Word: hike
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JAPAN, too, has been exceedingly effective in quelling its raging inflation, which was largely fueled by the sudden hike in world oil prices. Owing to stern fiscal and monetary measures, the rise in living costs, which in fiscal 1973 were leaping upward at an annual rate of 25%, has been more than halved. But the fight against inflation pushed Japan into its deepest postwar recession. Production has plunged 20% since the start of the oil crisis 18 months ago. In a country where lifetime employment has long been the accepted rule, the jobless rate has inched...
...trial of Big John Connally, which opens this week in Washington. Williams is defending Connally, three times the Governor of Texas, and Secretary of the Treasury under Richard M. Nixon, against charges that he accepted a $10,000 bribe in return for using his influence to secure a 1971 hike in milk-price supports. The lawyer heading the Government's three-man team of prosecutors is Cyclist Tuerkheimer. Outwardly, the case seems to be a classic example of a storied defense attorney pitted against an obscure Government lawyer. Occasionally, say legal experts, such mismatches have helped give criminal lawyers...
...issue of Orbis, a quarterly journal of world affairs, Taylor maintains that in the next period of world development the U.S. will find that "the main threats to our security, at least in their initial stages, will take nonmilitary form." As a prime example he offers the 1973 hike in oil prices by the OPEC nations, which he calls "a kind of economic Pearl Harbor in which warnings bearing on its imminence were either ignored, misread, or filed without reaching the officials responsible for action...
...contract for its members. The problem of money was solved rather easily when the young doctors, who currently earn between $13,500 and $19,200 a year, agreed to drop their demands for an 11 % increase in salary. They settled with the League of Voluntary Hospitals for an 8% hike instead...
Solutions are needed fast. In New York, for example, the Argonaut Insurance Co., which was denied a hike of 196.8% in January (after a 93.5% rise last July), plans to cancel all physician policies on July 1. No other company has volunteered to take over for Argonaut, which insures most of the state's doctors. In Maryland, a court order is now preventing the St. Paul Fire & Marine Insurance Co., the state's major malpractice insurer, from carrying out its plan to cancel all physician policies. Similar crises exist in North Carolina, Michigan, California and Florida...