ceiling. Auto workers won 7% increases from Ford, Chrysler and General Motors; Congress gave 705,000 postal workers a 6% raise (along...
...farmers' problem is their masterful man-hour productivity, a 5.7% annual hike since 1950, v. industry's 2.6%. Despite a pastiche of Government programs to control production and protect prices, farmers continue to grow more on fewer acres through fertilization, mechanization and technology. Freeman indeed takes part of the blame for this year's bumper crop because he trusted all-but-unanimous warnings of impending poor harvests and drastically increased planting quotas, then watched in dismay as ideal weather brought in history's greatest yields-both of food and discontent...
...part, Reuther insisted that wages must "reflect productivity," refused to budge on his money demands unless Ford agreed to turn over to him its figures on output per man-hour. It was largely Reuther's desire to get this information that inspired him to make an eleventh-hour appeal to submit the dispute to arbitration. A three-man panel, Reuther suggested, would impose a binding settlement after taking into account "productivity and profitability," as well as "the equity received by Ford executives and stockholders." Dismissing such considerations as "beyond the scope of collective bargaining," Chief Ford Negotiator Malcolm Denise...
...most of the U.S. economy, output per man-hour increases 21% annually, doubles every three decades. Live performance is not subject to labor-saving breakthroughs-it takes four musicians 40 minutes to play Beethoven's String Quartet, No. 14, just as it did when it was written in 1826. Thus, while wage increases in an industry such as auto manufacturing are at least partially offset by productivity increases, matching raises in performers' salaries, to say nothing of other production expenses, can only lead to higher costs...