Learning to Live with Phase II

THE wage-price freeze of Phase I was very clearon lobbyistscome before the commission fully armed with complex cost data, which Chairman C. Jackson Grayson Jr. promises to keep secret from curious competitors and union leaders.

Model Application. Chrysler asked for a 5.9% price hike to reflect the two-step wage increases of 7% that automakers will begin paying this week. The commission bounced the application and demanded more facts. Says Economist Robert F. Lanzilotti, a commission member: "We need to know more about their costs in terms of...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!