Word: reuthers
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...settlement that Walter Reuther was in the process of wresting from General Motors last week promised in many ways to be the best bargain for his United Auto Workers since World War II. By Reuther's own estimate, he won an average 12? hourly take-home raise and he drove much closer toward his goal of a guaranteed annual wage. Altogether, counting wage raises and new benefits, G.M.'s labor costs would go up an estimated 20? to 25? an hour in the first year of the contract. Reuther crowed that the deal was "noninflationary"-a claim strongly...
...Reuther's position had undeniably been strengthened by the nation's improved economic condition. But the chief reason for his aggressiveness was his success fortnight ago in isolating American Motors and concluding with it a new three-year contract that included profit sharing (TIME. Sept. 1). Last week, as he settled down for intensive bargaining with G.M. Chief Negotiator Louis Seaton, Reuther demanded that G.M. match the American Motors agreement...
...lieu of profit sharing, Reuther was willing to settle for the equivalent amount of money in such benefits as increased hospitalization, pensions and unemployment pay. But G.M. maintained that the terms he demanded were too high; some Big Three statisticians reckoned that Reuther's demands would cost the companies as much as 15^ to 20^ an hour for every U.A.W. worker. Said one Big Three executive at week's end: "If Walter doesn't back down, there's going to be a strike...
Undisturbed. This threat did not seem to disturb Reuther unduly. The U.A.W. strike fund stands at $42 million-enough to pay strike benefits to G.M.'s 310,000 workers for almost two months. According to automen. Reuther was also counting on Government intervention in the event of a long strike; already the automen charged the Government had. in effect, intervened in Reuther's favor by negotiating a six-day extension of the Aug. 31 contract deadline -a move which will enable U.A.W. workers to collect $10.9 million in holiday pay for Labor...
...showdown came. Reuther's decision to strike the biggest of the auto companies was a well-calculated gamble. Financially. G.M. could hold out longer than any other company, but is unlikely to relish the prospect of seeing its own plants shut down while Ford and Chrysler go on producing. And once G.M. signs with the U.A.W.. whether after a strike or only under threat of one. Ford and Chrysler presumably would have little choice but to accept the same terms...