Word: whipsawed
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Dates: during 1960-1969
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...amount equal to 16% of the U.S. gross national product. On top of that, the Federal Reserve contracted the money supply by 5.2%. Says Paul McCracken: "The remarkable thing is not that there was a 1921 recession but that our economic system survived under this massive fiscal and monetary whipsaw...
...will never see. Fully 75% of them have had no training at all for the world of work. Unemployment in the 16-19 age group is 13.6%, the highest of any age group in the land (see BUSINESS). These "push-outs" are the first to be caught by the whipsaw of poverty and despair...
...divide and conquer, the union had called a "whipsaw strike" against one store, hoping that loss of business would force it to come to terms that the other stores would then be forced to follow. Instead, all five stores locked out their clerks and stayed in business with temporary nonunion help. After seven weeks, the union gave up and signed a new contract...
...stores shut down. Disagreeing, the court said that the lockouts were legal because they were not "hostile" to the union; indeed the stores immediately rehired their union clerks after the strike. The lockouts were thus a legitimate "defensive measure to preserve the multiemployer group in the face of the whipsaw strike...
...Whipsaw. The trouble began when Weinberg set his sights on the Fifth Avenue Coach Line, whose routes lace Manhattan and suburban Westchester County. With the shrewd counsel of Lawyer Roy M. Cohn, 35, the boy Torquemada of the McCarthy era, Weinberg and friends bought up 23% of Fifth Avenue's stock for $3,500,000, put Weinberg in the driver's seat. Straightway, he began to complain that the company was barreling toward bankruptcy, demanded a fare boost from 15? to 20? to save it. Mayor Wagner, who had promised to hold fares down, would tolerate none...