Word: winter
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Dates: during 1970-1979
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...Thatcher's tough stand on union abuses, he charged that Tory plans for legal reforms in industrial relations could lead to a disastrous conflict of views between the unions and government. The union leaders, whose battle with Callaghan over his proposed 5% wage ceilings led to a bitter winter of strikes and slowdowns, endorsed the message, closing ranks as they had not done for years. Pledging his allegiance to Labor, Moss Evans, general secretary of the Transport and General Workers' Union, said that "working with the Tories would be like running a cross-country race barefoot." Sidney Weighell...
...harsh winter chills economic growth
...winds of Russia's winter blew very little that was good for the Soviet Union this year. The Central Statistical Administration of the U.S.S.R. last week released its figures on the performance of the Soviet economy in the first three months of 1979, and they were bleak. The coldest winter in 75 years sent temperatures plummeting to -45° C in Moscow suburbs and severely damaged pipes, power lines, railway beds, trucks and roads across the country. Never a strong point of the Soviet economy, transportation became a major national problem as a late spring delayed necessary repairs...
Last week the industry's critics got some powerful new ammunition. Fifteen of the nation's largest oil companies released first-quarter profit figures, and they showed an acceleration of the winter-long earnings surge. Included in the group were six of the so-called Seven Sisters,* the richest and most powerful oil companies in the world, which, more so than their smaller competitors, have huge investments in all four aspects of the business: drilling, transporting, refining and marketing...
...biggest oil multinational of them all, Exxon Corp. (1978 sales: $60.3 billion), reported a gain of 37.4%, to $955 million, by far the most impressive three-month earnings period in the company's history. Recalling the rough treatment that the press gave top management in the winter of 1974, when Exxon announced similarly enormous profit gains during the Arab oil embargo, the company avoided a press conference; instead, it announced the earnings by faceless press release. Chairman Clifton Garvin and President Howard Kauffmann even managed to be out of town on vacations, leaving any explaining to be handled...