Word: wages
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Dates: during 1970-1979
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...Washington is the President he most admires because in an age of many more brilliant men, Washington dominated by force of character, then walked away from power with ease. Crane pays special tribute to Grover Cleveland because Cleveland "had a unique understanding of the impact of soft money on wage earners" and discerned the evils of the era's trade protectionism. If Presidents are judged by what they achieved as measured against their stated objectives, says Crane, then James K. Polk, who vowed to acquire California, settle the Oregon dispute and reduce tariffs, leads all the rest. Polk also...
...becoming more like a Latin American, who spends out of fear that he had better buy it now or it will only cost more tomorrow. Says Marvin Brenner, owner of the Casual Village women's clothing chain in New Orleans: "People know that there will be another minimum wage hike in January, and it will cause wages to go up all along the line. The minimum wage very quickly affects clothing prices, so people are buying in large part as a hedge against inflation...
...deal will hold automatic wage increases to about the same level as under the old contract, but will tighten up considerably on cost-of-living payments, which are made automatically every six months as inflation goes up. Though consumer prices are rising at an alarming 11.4%, Administration officials are hopeful that the rate of increase wi now begin to ease as food prices start to decline, and that inflation will average 7% for the year as a whole. If so, the postal workers should get no more than 6.5% in total pay increases during the contract's first year...
Though the postmen had initially demanded wage increases that would have totaled 14% in the first year alone, the real sticking point in the talks was that the Postal Service wanted to drop the no-layoff clause that was in the old contract. The unions feared that increasing automation in the sorting of mail could put more and more of their members out of work. Finally, at 10 p.m. last Thursday, two hours before the formal expiration of the contract, the Postal Service negotiators agreed to retain the no-layoff clause, and progress on the other issues came almost immediately...
Once a union became solidly Peronist, its workers could look forward to huge wage increases. Evita also controlled the 5 million-member General Confederation of Labor, whose figurehead leader had been a hall porter at her old apartment building...