Word: pensioners
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Dates: during 1970-1979
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Some unions are also pitching in. The United Auto Workers contributed $2 million to a relief fund for miners and their families, and has organized food caravans into the coal fields. The United Steelworkers donated $1 million to retired miners who are not receiving their pension checks. A.F.L.-C.I.O. President George Meany announced a "massive, nationwide effort" to collect food for the miners and their families...
Today, his union's fortunes are dismal. With 194,000 active members, and 90,000 retirees to represent (peak membership: 600,000 in 1946), the U.M.W. is badly wounded. Three of the four pension and medical-benefit trust funds are broke. The union, which owns more than 75% of the National Bank of Washington (assets: $682 million), real estate in the capital and a Western fuel company, may have to sell some of its holdings. Perhaps most troubling of all, the U.M.W. is in a state of near anarchy, having overwhelmingly rejected its leadership's call to ratify...
...more options in the Taft-Hartley Act. I would like to get the miners back to work under conditions other than an old contract, especially if it's a three-year contract and prices have been rising substantially. In the current strike, the union's welfare and pension funds have also been depleted. If the miners are ordered back to work, they are likely to consider it to be unfair, and we have to worry about their response. That's the reason we developed the idea of federal seizure of the mines as a way to compensate...
...dynamic economies, some ruling socialists have taken steps toward encouraging freer enterprise. Britain's Labor government, for instance, is planning to announce efforts to stimulate individual initiative and investment. West German Chancellor Helmut Schmidt has angered the radical wing of his Social Democratic Party by braking the rate of pension increases and halting the planning of new ambitious welfare schemes, like a costly increase in health benefits. To stop a headlong plunge into bankruptcy, Portugal's Socialist Premier Mario Scares has been uncomfortably forced to restore to private ownership farms confiscated after the 1974 revolution...
...basic decision lay in Washington, where the U.M.W. at week's end was studying the latest contract proposals from the mine operators. The main terms: a wage boost of more than 30% over three years and a guarantee of health and pension benefits in exchange for a union labor stability agreement. Some observers predicted that a settlement was imminent, but even if it did come soon, U.M.W. members would still need ten days or more to ratify the contract, and that ratification was by no means certain...