Word: tradings
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Dates: during 1980-1989
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...divestitures have so far caused only scattered layoffs of South African workers. Nonetheless, black joblessness, estimated at 3 million, has increased by up to 300,000 annually over the past three years because of the weak economy. Black trade unionists claim that the wages of black workers have been cut once their American employers have departed. Many black leaders fear far more serious consequences. Says Mangosuthu Buthelezi, Chief Minister of the KwaZulu homeland and a longtime critic of divestiture: "If the South African economy is destroyed along with apartheid, we will have to build on the quicksands of deepening poverty...
...society. The greatest driving force in life, which is individual energy and effort, was becoming really cocooned. Secondly, people do need incentives to encourage them to work harder, and if you take too much away in tax, then you will not get that driving incentive. Plus the trade union law. When we took over, it seemed as if the left-wing trade union leaders were more powerful than the government of the day. All of this has been replaced by different systems. We now know that the spirit of enterprise is there. The economy is doing well and catching...
Thatcher's concern for the emerging middle class contrasts with her distaste for organized labor. In the three decades before she took over, wildcat strikes had torn holes in the country's economy. Major trade unions were considered more powerful than the government, and labor unrest helped topple two Prime Ministers, Edward Heath in 1974 and James Callaghan in 1979. Thatcher changed all that. Starting in 1980 she pushed through legislation to limit picketing rights, ban secondary picketing and make national unions financially responsible for the actions of their members. She has taken on a number of the country...
...Biden is a few years ahead of the baby boomers, but he professes to be a card-carrying member of their generation. Using language appropriated from John Kennedy and reworked by Pollster Pat Caddell, Biden exhorts those from their 20s to their 40s to trade up from dreary materialism to exhilarating activism. "The cynics believe that my generation has forgotten," he says in one of his stump speeches. "They believe that the ideals and compassion and conviction to change the world that marked our youth is now nothing but a long-faded wisp of adolescence . . . But they have misjudged...
DIED. Richard Roth Sr., 82, New York City architect and chairman of the board of Emery Roth & Sons, the firm that helped transform the Manhattan skyline with such glass-and-steel monoliths as the World Trade Center towers (1973) and the Pan Am Building (1963); of a heart attack; in New York City...