Word: nationalizers
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Dates: during 1960-1969
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...nation's 63,000 airline mechanics are a cantankerous lot, with far greater power over the U.S. economy than their numbers would suggest. Three years ago, they struck five carriers for higher wages, and Lyndon Johnson entered the dispute. The President helped end the six-week-long transport tie-up by telling the nervous airline negotiators that he wanted a settlement regardless of the inflationary effects. The machinists finally agreed to a munificent increase averaging 5.7% a year for three years, thus pulverizing L.B.J.'s cherished 3.2% guideline for wage and price hikes. Afterward, wage boosts...
Negotiations are deadlocked at six of the nation's nine major airlines. Eastern and four other companies have asked the National Mediation Board to move in, but so far it has agreed to do so only at National Airlines, where I.A.M. members have called a wildcat strike. The mechanics gained some attention for their dispute last week by disrupting the National-sponsored invitational golf tournament in Miami. A union-hired plane trailing a banner that proclaimed "Don't Fly N.A.L." circled the course. Several strikers invaded the 17th green, traded blows with police and had to be bodily...
...average tenure of seven years, which is a long time by Madison Avenue standards. Thompson has increased its billings by 36% in the past five years. In 1968, they went up a record $47.6 million-more than the total billings of all but the top 30 of the nation's ad agencies...
...become wealthy." For decades, major U.S. industrial and financial corporations ignored the Field formula, leaving the business of real estate largely to its own local operatives. Now the trend is running the other way. So many huge companies have been expanding into real estate and building that the nation's largest industry, construction, is undergoing a remarkable change...
Insurance companies have entered building to loosen their historic ties to a fixed return on investment; the old policy has lost appeal because of inflation. Last month, Chicago-based C.N.A. Financial Corp., a major insurance combine, agreed to acquire Los Angeles' Larwin Co., the nation's largest privately owned home-building concern (1968 sales: $50 million). The price: $100 million in C.N.A. stock. Prudential Insurance recently bought a half interest in southern California's Westlake Village, a new town being built by Shipping Magnate Daniel Ludwig...