Word: retailing
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Dates: during 1960-1969
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...without overtime, to $1.25 an hour in 1964, with time-and-a-half after 40 hours. For workers already under the minimum-wage tent, the bill lifts the national minimum to $1.15 in 1961, and another 5? an hour in 1962 and 1963. Among the newcomers: workers in retail or service businesses with annual gross revenue of more than $1,000,000; employees of gas stations grossing $250,000 a year or more; transit workers, certain laundry workers and switchboard operators. Most controversial point in the bill: a clause extending wage floors in certain cases where employees only "affect" (rather...
...House Bill pretty much resembles what President Eisenhower has indicated he would accept. The bill extends coverage to 1,400,000 workers, principally employees of retail chains with five or more stores in at least two states. For the store clerks, the House bill provides a flat $1-an-hour minimum, with no overtime provisions. For workers already covered, the minimum would rise to $1.15 an hour...
...explain recent events in In donesia. In the past year, Sukarno's breezy decision to freeze all bank accounts over $2,000 and devalue Indonesia's currency by 75% had produced a 92% increase in the amount of paper money in circulation and a 22% jump in retail prices. By driving 2,500,000 Chinese, mostly small shopkeepers and their families, out of In donesia's villages, he had involved the nation in a bitter feud with Red China. Then, too, there was the knotty question of Presidential Regulation No. 5, which prohibits public criticism...
...steel industry is chugging along at less than 55% of capacity and steelmen now foresee less of a September upturn than they had expected. Weekly freight-car loadings, a favorite of the indicator readers, offered few clues: they edged up 0.9% after a two-week decline. July retail sales dropped i% from June, but personal income in July hit a record annual rate of $407 billion. Housing starts fell almost 10% in July from June levels -and were 26% below July a year...
...what pleases the soldier most about the PX is its prices, which run about 20% below U.S. retail prices. Reason: the PX does not have to pay income taxes, gets free shipment of goods overseas, has its stores built for it, spends little for advertising or promotion. Clothing sells for 15% to 50% less than in the U.S., watches for 55% less, quality cameras for up to 45% less. And by buying from the PX, the soldier is actually dealing himself a bonus: all PX profits go to military welfare funds...