Word: priced
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Dates: during 1960-1969
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Bigness Has Its Price. Thomas Jones Woodward, son of a coal miner, had an inauspicious start in his home town of Pontypridd, Wales. Trying to stay out of the mines as a youth, he chose instead to crowbar his way into movies, drink with the boys and fight in the streets. That was a far cry from his younger days when his mother would take him to the women's guild or the grocery store to warble popular songs like Ghost Riders in the Sky. Tom had to answer for every song to the fellows in the back alley...
...make matters worse, wages are rising much more rapidly than workers' productivity, as measured by the Commerce Department. As a result, labor costs per unit of output are climbing steadily. Manufacturers are compensating by raising the prices of their products. Thus, even large pay raises have yielded little if anything in added purchasing power. During the last three years, in fact, the purchasing power of the average U.S. worker has done no better than hold steady. Union leaders now feel that they must push for giant wage and benefit increases to keep their members ahead of price boosts...
...policy of protecting the nationalized coal mines. BSC is not allowed to import low-cost foreign coal, and purchases of foreign oil are taxed extravagantly; as a result, steel's fuel bills are excessively high. To pay them, and the costs of modernization, Melchett proposed steel price increases totaling $128 million a year...
...depletion allowance enjoyed by wildcatters, along with other drillers. Costs of drilling a well in Texas have risen 28% since 1959 and, as oil near the surface has become depleted, crews have had to go three times as deep for almost the same returns. Meanwhile, the wellhead price of oil has risen hardly at all. Partly because of climbing costs, the number of wildcat wells drilled has declined from 16,200 in 1956 to 8,900 last year. While many other countries are sharply increasing oil production in 1969, U.S. output is expected to rise only...
...slim, and each manufacturer predicts sales of 700,000 trucks this year. Ford tops its line with the sporty Ranchero, while Chevrolet counters with the El Camino. A long list of options includes air conditioning, power steering, automatic transmission, wooden steering wheels, bucket seats and high-performance engines. The price of a dolled-up pickup can approach $5,000, and the cost of the piggyback camping unit that slides into the truck bed can add another...