Word: wage
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Dates: during 1950-1959
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...industry-hungry South, the federal $1-an-hour minimum-wage law protects workers in the big new plants shipping goods in interstate commerce, but Deep Dixie has massively resisted state minimum-wage laws to cover local industry and retail businesses fattened by the new payrolls. Last week progressive North Carolina (TIME, May 4) broke the Deep South line with a 75?-an-hour minimum that assured prompt raises for 55,000 low-paid Tarheels...
Businessman Governor Luther Hodges made the wage floor a key part of his legislative program two years ago, got it to floor debate after ten years of death-by-committee. This year, backed by a determined band of freshman legislators, Hodges insisted on the minimum wage as necessary paving on the state's road into the future. Said he: "Employers can afford it, employees deserve it, and the state's economic progress demands...
...advisers, statisticians, supernumeraries and just plain hangers-on that the cost to management and labor was estimated at nearly $25,000 a day. President Eisenhower tried to set the tone for negotiations by warning again that both sides must show "good sense and some wisdom" to avoid an inflationary wage hike (see NATIONAL AFFAIRS). But both sides had hardly started negotiating when they fell to battling...
...industry angrily disagreed. Chairman Avery C. Adams of Jones & Laughlin said that from 1940 to 1958 the industry's labor costs per man-hour increased 298%, while its shipments of steel products per man-hour increased only 30%. Thus, every recent wage hike kicked off a steel price boost (see chart). Adams and fellow executives contended that profits are still "inadequate" to support a wage hike. Even at last year's relatively high levels, steel's profits-to-assets ratio ranked 27th among the nation's 41 key industries. The "obvious" solution to wage-push inflation...
...Walter Reuther last fall-to prevent revival of the rebel faction that tried to bounce him in 1957. Last week more mutinous mutterings rose from McDonald's ranks. Pollster Samuel Lubell found that many a steelworker genuinely fears a steel strike, is lukewarm to demands for greater wages, fearing that they might cost him his job (TIME, May 4). To refute Lubell, McDonald arranged for seven of his wage-policy committeemen to stand up in public meeting and demand hefty wage raises. Said one: "A lynching bee would look like a Sunday-school picnic compared to what my members...