Word: newely
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Dates: during 1960-1969
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...companies, which are normally major buyers of bonds and mortgages, are being drained of cash by loans that they must make to policyholders who cannot get credit so cheaply elsewhere. But the bond-mortgage slump reflects even more the ravages of inflation. Corporations, for example, are hurrying to build new plants before construction costs rise even further (see following story), and are selling huge quantities of new bonds to raise the cash. This month U.S. corporations will try to market $1.2 billion worth of new bonds, their heaviest December financing in history...
...lead lifted their prices by 1/2?per Ib., to 16?, the sixth increase this year. Almost immediately, General Battery Corp. said that automotive and industrial batteries, which contain much lead, would go up. 5%. The higher lead prices reflect greater world demand for the metal and a paucity of new supplies...
...contributes to labor peace through selective intervention to aid the unemployed. Sweden's National Labor Market Board has a highly honed intelligence system to warn of impending layoffs in plants. Often, the board establishes an employment office on the spot to arrange to retrain workers and find them new jobs. It pays the travel cost of interviews for job seekers, as well as moving expenses and family allowances, plus a $130 bonus for each worker, just to raise his morale. Says the board's deputy director general, Bertil Rehnberg: "If we did not assist people to adjust...
...time to prevent the walkout. If the strike occurs, however, President Nixon will probably have to break his pledge to keep hands off union disputes and request special legislation to settle the walkout. Whatever the outcome, the U.S. has reason to be uneasy. Unions will have to negotiate new contracts for some 4,000,000 workers next year-in what seems certain to be a climate of business slowdown, profit pinch and continued price boosts. That is about the worst imaginable climate for labor peace...
Every two or three years in Sweden, representatives of labor and management negotiate an umbrella agreement, setting the rates for wage increases across the country. The terms are then written into detailed contracts for each industry. New contracts negotiated last June provided for an increase of 6.5% during the first year, plus another 3.5% the second year. One reason why employers can afford such increases is that the LOs enthusiastically cooperate in raising productivity, which in Sweden alone has gone up at an average of more than 7% a year during the 1960s...