Word: workers
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Dates: during 1950-1959
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...often fatigued are particularly vulnerable. Perhaps this explains why the colleges and school infirmaries have from five to seven-hundred percent more cases than do public hospitals in the same area. The student who suffers form football weekends and hour exams is more liable to suffer than the office worker who enjoys neither of these benefits...
...Worker stock programs are not a new idea, and for some businessmen their past record is against them. In 1929 many of the biggest corporations -U.S. Steel, Standard Oil Co. of Indiana, A.T. & T., Procter & Gamble-some 200 in all, had stock programs. But when the Depression hit, all but a handful ran into trouble and were dropped. Not only did the workers, like almost everyone else, sell out at large losses, but the plans themselves were faulty. Most called for stock to be bought at a fixed price on a fixed day and paid off in rigidly fixed installments...
...basic good health of the entire economy, most modern stock-buying programs contain safeguards to protect employees. One device is for the company to help its employees buy stock, either through discounts or straight cash contributions. Thus, if the stock drops, the loss is spread between company and worker. A.T. & T., for example, sells its stock (currently $180) at a $20 discount. G.M. buys 50? worth of stock for a worker for each $1 he puts into savings (of which one-half is invested in Government bonds and one-half in G.M. stock), and also promises to make...
...stock drops in value, many companies provide truck-sized loophole's to let workers escape from their payments. Inland Steel, Delta C & S Air Lines, Atlanta's Citizens' & Southern National Bank and Dow Chemical all hold the stock until the final payment is made; then if a worker decides that he does not want the stock, his money is returned...
...many businessmen-even those who champion the idea of worker stockholders-too much protection in stock plans is a poor idea. They feel that workers, like everyone else, should take the normal risks involved in stock buying. Over and above that, many others question the wisdom of a worker putting all his savings in one basket by buying only his own company's stock, argue that he would be better off by diversifying his investments. Some companies fear that organized labor may try to exert too much influence on company policy if union members own large amounts of stock...