Word: waging
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Dates: during 1980-1989
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...precarious position of the embattled garrison at Port Stanley. Declared Galtieri: "We will fight for weeks, months or years, but we will never give up sovereignty over the is lands." He seemed to be warning that even if his soldiers were eventually driven off the Falklands, he would wage a long-term war of attrition against the British...
...Most wage-earning Americans will see increases in their take-home pay after next week, when the second round of the Reagan Administration personal income tax reductions goes into effect. The cut trims the federal withholding bite by another 10% on top of the 5% reduction of last October, pumping an additional $39 billion into the depressed economy. To millions of Americans, though, actual buying power after July 1 may turn out to be only microscopically greater than before...
...Steel's woes are not due entirely to imports. Many of its troubles are made in the U.S. Perhaps the most important difficulty the industry faces is excessively high wages. Robert Crandall, a senior fellow of the Brookings Institution, estimates that American steel companies are now paying 75% more than the wages paid in other U.S. manufacturing industries. The average union wage and benefit payment: $22 an hour. Says Crandall: "That is the industry's biggest problem...
...United Auto Workers earlier this year agreed to new contracts containing important wage concessions. Nonetheless, some industry analysts figure that these agreements will only cut Japan's $1,500 edge by $200 or so. That cost of production difference will have to fall further before Detroit's sticker prices can come down and a strong, and lasting, sales pickup can start...
...C.P.I. They predict that the index will meet the Administration's targets by rising just 5% for all of 1982 and 5.7% in 1983. The economists were particularly cheered by an unexpectedly sharp drop in the so-called core rate of inflation, which measures the inflationary impact of wage gains. That key indicator has fallen to about 6%, from a high of about 9% in 1980. Said Walter Heller, chief economic adviser to Presidents Kennedy and Johnson: "A sustained period of 6% core inflation is a very substantial improvement." Adds Charles Schultze, chief economic adviser to President Carter...