Word: wage
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Dates: during 1950-1959
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Weariness of price upcreep made many a union member skeptical about the value of wage boosts won by unions. Admitted a United Auto Workers official in Detroit, on the eve of the threatened steel strike (see BUSINESS) : "My guess is that the steel strike will get as little actual support, from the public and from labor in general, as any strike ever got. The average working stiff is becoming much more realistic about these things...
...copy our designs and then undersell us with cheap reproductions." British textile manufacturers complain of deceptive Japanese labeling. But, says one trade official: "Let's face it. Their goods have improved tremendously in quality, and they no longer have to copy our designs." Basic British complaint: Japanese wages are only 35% of the average British wage...
...change Vatican working hours from the traditional 8 a.m.-to-2 p.m. schedule, to answer the complaints of many foreign prelates, diplomats and newsmen, who have long protested that it is almost impossible to get the ponderous, antique machinery of the Vatican to grind after lunch. Together, the wage boost and hour stretchout will probably cut down on the Vatican tradition of "moonlighting," i.e., taking on extra spare-time jobs...
Every few years, in early summer, the U.S. is treated to an old, familiar spectacle. With flourish and fanfare, the representatives of the U.S. steel industry's management and labor sit down to negotiate a new wage agreement, working against the steadily approaching threat of a strike deadline. Labor cockily demands a fat wage hike-and management just as cockily turns it down. Eight times since World War II they have fought their suspenseful duel; five times it resulted in strikes, three times in an early agreement. This week the U.S. was up against the old deadline once more...
Before and during the ten long weeks of marathon bargaining, President Eisenhower had warned both management and labor not to make an inflationary settlement, i.e., one in which wage increases would be so big that they would force price increases. To prove how serious he felt about the dangers of inflation, Ike last week vetoed a housing bill because he considered it inflationary. His words-and a torrent of warnings from every quarter-had awakened the nation to the perils of new inflation. As it met with labor last week in Manhattan's Roosevelt Hotel, steel management was keenly...