Word: wages
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Dates: during 1970-1979
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...some of its older 707s to other airlines. At Miami-based Eastern, net income for the first half increased ten times, and the second-quarter results of $19.5 million were the best in the company's history. But part of the increase was due to a temporary wage freeze urged by former Astronaut Frank Borman, who became the airline's chief executive in December. Though unions may not go along, Borman has asked employees to consider a profit-increasing plan whereby they would receive perhaps 95% of normal wages in bad years and as much...
Rotting Fruit. With that kind of leverage, it is not surprising that the cannery workers last week won a hefty 32½% wage and benefit increase over the next three years. By the time of the expected settlement, unfortunately, a staggering amount of food will already have rotted in the fields. Almost 15%, or $10.4 million worth, of the clingstone-peach harvest was lost. So was approximately 5%, or $9.5 million worth, of the thick-skinned tomato crop and about 30% of the total apricot harvest, valued at $4.5 million...
Members of Whitlam's cabinet, chosen by the Labour Party caucus, favored fairly radical redistribution of income. His first labour minister, whose position permitted him to influence the nation's wage rates markedly, consistently supported unions engaged in mandatory federal arbitration. he "came to office with the conviction that it was time to give the workers a bigger share of the cake," according to a recent issue of The Economist. Unions received favorable legislation and generous wage increases. Salaries doubled in two years with women's wages rising 85 per cent. Public employees' pay hikes paced the nation...
...strategy to achieve these objectives. The main elements of this strategy have been to bring government spending under control; to free resources to the private sector and to individuals; to pursue a responsible monetary policy with clearly announced goals, and to generate a climate of national responsibility in which wage and salary restraint will be possible and in which both business and unions will act with a principal regard for the national interest... We took a number of steps to help investment and ease the cash crisis for many businesses. These included a 40 per cent investment allowance; suspension...
...stated his opposition to many of the Whitlam administration's programs. He has modified the health insurance plan to make it more attractive for the wealthy to subscribe to private insurance. He has attempted to cut back on the number of welfare recipients. He pushed for unions to accept wage increases below the cost of living. Cuts in educational spending and urban development are expected...