Through the gates of the high-school football field in South Bend, Ind. one sunny day last week streamed 8,500 Studebaker Corp. employees, all members of C.I.O. United Auto Workers Local 5. They had come to decide on a matter of life and death for Studebaker and a matter of considerable importance to themselves. The company had lost $8,925,800 in the first half of this year, was still suffering heavy losses. To turn the tide, Studebaker asked the union to take a 14% cut in wage rates.
The final vote was a triumph for...
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