Word: hike
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...Fertile Void"). What emerges is an allegory on whatever the reader chooses-the perversity of man, the bright illusion of love, the red-eyed aurochs of war. Dotted throughout the book are moon-mad digressions-a plan to enroll farm boys in the Joy Scouts of America, hike them into Harlem for instruction in reefer rolling; a 14-page hypothesis, mostly in verse, on why Ireland is underpopulated (it wasn't the snakes, Goodman theorizes, that nearsighted St. Patrick banished...
...statisticians, supernumeraries and just plain hangers-on that the cost to management and labor was estimated at nearly $25,000 a day. President Eisenhower tried to set the tone for negotiations by warning again that both sides must show "good sense and some wisdom" to avoid an inflationary wage hike (see NATIONAL AFFAIRS). But both sides had hardly started negotiating when they fell to battling...
Furthermore, Cooper had an answer for Steelworkers Union President David Mc Donald's claim that a wage hike carved out of profits or dividends would add new purchasing power to the economy. The stockholders, said Cooper, need the money worse than the workers. He cited a 1953 survey which showed that 53% of U.S. Steel individual stockholders had an average annual income from all sources that was actually less than the average annual income of the Steelworkers...
...most Wall Streeters and nearly all stockholders like splits. A split produces an optimistic psychology among investors; it seems to promise that things are going well with the company, especially when the split is accompanied by a hike in the dividend. Corporations like splits because they keep the price low, broaden the market for their securities. Many an investor would rather buy 100 shares at $15 a share than ten shares at $150. Atlantic Refining was selling at $86 and losing stockholders when it split its stock in 1952. In the following few months its list of stockholders increased...
...industry angrily disagreed. Chairman Avery C. Adams of Jones & Laughlin said that from 1940 to 1958 the industry's labor costs per man-hour increased 298%, while its shipments of steel products per man-hour increased only 30%. Thus, every recent wage hike kicked off a steel price boost (see chart). Adams and fellow executives contended that profits are still "inadequate" to support a wage hike. Even at last year's relatively high levels, steel's profits-to-assets ratio ranked 27th among the nation's 41 key industries. The "obvious" solution to wage-push inflation...