Renters urged to hold line on rents as GM price rise OK’d
The Fee Commission approved a 2.5 percent price increase for General Motors, the largest U.S. automaker, while noting the overall auto industry hike averaged 3.1 percent among the Big Four. The panel cited productivity gains and profits as factors. The commission also discussed rents under Phase 2 guidelines, warning rollbacks may be needed if increases diverge from new policy, and noted relief for firms with pre freeze special pricing.
MENTIONED IN THIS ARTICLE
Commission
Senate Moves Toward One Year Wage Price Power Extension
The Senate edged toward extending President Nixon's authority to control wages and prices through April 30, 1973, with a retroactive pay provision to aid workers and teachers. Debate centered on exemptions for small businesses and unions and a Cranston amendment to shield media from controls. administration support shifted to the retroactive pay plan.
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Washington
Nixon
Senate
John Sparkman
D-Ala
William Proxmire
D-Wis
Alan Cranston
D-Calif
59 Companies Seek To Increase Prices
The Price Commission approved price hikes for General Motors and four other firms. Notable increases include Aircraft 44 percent and Robertshaw Controls 3 percent, John Morrell 4.97 percent, and International Harvester 3.39 percent. The panel also set 38 new applications, bringing total to 303 from 255 firms.
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Washington
General Motors
Price Commission
Robertshaw Controls Co
John Morrell Co
International Harvester Corp
Ofer
Earnings Rise for Chicago Food-Marketing Worker
Hourly earnings for a Chicago food-marketing employee rose from 1.82 in 1957.59 to 2.84 in 196 a 56 percent increase.
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Chicago
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