Word: hike
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...whipping boys, the corporations. In the state legislature. Democrats and Republicans began talking about "the need for compromise.'' But as the weeks went by, 1) the Republicans tried to get a 1% increase in sales taxes, and the Democrats balked; 2) the Democrats tried to hike the debt limit to $50 million, and the Republicans balked. Last week, even though the evenly divided house (55 Republicans, 55 Democrats) finally okayed a Soapy plan to mortgage the state's $50 million veterans' trust fund to raise ready cash, the G.O.P.-run state senate turned it down...
...copy price from 5? to a dime. The Chicago Tribune now offers bargain advertising "zone rates" to hold fringe accounts, such as the corner grocer, who neither wants nor will pay for a citywide broadside. In Pasco, Wash., Sears, Roebuck began distributing handbill ads rather than accept the latest hike in ad rates. Moreover, newspapers, which once enjoyed a hefty 45% of the advertising pie, must compete with television. Last year alone, TV's portion rose 1% to 13% of the pie. The newspapers' 1958 share...
...demand in deference to industry's effort to improve profits. Last week the Senate antitrust subcommittee, headed by Senator Kefauver, held hearings on a bill introduced by Senator O'Mahoney to require companies in highly concentrated industries to give 30 days' advance notice of any price hike...
Industry knows that it would have a hard job making a price rise stick this year, therefore has stiffened its back to any wage hike that would force one. Washington gossiped that Dave McDonald has already been told privately just what he can get at the bargaining table: a package wage hike in the area of 8?-10? an hour. Some steel officials, though they insist publicly they would have to pass any wage boosts along in prices, privately admit that they could give the union a modest package without a price hike...
This year, for the first time, Cessna is forging ahead of rival Beech Aircraft ("across the street" in Wichita) as the No. 1 maker of private planes. Cessna announced first-half earnings for fiscal 1959 of $3.92 a share v. $2.45 last year, declared a 25% hike in its quarterly cash dividend to 50?. The company's conservative projection of the year's earnings: $7 a share...