Word: rawness
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Dates: during 1950-1950
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...from the Changjin reservoir to the Sea of Japan. Some of the survivors wore colored silk scarves and hoods made from the parachutes of Major General William H. Tunner's life-saving airlift. Some of the marine dead were buried in a cemetery at Hamhung, under mounds of raw red clay topped by white crosses. The marine commander, Major General Oliver P. Smith, uttered a brief and moving tribute, chaplains of three faiths said prayers, a rifle salute rang out, a bugler sounded taps...
...other choice. G.M. loudly damned the order as "discriminatory . . . ill-considered," if not actually illegal. Said G.M.: "We doubt that this arbitrary action complies with the letter or intent of the price and wage stabilization act." If auto prices were frozen, asked the automen, what about the price of raw materials? And what about wage contracts, which in the auto industry are directly tied to the rising cost of living...
...Pontiac, Chevrolet and Cadillac dealers stopping sales, until further notice, of new cars shipped after the rollback order. G.M. did not say how long the freeze would last. But it looked as if it was done in hopes of getting the rollback rescinded or persuading Washington to roll back raw materials and wages as well. A price freeze, said G.M., would require an "equally arbitrary wage freeze" under the Defense Production...
...Potential. In going after the auto industry, the Government could hardly have given a better example of how not to control prices. The price stabilizers had completely forgotten the lesson of World War II that prices of an end product cannot be effectively controlled unless prices of all the raw materials going into it are also held down. To be successful in his attempt to control auto prices, Valentine would have had to control prices and wages all down the line-in fact, put the lid on a major segment of the entire U.S. economy. The auto industry consumes...
...stabilizers had assumed that the profits of the auto industry were big enough to absorb increases in wages and raw materials. It was true that the profits of some auto companies had been enormous. But they were big largely because of capacity production. With big cuts in auto production ahead, profits would drop far faster than the actual reduction in volume. In short, the Government's new venture into price control gave businessmen little confidence that the present control program would be a success...