Wages and Prices What Comes Now
John Pierson refers to the 1967 wage price guideposts as sick with inflation and analyzes whether the guidance will survive amid a possible wage price spiral. The piece explains how productivity, wages, and prices should move together, notes exceptions for minimum wage and expanding industries, and discusses how price adjustments balance overall inflation risks. It cites 1962 council aims and chronicles wage and price dynamics under gradual economic cooling and policy targets.
MENTIONED IN THIS ARTICLE
John Pierson
United Press International Washington
UPI
Junior
Johnson
Inflation and guideposts clash in wage debate
Inflation from 1965 to 1966 surged 33 percent, eroding buying power and exposing the misalignment of wage guideposts with price stability. The administration balked at a 6.5 percent target, proposing a productivity-based standard while labor groups push for higher gains amid rising profits and sluggish real wages.
MENTIONED IN THIS ARTICLE
U.S
Mint
Prices and wages 1967 outlook for inflation and policy
The administration urges restraint in wage and price moves as unions push for sizable raises. Teamsters demand about seven to eleven percent, some railroad and auto unions seek up to 20 or 30 percent, while business fears a profits squeeze from higher labor costs. Prices may rise 2.5 percent in 1967, with wage growth around five percent, amid cooling signs and a proposed tax increase to curb inflation. The risk remains a wage price spiral possibly requiring a recession to break.
MENTIONED IN THIS ARTICLE
Sneamcia
Senate-House
Teamsters
Johnson
East Iowa Business Notes Change Hands in Sigourney and Van Horne
Sigourney immovable changes include Sigourney-Mr. and Mrs. Dean Icenbice buying into Wyllie Insurance with C M Wyllie maintaining a stake while expanding law practice. The Ic enbices will run a farm south of Sigourney. Joe Davidson to operate Maidrite cafe April 1, replacing Mrs. Keith Clubb who will retire. Jerry Vondracek opens Jerry's Food Market after remodeling Boyse’s Clover Farm. In Van Horne Eugene DeNeve sells Gene's tavern to Carrie Elliott of Cedar Rapids and short closing line mentions an antll the antiad Tittle Car.
MENTIONED IN THIS ARTICLE
Sigourney
Dean Icenbice
Wyllie Insurance
C. M. Wyllie
Icenbices
Joe Davidson
Maidrite
Eagles Lodge
Keith Clubb
Jerry Vondracek
Boyse
Clover Farm
van Horne
Eugene DeNeve
Carrie Elliott
Cedar Rapids
Eastern Iowa Stocks and Local business updates
Dorothy Anthony of Cedar Rapids to operate the Eastern Iowa Stocks tap. Francis J au Pon Jones resigns as president and CEO of Sirneturrassurance and Farmers Trust. Obert L. Puartamen to succeed as director with Roy Larson named successor. Harold Martin remains cashier. Robert Burke relocates from Dubuque to Manchester to operate Sunray DX on East Main. Mildred Cox buys Banes Cafe in North English. Deer Horn cafe opens near Sigourney with Bob and Irene Tremmel as owners. Theresa Rooney sells Waukon coffee shop to Leonita Bresnahan. James Klenske, longtime Sullivan drug store pharmacist, buys stock and building. Francis Sullivan had owned it since 1944.
MENTIONED IN THIS ARTICLE
East Main Street
Mildred Cox
Banes
Keith Banes
Sigourney
Bob
Irene Tremmel
Waukon
Theresa Rooney
Leonita Bresnahan
Miss Rooney
Allamakee
James Klenske
Sullivan Drug Store
Myrl Sullivan
Francis Sullivan
Business News in Brief Highlights Cedar Rapids IBM and Meade Johnson Leadership Moves
Roger J. Kelly named manager of IBM Cedar Rapids branch after joining IBM in 1958 and serving as Midwest regional mate before. Dr. Roger B. Lux named Mead Johnson Laboratories vice president for marketing. over 1965 he led corporate product planning across multiple divisions. Seminar at Town House motel on financial planning with Alvin G. Keyes and Richard J. Ryan. J C Penney reports 1966- year earnings at 79 million dollars or 3.17 per share. Iowa February earnings total 23,248,984, down modestly from 1966. B Gale Knochenmus joins Franklin Life Insurance 1967 million-dollar conference. D L Donovan wins Tappan Top Ten Sales contest earning a Florida trip. American Stock Exchange February price-earnings ratio noted. Investors Diversified schedules a three-day Construction contract seminar in Cedar Rapids for sales staff and managers.
MENTIONED IN THIS ARTICLE
Roger J. Kelly
Cedar Rapids
International Business Machines Corp
Kelly
IBM
Detroit
Roger B. Lux
Hopkinton
Cornell College
Mead Johnson Laboratories
Barrington
Chicago
Des Moines
Joliet
Quincy
Rockford
Davenport
Waterloo
Town House
Alvin G. Keyes
Merchants Bank
Richard J. Ryan
B. Gale Knochenmus
Franklin Life Insurance Co
D. L. Donovan
Marion
Florida
Donovan
American Stock Exchange
Jits Exchange
Investors Diversified
Inet Neeeae Inc
American Re insures declares 40 cent dividend
The board of directors declared a 40 cent dividend on common stock payable March 20 to stockholders of record March 10.
MENTIONED IN THIS ARTICLE
The
NEW York — American
Also Mentioned on This Page
Council of Economic Advisers
Sam Smith
Jones Co
Sam
East Iowa Business Notes
Iowa
Dick McBride
Chiff
Construction Company
2Nd Ave
Burler
FSLIC
Comraxy
South Baoan
Alcoa
Kitt Peak National Observatory
Cleveland Works
Tucson
Business News
J. C. Penney Co
Minneapolis
Sands Printing CO
Sexth Street
3Rd Street
1St Ave
Roosevelt Hotel
Cosco
Pioneer Little Co
Office Outfitters
First Avenue SE
Wayne Schultz
Hayden, Stone Incorporated
New York Stock Exchange
First Ave
Cedar Rapids, Iowa
Night Eye
Ana Vt
Ams Fandel Inc
EY Oye
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