Word: wage
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Dates: during 1950-1959
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...auto industry virtually assured itself of three years of labor peace last week. After a quickie (six hours) walkout, Chrysler signed the standard three-year contract with the U.A.W. embodying the Reuther version of the guaranteed annual wage. Like Ford and G.M. before it, Chrysler agreed to establish a fund to guarantee its 139,000 employees 65% of their regular pay for 26 weeks. It also promised minor raises for increases in efficiency and the higher cost of living. Cost to Chrysler: an estimated 20? an hour per employee, about the same as at Ford...
...next day, 22 hours after its workers went on strike, American Motors (Nash, Hudson) became the first of the Little Three (others: Willys, Studebaker-Packard) to sign a pact with a guaranteed annual wage. But struggling American, which currently produces 2.3% of the industry output, won important concessions at the last minute. It will not begin payments into the special G.A.W. trust fund until Sept. 15, 1956, more than a year after the Big Three, will thus save 5? an hour on 24,000 workers during the pact's first year...
...kitty that each brought from home, they draw $1.25 a day for food. In groups of four and five, they set up housekeeping in grubby, cramped little walkups that one described as "cleaned-up ratholes." They sleep in borrowed bunks, cook, wash and eat in primitive kitchens, wage an endless war against mice and cockroaches. It is a far cry from campus life...
MINE WORKERS have won the same basic $20 daily wage as workers in the booming steel and auto industries. The miners' John L. Lewis has negotiated a contract with the Bituminous Coal Operators Association, under which 120,000 northern miners (current wages: $18.25) will get their first pay boost in three years: $2 a day, with $1.20 of it going into effect this fall, the rest next April...
...With the exception of Kennecott Copper, which boosted the price of Chilean metal only, the big companies (Anaconda, Phelps Dodge, and American Smelting & Refining) hiked prices of copper for the third time this year, for an overall 10?-a-lb. increase since January. Reasons: 1) a 15½? wage boost given 35,000 U.S. copper workers after a 43-day strike, 2) a general increase in world copper demand...