Word: pension
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...street and eat them. Soon afterward, he says, he found a weeping Chicano family that had been cheated of its wages. "The next thing you know," he muses, "I had them on my hands and began scrounging for them. One thing led to another." Ferree lives on a meager pension he receives from his World War I service in the Signal Corps. What will happen to his charges when he is gone? "Maybe somebody will take it over, maybe not," he says. "I don't think about that. I worry about one cleft palate and one hungry stomach...
PATERNALISM. Du Pont pensions may be revoked even after retirement for "any activity which is harmful to the interest of the company." Governor Peterson got a written exemption, the report says, in case he had to act in office against Du Pont. What is more, adds the report, the company has fired employees who sought to bring in a national union. Shapiro says that in 30 years the pension revocation clause has been used in three cases, all involving salesmen who took customer lists to competitors. The company contends that it treats its employees so well that they have felt...
...favored candidate. Or a corporation may donate supplies or the use of an airplane to a candidate. Labor unions are not allowed to contribute members' dues to campaigns, so they set up separate funds to finance candidates. The National Marine Engineers Beneficial Association hit on making its pensioners pay for political campaigns. Each month, $10 is "voluntarily" deducted from every pension check and put into a fund that has become the largest single contribution to the AFL-CIO's Committee on Political Education...
...public expectations in highly exaggerated form, but there is usually enough reality underlying the distortions so that it cannot be ignored. This is especially true now that the market affects the wealth of 100 million Americans, who have at least an indirect stake in stocks through mutual funds, pension funds and insurance policies. For the past three weeks, the market has been projecting a mood of deep nervousness. By last week, eleven straight daily declines had dragged the Dow Jones industrial average down to 836, a fall of about 85 points from early September and near the year...
...Boyle did not call a walkout, the 80,000 UMW members, following the "no contract, no work" tradition, walked off their jobs anyway. The union wants daily wages increased from $37 to about $50, a doubling of the 40? per ton "royalty" that the operators pay into the union pension fund, paid sick leave and increased medical benefits. The biggest complication is the confusion caused by the freeze and the controls that will follow it. The owners do not know how much they can increase their prices; the union is not sure how large a pay increase the Government will...