Word: wage
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Dates: during 1950-1959
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With the major steel companies about to weigh in with more record earnings, Adams was not the only steelman who felt slightly uncomfortable at announcing record profits in the middle of a strike for higher wages. Said an officer of U.S. Steel, the industry's leader: "Our earnings are pretty large. I guess they could come out at a better time. But we are taking it like good sports, proud to have done so well. Even after wage-cost push, depreciation, wasteful practices and such, we still have an awfully big hunk of dough left over...
Management's tough stand was no idle pose. Big Steel, led by U.S. Steel Corp.'s Board Chairman Roger M. Blough, was bent on halting steel's relentles's postwar trend: ever higher wages, ever higher prices-both up about 150% since 1945. With U.S.-made steel all but priced out of foreign markets and losing domestic markets to low-cost foreign steel (TIME. July 20), the steel industry finally decided to hold out against a wage boost unless the union conceded management more freedom to trim costs by cutting down on "featherbedding and loafing...
...attack on work rules gave a propaganda opening on the other side for Steelworkers President Dave McDonald, who raised a cry that the bosses were trying to take away the coffee break and regulate trips to the men's room. Steelworkers, who had been grumbling 'that no wage increase was worth a strike because it was sure to be canceled out by price upcreep, rallied to the union's charges that management wants to put the workers "at the mercy of every plant supervisor...
...count on no broad base for revolt. Peasants in the back country are apathetic or mildly progovernment. They eagerly inform on armed rebels for a $1,000-a-head reward. Workers in the towns-25% of the population-have a paternalistic labor code, a 20?-an-hour minimum wage, good housing, medical care-and a healthy fear of the dictator's police...
...United Steelworkers' President David J. McDonald last week presented union demands to the aluminum industry, whose contracts lapse July 31. Dave McDonald wants the same windfall for his 32,000 aluminum members as for his 500,000 steel-industry members: a three-year contract with a 15? hourly wage-and-benefit boost every year, plus cost-of-living hikes. The U.S. aluminum industry is softer than steel; if management accedes to a neat compromise package-perhaps iof an hour-it might speed a settlement in steel. If not, the aluminum workers may soon join the Steelworkers on the picket...