Word: waging
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Dates: during 1970-1979
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...decontrol of oil prices and restricting the money supply to combat inflation. He is in a bigger hurry than Carter to stimulate the economy in the hope of lessening the impact of the recession. He is likely to favor a payroll and business tax cut, but he would enforce wage and price guidelines more rigorously than the President...
...company, the pension payout jumped from $60 million in 1976 to $80 million last year. The pension burden has become heaviest in the older capital-intensive industries such as steel, rubber and farm equipment, often because tough unions have increasingly asked for fringe benefits instead of simple wage hikes. Among other firms carrying particularly weighty pension loads are Uniroyal, Wheeling-Pittsburgh Steel and the Budd Co. A great many other firms have not taken care to set sufficient money aside to pay fully for promised benefits. A recent amendment to the Financial Accounting Standards Board rule instructed accountants to include...
Some details, including the precise size of the wage increase, were withheld until the settlement could be reviewed by officers of the GM locals, meeting in Detroit this week. A local-by-local ratification vote by all members should be completed within ten days...
...company agreed to increase paid days off (not counting vacation) from 12 to 26 during the life of the contract. Pending ratification, neither side would discuss the noneconomic improvements or the size of the increases in the cost-of-living clause and pay rates. One unofficial estimate put the wage increase at between 9% and 12%. At present the combined basic wage rate for all classes of GM workers is $9 an hour; by the end of the contract period that could well have risen...
...settlement comes at a time when the Administration is working to revise and make more flexible its voluntary wage-price guidelines. They currently limit wage and benefit increases to 7% a year, which is well below the auto settlement. Indeed, there is talk that the wages and benefits achieved in Detroit could become the standard for the new guidelines. If that means approving settlements of close to 12% annually over the next year, the Administration's chances of effectively combatting inflation...