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Corporations must bargain with unions on stock purchase plans if the company contributes toward purchase of shares. So ruled the U.S. Court of Appeals in Washington last week in a precedent-setting decision. In a case involving Richfield Oil Corp. and the C.I.O.'s International Oil Workers Union, the court upheld a National Labor Relations Board ruling that Richfield's stock plan (jointly financed by worker and company contributions) was in effect a wage increase, thus a bargaining matter. Richfield, which will appeal the case to the U.S. Supreme Court, argued that the ruling "permits the union...
...fear that organized labor may try to exert too much influence on company policy if union members own large amounts of stock. Another big worry is that unions will take over a program, make it a part of their wage bargaining. In a recent case involving California's Richfield Oil Corp., the NLRB ruled that a company-aided stock-buying program was in effect a boost in wages and thus came under collective-bargaining rules. The case is being appealed in the Federal Court, but many businessmen are skittish about starting programs under such conditions...
STOCK PURCHASE PLANS for employees are matters for collective bargaining, if the company itself contributes toward the purchase. In so ruling in a case involving Richfield Oil, the National Labor Relations Board significantly broadened the meaning of "wages [and] other conditions" in the Taft-Hartley Act. Richfield is appealing the ruling to the federal courts. But NLRB did not open the door to union demands for companies to set up stock purchase plans; that question was not an issue...
Super Fuel. A new premium gasoline with eight separate additives is being brought out by Richfield Oil Corp., which claims its latest product will increase mileage, reduce gummy deposits, engine stalling and sparkplug failure...
Propane Locomotive. The first propane gas turbine locomotive has been developed by the Union Pacific Railroad, Richfield Oil and General Electric. The 276-ton unit, which the U.P. plans to use on its Los Angeles-Salt Lake City freight run, can deliver 4,800 h.p., more than three diesel units operated together. The U.P. expects maintenance costs to be low because propane burns without leaving carbon-like deposits on the turbine blades, a fault of coal-and oil-driven turbines...