Word: waging
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Dates: during 1980-1989
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While final details of the two union contracts will not be announced until this week, neither apparently involved large wage hikes that could unsettle the recovery. The agreements came at a time when new statistics indicated that the economy was beginning to slow down from the torrid pace of the first half of the year, as most experts have been predicting. The Commerce Department reported last week that according to its preliminary estimates, the gross national product in the third quarter grew at an annual rate of 3.6%, down from 7.1% in the second quarter. In addition, housing starts...
...past eight years. "I'm on the bottom of the totem pole. If we don't get job security now, I'm going to be pushed off." Concurs fellow Assembly Line Worker Jack Stewart, 30: "If you don't have that job, a wage increase isn't going to do you any good...
...proposed contract provides for a pay increase of 2.25% in the first year and lump-sum payments in the second and third equivalent to 2.25%. The lump-sum payments, however, will not be folded into the workers' current average basic wage of $9.63 an hour on which cost of living pay adjustments are calculated, and thus will not be built upon in future pay hikes. Under the agreement, workers will be eligible for "attendance bonuses" of up to $500 a year and a one-time ratification payment of $180. A unique feature of the contract is a venture-capital...
...sought all along to minimize wage increases in order to keep manufacturing costs down. Said Alfred Warren Jr., GM's chief labor negotiator, after the conclusion of the talks: "It was absolutely essential that we come out of these negotiations totally competitive, that we come out in a better competitive position than we went in. As we look forward, we think that the contract will help...
...fact the terms were relatively modest. Wages will increase 10.25% over the 40 months of the contract. The top hourly pay will go from $14.16 to $15.56. Pensions, sickness and accident benefits will also be increased slightly. The job security provisions include measures to protect miners' seniority and rights at mines leased to new operators, rules to benefit U.M.W. workers laid off as a result of subleasing and a requirement that mineowners notify the union when they plan to sell an operation and furnish proof that the buyer will abide by the union contract. In the past, new owners...