Word: spiral
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Dates: during 1940-1949
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...third-round wage increases. To the 35,000 miners in the steelmakers' "captive" coal pits went the same $1-a-day boost John L. Lewis had wangled from other coal operators. Then U.S. Steel Corp., which had held out for more than two months against the wage-price spiral (TIME, May 3), gave Phil Murray what he wanted for his steelmakers: an average 13?-an-hour increase. Other steel companies followed U.S. Steel's lead, were expected to follow it also with price lifts (see BUSINESS...
Astronomer Nicholas U. Mayall of Lick Observatory, Calif., was taking routine pictures of N.G.C. 6964, a spiral nebula four million light-years away. On one of the plates last week his practiced eye discovered a monstrous star that should not have been there. It was a supernova, an obscure star that had exploded suddenly. When Dr. Mayall photographed it first, its "absolute brilliance" was equal to two million suns. It had probably faded from a peak a few weeks ago of four million suns. If any planets had been revolving around that unstable star, they were certainly vaporized...
...wage boost and price rise in steel in February 1946 took the last brakes off the postwar spiral of inflation. Last week, out of a clear sky with an apparently unlimited ceiling, U.S. Steel flatly rejected another round of wage demands-the third since 1946-and proclaimed instead a price cut (see BUSINESS...
Phil Murray's steelworkers had no other choice but to put on their hats and go home. Organized labor, preparing wage demands on a dozen other fronts, wondered with mixed emotions if the spiral was being reversed...
What about financial pressure? The same cost spiral that hit the News has hit every other college paper in the country, and there seems to be no reason why the News should be peculiarly hard hit. It is claimed that the News still loses money on each issue over its advertising revenue. If this is true, then there is something drastically wrong with the financial handling of the paper, and the editors should take immediate steps to revamp their business...