UAW Chief Defends High Auto Prices on TV
UAW President Leonard Woodcock argued on Meet the Press that automakers cannot lower prices without losses, citing thin profit margins and relying on rebates to clear inventories. He warned of strain to the supplemental unemployment fund at GM and urged policy shifts on oil imports and tax rebates, criticizing Ford’s plan as unfair to main earners.
MENTIONED IN THIS ARTICLE
Washington
United Auto Workers Union
Leonard Woodcock
Woodcock
NBC
Meet the Press
UU Automobile Workers
General Motors
Ford Administration
Ford
GM chief sees bottoming out for auto industry
General Motors Chairman Thomas A. Murphy said the worst may be over for the auto industry after a year of slumps and layoffs. He expects thousands of GM workers to return in spring and forecasts nine million car sales this model year, aided by rebates and Ford led initiatives.
MENTIONED IN THIS ARTICLE
UAW
General Motors
Detroit
UPI
Thomas A. Murphy
Detroit News
Murphy
Ford
Chrysler
Brooke seeks repeal of fair-trade laws and FCC rate review
Sen Edward Brooke plans federal repeal of state fair trade resale price laws while House hearings probe AT and T rate hike. He argues repeal would curb inflation and boost competition as FCC faces massive rate increase filings and limited tools.
MENTIONED IN THIS ARTICLE
Brooke
Washington
Edward Brooke
R-Mass
House Communications Subcommittee
American Telephone and Telegraph Co
Torbert Macdonald
D-Mass
Federal Communications Commission
At&t
FCC
Congress
Macdonald
Tennessee
Nashville
Tightening Foreign Investment Rules Urged in U S
Sen. Harrison A. Williams Jr. proposes the Foreign Investment Act of 1975 to tighten U S oversight of foreign investments in major companies. He cites Arab oil wealth and calls for government watchfulness while maintaining welcome for investors. He notes rapid growth since the 1973 oil embargo and seeks financial independence to support peaceful solutions.
MENTIONED IN THIS ARTICLE
Washington
UPD
Harrison A. Williams Jr
D-N.j
Senate Securities Subcommittee
U.S
Williams
United States
Food stamp plan sparks across party uproar
The Money's Worth Administration backs a March 1 price hike on food stamps with a 30 percent net-income charge. Critics say the cuts would devastate 14.7 million recipients, hitting elderly and single households hardest and forcing up to 1.5 million to drop out.
MENTIONED IN THIS ARTICLE
Department of Agriculture
Congress
USDA
Senators seek limited wage and price rollback power for president
Senators William Proxmire and Adlai Stevenson plan to introduce a bill giving the President a limited method to force wage and price rollbacks. The proposal would empower the Council on Wage and Price Stability to require advance notice of increases, delay inflationary hikes by 60 days, and subpoena information. It would also allow direct presidential intervention in negotiations and request case by case authority from Congress if needed. The plan targets avoiding blanket government controls while preventing shortages and black markets. Proxmire chairs the Senate Banking Committee. Stevenson sits on it.
MENTIONED IN THIS ARTICLE
Washington
UPT
William Proxmire
D-Wis
Adlai Stevenson
D-Ill
Council On Wage and Price Stability
Congress
Northeastern States to Challenge Ford Oil Tariff in Court
Eight states including New York New Jersey Pennsylvania and Massachusetts plan to sue in Washington to block the $3 per barrel oil import tax arguing it exceeds 1962 Trade Expansion Act license limits and usurps Congress taxing power. Delaware and New Hampshire may join. a brief is expected later in the week.
MENTIONED IN THIS ARTICLE
Boston
Ford
U.S. District Court
Washington
Massachusetts State House
Francis X. Bellotti
New York
New Jersey
Pennsylvania
Connecticut
Maine
Rhode Island
Vermont
Massachusetts
U.S. House
Ways and Means Committee
New Hampshire
Delaware
Bellotti
Robert Graham
Warren Rudman
Congress
Meldrim Thomson
Thomson
New England
Denmark Banking and Pension Reform Insights
A reader discusses Finansbanken Denmark's deposit yields and stability under Danish regulation. The piece notes a 14 percent 18 month deposit yield for shareholders and 8 percent for USD accounts, with Denmark facing high inflation and unemployment. It also explains pension vesting rules under the reform law, detailing 100 percent vesting after 15 years and the impact of early retirement withdrawals.
MENTIONED IN THIS ARTICLE
Finansbanken
Copenhagen
U.S
Also Mentioned on This Page
AP Wirephoto
Senate
By Sylvia Porter
Proxmire
Stevenson
Banking, Housing and Urban Affairs Committee
Daily Investor
Denmark
By Don G. Campbell
Mexico
Finansbanken G
North America
Ministry of Commerce
Kingdom of
Europe
Midwest
Southwest
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