Word: paye
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Dates: during 1960-1969
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Hearst has accomplished exactly what he set out to do: break the local unions. Even before the American Newspaper Guild and the Machinists' Union struck for modest pay raises last December, Hearst had 150 out-of-town strikebreakers on salary, waiting in local motels. His concern was not salaries but union resistance to automation. He had powerful local support from the beginning. Otis Chandler's nonunion and increasingly automated Los Angeles Times, a bit beset by federal antitrust action, feels more comfortable with a rival around. For a time, it helped Hearst print his strike-bound paper. Mayor...
...least $7,000,000. Hearst was forced to lower his ad rates, probably losing another $7,000,000. But by cutting its staff from 2,200 employees to 1,200, the paper saved about $4,000,000. The net loss, after adding the cost of vandalism, severance pay and guards' salaries, was about $15 million. Since the Herald-Examiner has been making some $15 million-a-year profit and since circulation, ad linage and ad rates are all starting to rise again, Hearst might even wind up slightly in the black this year, despite the strike...
...work at odd jobs only two days a week and therefore qualify for strike benefits, which have cost the unions $10,000 a week (pressmen get a minimum of $25 a week, printers and mailers $103). The other 400 have taken full-time jobs, many at smaller newspapers, where pay is often lower than at the Herald-Examiner. Affected families display signs in their home windows: HEARST HURTS THIS HOUSEHOLD...
...services before the value of the dol lar declined still further. All this only stoked inflation, and led to an abnormally steep demand that may cause an abrupt contraction on some less lucky tomorrow. As usual, some of the worst victims of inflation were the poor, who had to pay more for everything and lacked either the resources or the sophistication to invest in property or paper with a rising value to offset price increases. Clearly, one of Richard Nixon's first priorities must be to slow the inflation without starting a recession, whose first victims would also...
When Congress finally got around to enacting the surtax at midyear, much of its effect was washed away by another big factor. While taxes went up, wages went up much faster. During the year's first nine months, about 3,400,000 unionized workers won pay raises averaging 7.5% annually, the largest gain since the Labor Department started keeping track 14 years ago. For the year as a whole, wages and benefits rose about 7%, while productivity increased only 3.2%. The result was that so-called unit labor costs jumped 3.8% -and the consumer had to pay...