Word: work
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Dates: during 1960-1960
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...Ford is willing to lay out $363 million for these advantages, its offer came at a bad time for British morale. Their auto industry's lucrative export business to the U.S. has been sharply cut by U.S. compacts. British Motors was forced to put 70,000 on short work weeks; Standard-Triumph had to dismiss 1,700 of its 8,000 workers; British Ford slashed overtime for 30,000. Pleas to the government to spur domestic sales by easing tight credit restrictions have been turned down by Chancellor of the Exchequer Selwyn Lloyd, who ruled that any encouragement...
...nation's pockets of economic blight are caused by the fact that industries that once provided the major payrolls have either left the area, collapsed or severely cut back their work force under the stress of technological change or competition from more efficient plants elsewhere. The textile industry has moved out of New England for the South's lower wages. In Pennsylvania, West Virginia and Kentucky, automation in the coal mines and a national shift from coal to oil and gas have thrown thousands out of work. Modernization of the steel industry, abetted by a slump in steel...
...only saving infusions of new industry. While they deserve a helping hand from the Government, chiefly in the form of loans and grants to encourage new plant building and new public facilities, it is a fact that Government help can do little, good unless depressed areas first go to work to cure their own problems. Many have already arrested the decline, even made healthy comebacks by aggressively working to attract industry, but others are so badly depressed that they lack even the "seed money" to make a fresh start...
...fund authorized to make loans to nonprofit development agencies for the construction of new plants in distressed areas. Result: the plan has attracted 389 plants (including Radio Corp. of America, Fruehauf Trailer and Chrysler Corp.) providing 106,000 factory jobs, encouraged the expansion of 700 existing firms, put to work 391 idle plants...
...working in partnership with the state, local businesses and-most important-with the workers themselves, local communities can do at least as much as Lawrence, Mass., which, by careful planning and aggressive selling of its assets, has cut its unemployed from 25,000 to 4,500 since most of its textile mills left. All the areas that have worked on curing their own problems agree on one basic fact: Government aid, if it is forthcoming, will not work without the will of a city to revitalize itself...