Word: offsets
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...expire in April. The militant union has conducted eight major strikes since 1960; the last, in 1976, dragged on for 141 days. Another next year is likely. Still, the union's demands focus on job security rather than wages, and the cost of the settlement could be partly offset by changes in work rules...
Nonetheless, Neto says he is anxious to expand diplomatic relations. Angola is looking for Western financial and technological help, both for economic reasons and to offset its dependence on East bloc aid. In his talks with McGovern, Neto stressed his desire to improve relations with Washington. Why, he asked the Senator, does the U.S. continue to maintain diplomatic relations with Ethiopia, which has a large Cuban cadre, while refusing recognition to Angola because of the Cuban force on its territory? McGovern told newsmen, "I didn't have an answer for that...
...biggest battles will rage over defense and social welfare spending. Together, the Pentagon and Health, Education and Welfare take about 60% of the budget. OMB is recommending defense spending of $122 billion, an increase of just under 9% from current levels and therefore not enough to offset inflation, which has been running at 91/2%. A defense budget of that size would not honor Carter's NATO pledge of last spring to increase U.S. defense expenditures by 3% above inflation. Last week, however. Carter repeated that promise, suggesting that he could end up overruling the recommendation of his own budget advisers...
...matmen had hoped to dominate the UNH team in the lower weight classes (118-150 lbs.) to offset the anticipated tough matches in the heavier classes. However, Rich Corrado and Keith Oberg, wrestling at 126-lb. and 142-lb. respectively failed to win their matches...
...West Coast. Still, Peking wanted the hard dollars that an oil sale would bring, and the terms of the Coastal States deal were made more attractive than the previous contracts offered to the other companies. The price is believed to be far enough below OPEC levels to offset higher shipping costs. In addition, Coastal States was given a chance to buy some of China's limited production of low-sulfur, higher-quality crude, which not only is in short supply around the world but also is especially attractive in the environmentally strict California market...