Word: wages
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Dates: during 1970-1979
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...dismissing Ford's extremely conservative 25-year House record as secondary in importance to his pragmatism and spirit of cooperating. An article last Sunday describing Ford as a "hard-line, Pentagon-oriented cold warrier" and citing his "stinginess toward domestic social programs" (including fights against Medicare, housing bills, minimum wage raises, mass transit funds, and the poverty program), goes on to declare that "in spite of his votes, his partisanship and his public appearance, Mr. Ford had the foresight and flexibility to make some necessary changes in the Republican way of doing things in Congress." His naming of certain moderates...
...blame an employer for resisting high and rising demands for wage increases? His business is soft, his costs are climbing crazily-and he has to draw the line somewhere...
Wrong Number. Last weekend negotiators struggled to avert a nationwide walkout by 710,000 Bell Telephone System employees. The Bell workers' motives were not unlike those of employees in other industries riddled with or threatened by strikes. American Telephone & Telegraph had offered wage increases averaging 9.4% this year and totaling 15% over the next three years...
...action despite rampant inflation and declining production. Nixon told a warmly sympathetic gathering of four California businessmen's groups in Los Angeles that the Administration would continue on its present course of "steadiness" and "would respect the basic laws of the marketplace." He again rejected any return to wage-price guide lines or controls and said that the battle against inflation would best be served by restraining demand for the short term while increasing supplies for the future...
...have a substantial impact on prices. Consumer prices in the first six months of this year shot up 12.6%, and they are likely to continue leaping at or close to a double-digit pace for the rest of the year. Farm prices are marching up again, and increases in wage settlements jumped from 7.6% in the first quarter to 10% in the second...