Word: settlements
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...yours," L.B.J. beamed at his friend. This accentuated mood of friendship prevailed, although in a speech before Congress Díaz Ordaz sternly warned against protectionist trade tendencies in the U.S. But the visit's highlight was clearly the celebration of the Chamizal affair's settlement...
Detroit's No. 1 salesman last week was United Auto Workers Boss Walter Reuther. Having left the Ford Motor Co. bargaining table with the richest labor settlement in industry history, he now had to sell the terms to the boys. The 35-month contract was worth "seven hundred to eight hundreds of millions of dollars," in wages and benefits, he said on an hour-long TV pitch. "I tell you that we have squeezed and squeezed and squeezed...
Though Ford Negotiator Malcolm Denise admitted after the settlement that "our costs are always reflected in prices," the company kept mum on how much, or when, it might up car prices to meet the cost of the new contract. Undoubtedly, the $114 average price increase that Ford announced last month-in line with the rest of the industry-anticipated many of the labor costs. If Reuther's $800 million package was more than the company had projected, prices may be raised once again at year's end, when shoulder harnesses become a mandatory safety item...
Still, the lasting damage is not likely to settle in production-automen are sticking by their bright and early predictions of a 9,000,000-car year-but in a surge of inflationary wage increases. With its staggering 7% annual increase in wages and benefits, the Ford settlement dwarfs the 4.9% won last year by the airline machinists, who effectively buried the Administration's once cherished 3.2% wage-price "guide-posts." Though the Administration has been strangely silent of late, it is now clear that another mark has been passed. Last August CEA's Ackley expressed the hope...
...Pattern. The new pattern is already emerging. Reuther's 7% will almost certainly spread through the auto industry, and from there to industries less able to afford it. The ink had hardly dried on the Ford contract when the U.A.W. exacted a similar settlement from Caterpillar Tractor Co., which was the first of five farm-equipment makers to face contract negotiations this year. And the United Steelworkers Union last week cranked up for contract talks soon to begin with can manufacturers by issuing a policy paper outlining a Ford-style settlement. For his part Reuther's next task...