Word: gap
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Long since eliminated from the stalemate were such negotiable issues as wage hikes, on which the gap remained only a cent an hour. The big difference was one of principle, to wit, the industry's need for more flexible work rules so that the mills can use their work forces more efficiently to cover the costs of higher wages and higher benefits. Snapped R. Conrad Cooper, U.S. Steel Corp. vice president and top industry negotiator: "The basic position of the steel companies is not about to crumble whether or not there is an injunction." And even though auto assembly...
...Water Gap. Brown has many reasons to duck all-out candidacy and none to proclaim it at this time. In his short time in office, he has pushed the newly Democratic legislature into remarkable action e.g., approval of the $1.8 billion water-resources development program (TIME, June 29), a $61 million income tax boost appropriated to close the budget gap. He has helped abolish California's party-damaging system of primary-ballot cross-filing, has brought stability to the long-fragmented Democratic Party. But his job has just begun: the statewide water-development plan, for example, must still...
...shipments to the U.S. have gone on growing. Last week London newspapers reported that for the first time in the 20th century Britain is now selling more to the U.S. than it is buying. Taking all items into account (exports, military costs, economic aid), the famed dollar gap has been closed; since 1950 Europe has increased its pile of gold by $8 billion, and the outside world as a whole has managed to amass short-term credits in the U.S.-all constituting potential claims against gold-of $15.6 billion. Last year about $2 billion in gold flowed...
Merchandise imports are greater than exports, and they are growing faster than exports. In particular, Canada's deficit with its biggest trading partner, the U.S., is growing. The huge flow of long-term U.S. investment, which since the war has filled the trade gap, is slackening. At the same time, outgoing dividends are increasing in proportion to the cumulative total of investment...
...German degrees, gave notice that soon they may give up. Sternly, the rectors rejected invitations to join Leipzig's birthday celebration, which to them seemed only a wake. Leipzig's rector, a complaisant agriculturist named Georg Mayer who took over in 1948, seemed undismayed by the widening gap between his institution and those of West Germany. Further widening, said he as Party Boss Ulbricht beamed, "is an objective necessity...