MANAGEMENT: Back-Door Raises

A back door to wage increases, without regard to present ceilings, was thrown open last week by a panel of the Wage Stabilization Board. Last February the board ruled that increases in pension and welfare benefits be restricted along with ordinary wage increases. But Economic Stabilizer Eric Johnston hastily asked the board to think again. In a majority report, the board's experts did so. They recommended that, with certain minor exceptions, no restrictions be set on new pension plans up to the "limits of accepted industrial practice" (e.g., those of American Telephone & Telegraph, General Motors, etc.), and that...

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