Word: settlement
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Dates: during 1970-1979
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...industry and the striking Teamsters remained unable to agree on a new contract that came near to meeting the Government's "voluntary" limit of 7% in annual wage and benefit increases. At the same time, a walkout by United Airlines machinists, who are also seeking a guideline-busting settlement, grounded all flights of the U.S.'s largest air carrier and forced the layoff of more than 13,000 pilots, attendants and other crew members...
...Teamsters settlement is all but certain to break the wage standard despite vigorous efforts by the Administration to force restraint. Last week bargaining resumed briefly only to be broken off again. When the talks first collapsed, April 1, the drivers were demanding an increase of 32% over three years. Though that would be well above the compounded guideline level of 22.5%, the Council on Wage and Price Stability (COWPS) seemed ready to exclude some benefit gains and pronounce an even 30% settlement to be within the standards...
...settlement is within the administration's voluntary pay standards," Alfred E. Kahn, President Carter's economic advisor, said yesterday...
Although the union and trucking industry announced the contract settlement would lead to higher labor costs of about 30 per cent over three years, the administration officials disagreed saying the contract only leads to a 26.5 per cent three-year increase in labor costs...
Frank Fitzsimmons, Teamsters union president, refused to say whether he thought the increases fell within the guidelines, leaving that to the government. "I can't figure their arithmetic," Fitzsimmons said after the contract settlement Tuesday...