Business: Peace for Three Years

The auto industry virtually assured itself of three years of labor peace last week. After a quickie (six hours) walkout, Chrysler signed the standard three-year contract with the U.A.W. embodying the Reuther version of the guaranteed annual wage. Like Ford and G.M. before it, Chrysler agreed to establish a fund to guarantee its 139,000 employees 65% of their regular pay for 26 weeks. It also promised minor raises for increases in efficiency and the higher cost of living. Cost to Chrysler: an estimated 20¢ an hour per employee, about the same as at Ford and G.M.

The next day, 22 hours after...

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