Word: tiers
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...future Congressional staffers, second tier administrators, and maybe business managers, the process of closing and re-opening nominations, determining election results with obtuse formulae and dealing with the headaches such actions cause is probably excellent training...
...addition, Du Plessis announced the reintroduction of the two-tier rand, which was in effect until 1983. Under this system, the U.S. dollar price of the "financial" rand will be set by the central bank and pegged lower than the "commercial" rand. Foreign investors will be able to buy South African stocks at the lower financial rate, but will be required to sell at that rate. The financial rands will not be allowed to leave South Africa, although nonresidents will be free to buy and sell title to them in other countries...
...tier salary agreements are becoming widespread in U.S. labor contracts. Among airlines, the plan is now used at American, Frontier and Piedmont. Those airlines complained that because they paid much higher salaries, they could not compete against new, low-overhead airlines like People Express. In 1983, labor costs represented 37.5% of American's operating expenses, as compared with 20% for People Express...
United pilots argue that the proposal could cause troubles in the cockpit. Joseph Leroy, a 727 captain, says the two-tier system would bring "great dissension" because people would be getting different pay for exactly the same work. Says he: "The cockpit depends on mutual respect and trust. We cannot afford that kind of trouble." The pilots also cite a long list of wage and benefit concessions they have made over the past several years. Finally, the pilots point to the airline's 1984 operating earnings of $564 million. It was United's most profitable year ever...
...competitive airline industry, however, highflyers often suddenly crash to the ground. United Chairman Richard Ferris insists that his airline ; cannot afford to fly without a two-tier wage policy. Although pilots have not traditionally staged long walkouts, both sides last week seemed to be digging in for a tough fight...