Word: ratings
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Dates: during 1960-1969
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...September, the Civil Aeronauties Board changed the formula for determining air fares to a system based on rate per miles travelled, which went into effect October 1. The rate per mile goes down as the number of miles covered rises. Therefore, under the new system, it costs two dollars less than under the previous system to fly from Boston to San Francisco, but five dollars more to fly from Boston to Washington...
...this year than during the same period a year ago, and Chrysler is about to lay off some of its 40,000 white-collar workers to reduce costs. A. W. ("Tom") Clausen, vice chairman of the Bank of America, predicted last week that banks will cut their prime rate from the present record 81% early next year, or perhaps even sooner. Walter Heller, the former White House chief economist, maintains that "inflation has probably now passed its peak of intensity...
Behind all the maneuvering is the scheduled airlines' growing fear of the increasingly popular cut-rate charter lines, which offer high-season round-trip Atlantic fares for as little as $150. The scheduled carriers are particularly disturbed by abuses of the "affinity rule," which decrees that only members of bona fide organizations can take charter flights. Recently, a group calling itself the "International Order of Old Bastards" arranged a charter trip from the U.S. to Mallorca. Unamused, Pan Am executives complained to the CAB; meanwhile the flight was canceled...
...ironically harks back to the freely given "Dubček shifts" that workers put in during their brief springtime of freedom. Otherwise, the occupation regime's tinkering with the economy has made the situation worse. A 16% wage increase in the first half of 1969 only increased the rate of inflation. Now the regime is trying to freeze wages and prices, but is applying the controls gradually to avoid antagonizing the populace. Since there are no visible results, the effort succeeds only in angering everyone...
...Government policy. The troubles began with rigid, Depression-born price supports, which eventually reached a peak of 32½? a pound in 1955. They were aimed at propping the growers' income, but in the process they raised the price of U.S. cotton above the going world rate. The Government's solution to that problem was to subsidize exports, beginning in 1956. That move, in turn, created a crisis for domestic mill ers, who complained that they had to pay more for U.S. cotton than competing foreign mills. Washington's answer was to add a third subsidy, this...