Word: pensionable
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Dates: during 1950-1959
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...with an unknown "caseless" Chicago lawyer named Harold Ickes, he launched the first protest campaign against the shabby stock manipulations of Utilitycoon Samuel Insull. Governor Franklin Roosevelt borrowed Douglas to work on New York State unemployment problems; so did Pennsylvania's Governor Gifford Pinchot. Douglas drafted old-age pension and unemployment-insurance laws for Illinois, worked out the state utilities regulation act. He was a chairman of the board of arbiters for the newspaper industry, made such even-handed rulings that only two of his 40 decisions were ever challenged. He appeared before congressional committees on social security, relief...
...When the pension issue came to a head in October in the 42-day steel strike that idled 500,000 workers, steelmen showed a notable lack of industrial statesmanship. U.S. Steel tried to rally support, as a matter of principle, for its contention that workers as well as management should contribute to pensions. But precedent was against its plea. As far back as 1904, Du Pont, for example, had set up a noncontributory plan; there were an estimated 4,500 other such plans in operation in the U.S. When steelmen finally gave in and guaranteed $100-a-month pensions (including...
Many other industries expanded old pension plans or started new ones, adding millions to the cost of doing business in 1949. The changes did not settle the problem; they did sketch its enormous size. At year's end there were still about 11.5 million unionists without pensions, and union labor hoped to straighten this out in 1950. Part of the cost of pensions was a burden that industry could, and should, bear-if labor's demands were reasonable. But many businessmen also argued for a liberalization of the Federal Government's social-security payments, lest the burden...
...high costs that Lewis had imposed on coal had just about priced coal out of the market. Result: Lewis suffered his first contract defeat in years. Production royalties to his pension fund dropped so low by year's end that payments were stopped. Coal production, which had been close to a peak of 680 million tons in 1947, dropped to about 460 million tons last year. With oil about as cheap as coal (and cleaner and easier to handle), the industry got sicker by the month...
...Inland Steel case and the pension issue was used as the primary example of the NRLB's compulsory bargaining decrees. The Board ruled that pensions should be determined by collective bargaining...