State of Business: What Walter Won

The settlement that Walter Reuther was in the process of wresting from General Motors last week promised in many ways to be the best bargain for his United Auto Workers since World War II. By Reuther's own estimate, he won an average 12¢ hourly take-home raise and he drove much closer toward his goal of a guaranteed annual wage. Altogether, counting wage raises and new benefits, G.M.'s labor costs would go up an estimated 20¢ to 25¢ an hour in the first year of the contract. Reuther crowed that the deal was...

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

Learn more about the benefits of being a TIME subscriber

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