CBS Evening News for Wednesday, Nov 23, 1983
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(Studio) Report introduced
REPORTER: Dan Rather
(NYC) Nonunion Nucor steel company's success and implications for organized labor's future examined. [Nucor president Ken. IVERSON - notes company `s approach to hard economy times.] Wage cuts for both workers and management during recession described. [WORKERS - note all suffer as well as profit; explain.] NUCOR's profit/loss sharing plan noted contrasting to traditional approach of United States companies [IVERSON - believes most executives are overpaid in bad years; explains.] Executive wages versus profits for nation's major corps. last year outlined; details listed on screen, discussed. Greyhound's labor problems and auto industry's attitude cited as exs. [Auto analyst Maryann KELLER - anticipates banner year for executive compensation.] Labor's response last year to Western Airlines' request for pay cuts followed by management's bonuses recalled. [Teamsters spokesperson Ray BENNING - notes credibility gap at Western.] Western's president mentioned resigning as result. [New Western president Larry LEE - describes management's pay cut, wage freeze.] [BENNING - feels employees are willing to work with management under such conditions.] General need for cooperation between management and worker considered.
REPORTER: Jane Bryant Quinn