Word: local
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Dates: during 1960-1969
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...corporations have been able to sidestep these problems by selling stock instead of bond issues. Developers of office buildings, apartment houses and shopping centers can arrange mortgages by giving the lender a share in the revenues or profits. These expedients are not available to home buyers or local government units that must sell bonds, and some authorities think that much more radical changes in the markets will be required if they are to raise the cash that they need. Sidney Homer and Economist Henry Wallich, among others, have seriously suggested that mortgage and bond issuers may have to pay variable...
...various reasons, unions were battling against National, Shell, the growers of California table grapes and the state of West Virginia. But the A.F.L.-C.I.O. had never organized a boycott on its own-until last week. Then, on the first day of the Christmas shopping season, the Federation urged local unions to post pickets at entrances to department stores across the U.S. The unionists were to distribute handbills urging shoppers not to buy products made by General Electric...
ENFORCEMENT: Contracts are legally binding, and LO officials deal harshly with any wildcat strike, threatening to expel an offending local from the national union. They are backed by labor courts, which have the power to fine individual strikers. When 1,000 longshore men walked out at Gothenburg last month in Sweden's first sizable wildcat strike in 20 years, they prudently announced in advance that their protest against piecework wages would last only one week...
What can the U.S. learn from the Scandinavians? Among other things, there could be more regular contact between labor and management negotiators, prior agreement to negotiate any point of conflict and earlier involvement of national unions in local disputes. Beyond that, the price for labor peace in the U.S. would require that both labor and management relinquish part of their cherished economic sovereignty. So far, the U.S. has not even begun to debate that question...
...company's salesmen stay together and play together. A team of them often converges on a town and spends the whole week blanketing it. On weekends, salesmen and their families are expected to invest their leisure time in the company of local managers...