Word: strike
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Dates: during 1940-1949
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With all the impressive might of a carrier strike, the U.S. Navy last week brought its rebellion into the open. Risking their careers, the Navy's highest-ranking officers ranged themselves in flat opposition to the declared policies of the U.S. Congress, the Secretary of Defense, the Joint Chiefs of Staff and the President...
That should have been a hint to the assembled newsmen, but it escaped them. Harry Bridges was on the way back to San Francisco, presumably because he had been unable to reach a settlement of the Hawaiian waterfront strike. The newsmen, the longshoremen and Bridges stood talking idly a few minutes more. Harry was expecting a phone call, he said. Finally the airport loudspeaker blared out that Bridges' plane was loading. "Well," said Harry, "there hasn't been any phone call so here it is." He cocked a foot up on a nearby bench and began talking slowly...
...Hawaii's seven struck stevedoring companies insisted that "no settlement has been reached." But finally they got together and grumpily confirmed what they considered to be Bridges' rudely premature revelation. The I.L.W.U. and the stevedoring firms had come to terms on the 159th day of a strike which had crippled the islands' economy. The terms: an immediate 14?-an-hour raise for longshoremen (to $1.54 an hour) and an additional 7? boost beginning March 1. The total was 11? less than the I.L.W.U. had first demanded. The 7? raise next March was again for the longshoremen...
Some dock operators fought hard against the settlement, finally gave in at the insistence of the hard-hit Matson Navigation Co. (with 18 freighters and the luxury liner Lurline immobilized) and sugar planters (plagued by $61 million worth of raw sugar piled up in the islands). The strike had cost the islands an estimated $100 million loss in business and wages. Even with the settlement accepted by both sides, Hawaiians had to wait a while before normal shipping was resumed: the union insisted on clearing up some fringe issues before letting its stevedores go back to work...
Investors seemed to think that the upsurge would last. They brushed off the steel and coal strikes, quoting the old Wall Street saw: "Never sell on strike news." They pushed up U.S. Steel if to 1⅜ TO 24⅜, the high since the stock was split in May, and General Motors up 2¾ to 65⅜, new high for the year...