Word: wages
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Dates: during 1980-1989
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...looking forward to carrying it out or whatever I'm supposed to do." But she is hoping that her official duties will not prevent her from also carrying on with her career working in a London graphic-arts office. She would be the first royal wife to be a wage earner...
...last month Eastern was $2.5 billion in debt and its bankers were threatening to call in some of the loans if the airline's unions did not agree to make $450 million worth of wage concessions. Eastern was perilously near bankruptcy. Said Borman: "It was either fix it, sell it or merge...
Enter Lorenzo with an offer to buy Eastern. Borman was by then negotiating night and day with the airline's unions. He delivered an ultimatum: accept 20% wage cuts or the airline would either sell out or go under. The pilots agreed to Borman's terms, and the flight attendants tentatively accepted a pact, but the machinists' union balked. That led to a confrontation between Borman and Charles Bryan, a 30-year company veteran who has led the machinists since 1979 and been an Eastern board member since 1983. Known as Chairman Charlie because of his power in the company...
...Lorenzo savored his success last week, he sounded alternately conciliatory and pugnacious toward Eastern's employees. "We're not union busters, we're airline builders," he said at one point. Later, though, Lorenzo took the offensive, declaring that it was essential that he receive wage concessions from the machinists' union. Said he: "There is no Santa Claus...
Argentina has made dramatic progress in quenching a raging inflation rate that exceeded 1000% in mid-1985. The government, which imposed wage and price controls last year, expects inflation to be just 28% for all of 1986. But like that of the other debtors, Argentina's improvement is tenuous. One potential threat is the fall in the price of corn, wheat and other grains, which provide about 45% of Argentina's export earnings...