Word: boost
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Brazil was in the third phase. Buckling under labor pressure, President Juscelino Kubitschek offered Brazilians the merriest Christmas in history-a 60% increase in minimum wages, and a 30% pay boost for the army and government employees, effective immediately. Playing Santa Claus would raise Brazil's record budget deficit of $285 million, but the news of the proposed wage hike ended the recent rash of cost-of-living riots (TIME...
...caused by just 877 men from the independent, closely knit Union of Newspaper and Mail Deliverers. Only 37% of the union showed up to vote on the offer of a $4-a-week raise, which would run pay to $107.82 for a 40-hr. daytime week, plus another boost of $3 a week after a year. The 37% voted down the settlement, 877 to 772, although it had been agreed upon by employers and union negotiators, and the picket lines went up. The papers still managed to get out issues for sale at their buildings. Enterprising newsboys bought copies...
American Motors' President George Romney, who has increased production six times this model year to keep up with the demand for the fast-selling Rambler (TIME, Dec. 8), last week announced another boost. Orders are coming in so fast that Rambler will increase its capacity from 330,000 to 440,000 cars annually. To complete the expansion before the 1960 model year, Romney will spend $10,150,000 on Rambler's facilities at Milwaukee and Kenosha, Wis., add at least 4,500 to the present payroll of some 18,000. With sales now running at a rate...
...many industry-hungry nations dangle as bait to U.S. firms. But they do offer other advantages, topped by free convertibility. "There is no trouble here in transferring dividends,'' says the chief of Guaranty Trust Co.'s Belgian branch, Elie Delville, a pioneer in the campaign to boost Belgium to U.S. businessmen. "You can walk into this office today with Belgian francs, and without formalities buy $1,000,000 for delivery in New York...
Reason for the switchover: without TV, the college would have to hire more new teachers, instead hopes to save $60,000 in salaries by June. And with TV, Compton expects to handle a 100% enrollment increase in the next decade with a boost of only about 30% in its 90-member staff. Said one official: "We figure that saving the costs of 60 bodies is well worth it." Compton plans to build a TV wing, with six windowless, air-conditioned classrooms...