Word: boost
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...should be paid a full week's wages; if he is laid off in advance, his state unemployment compensation should be supplemented by G.M. so that he can maintain his normal standard of living. In addition, U.A.W. is asking for a 5.3?-an-hour wage increase, a boost in the 2½% annual wage credit for increased productivity, better pensions, a better health plan and other fringe benefits. Estimated total cost to G.M. : as much as $1 billion yearly. G.M.'s Harry Anderson said the first meeting was harmonious, that the company will do "the best...
Construction on the Pan American Highway to Panama, which has been sputtering along on a lean budget, got a high-octane boost last week. On the recommendation of Vice President Nixon, who toured Central America in February, President Eisenhower asked Congress to accelerate the U.S. contribution for completing the 3,200-mile Laredo-to-Panama road. Earlier, the President had budgeted $5,750,000 for the highway for the next fiscal year; now he wants $75 million for the next three years. Matched by half that sum from Central American countries, the stepped-up appropriation would be enough, Ike thought...
...contract, Avery recognized the Teamsters as bargaining agent for Ward's 15,000 warehousemen (not affected are some 37,000 clerks and retail employees). Further, he agreed to boost the warehousemen's wages 3? to 5? an hour. In addition, the contract calls for a maintenance-of-membership arrangement, sets up grievance machinery and formalizes current vacation benefits. Calling off the strike threat, Dave Beck announced that the union would cast its proxies for Avery...
...finished petroleum products, last year was able to produce 90% of the products at home, due largely to some $71 million invested by Caltex, Standard-Vacuum, Union Oil and Tide Water. By agreements signed with Armco International Corp., Japanese steelmen have been able to cut costs 5% and boost strip steel output by 90%. In the electronics industry, RCA's royalty of less than 2% on each TV set produced in Japan has saved the Japanese industry seven years and millions in research...
...tightening up, pressing for shorter terms on private loans. Last week a group of top insurance executives recommended that VA require a 5% down payment on loans and that it shorten the terms to 25 years; they also wanted FHA, which already requires 5% down on its loans, to boost payments...