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Newspaper
Independent
Location
Long Beach, California, United States of America
Date
Dec 09, 1971
Page
5
New York UPI reports that natural Christmas trees are exempt from price controls as raw agricultural products, while trees that are aluminum, painted, fireproofed, or otherwise treated remain subject to controls. The ruling by the Internal Revenue Service specifies that only untreated natural trees can be sold without price limits.
The Executive Council of the California Labor Federation AFL-CIO criticized President Nixon for Phase 2 of his economic program calling it inept unfair and unworkable. They accused the administration of theatrics and placing labor interests at a disadvantage while blaming the labor movement as a scapegoat if the program fails. The council's Los Angeles statement followed Nixon's AFL-CIO Miami Beach appearance noting theatrics over content. DETROIT UP I says UAW will halt talks on a four day work week at Chrysler unless tentative scheduling experiments begin at least in one plant.
Washington reports the Cost of Living Council eased price notification rules for firms hit by volatile raw material costs, excluding those with over 100 million in annual sales from mandatory advance Price Commission approval. The move aims to shield food and clothing industries from abrupt price swings while continuing to police inflation.
Henry Ford II, noting some Phase 2 policies have worked, expects the 1969 70 recession rebound to accelerate in 1972. He also questions Pay Board decisions and warns that unresolved cost pressures could blunt inflation control and profits, harming expansion and long term growth.
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