Word: waged
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Dates: during 1970-1979
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...gloves, tea bags and latex rubber threads, but most will produce garments for the U.S. market. Indeed, many companies have been attracted because the U.S. does not yet impose import quotas on Sri Lankan garments. Typically, Jeffrey Bogatin, owner of a New York-based garment business, was attracted by wage costs of 73? an hour and a five-year tax holiday. Says he: "I'm shocked that there is not more of a rush by industry to this place. The people are educated and eager to work. This country...
More pointed restraint was necessary when the Pope recalled that in 1944 the city of Warsaw rose up to wage "an unequal battle against the aggressor . . . in which it was buried under its own ruins." During that battle, he noted, the city was "abandoned by the Allied powers." He spoke of Allies in the plural, but only one was involved. Stalin halted his troops a few miles outside the city and left the Polish underground army to be massacred. But the Pope also made a poignant statement about the wartime sufferings of the Soviet people...
Like a boxer rising groggily from a stunning roundhouse, a weakened Administration got back into the fight against inflation last week. It was time for some new tactics, since a federal judge had struck down President Carter's threat to withhold Government contracts from firms that breached his wage-price guidelines. The loss of the procurement sanction undercuts management's ability to resist granting powerful unions, already contemptuous of the guidelines, fat pay raises. A rash of big settlements for organized labor could also pull up wages for many nonunion workers, who are close...
Rich settlements for Big Labor can only widen the pay gap between its members, who have been gaining increases of 8½% to 9% so far this year, and nonunion workers, who have been getting wage-and-benefit increases averaging 7½%. Says Economist Audrey Freedman of the Conference Board, a private research group: "Managers who want to hold on to their best people are getting very uncomfortable with the disparity in pay between union and nonunion workers." Adds Economist Robert Nathan, a Washington consultant who has close ties to labor: "If unions' increases continue to be large...
...truth is that in both energy and the economy the deterioration has by now gone too far for the Administration to do much of anything. The cooling economy cannot easily be turned around-nor, in fact, should it be. Congressional enactment of mandatory wage and price controls remains a remote possibility if inflation shows another alarming burst as the economy winds down. But, short of that, recession seems about the only option still open to the Administration to curb the nation's crippling consumption of oil and to slow the price surge...