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Wage Price Controls

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BUSINESS
May 28, 1990 | Associated Press
The government, business and labor have agreed to a renewal in August of the wage and price controls credited with reducing inflation, it was reported Sunday. The Economic Growth and Stability Pact, which went into effect Feb. 29, 1988, has been extended several times. The August renewal will be the last, however, the reports said. Next year controls will be lifted, they said. The government launched the controls to curb inflation that reached a record 159.2% in 1987.
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CALIFORNIA | LOCAL
November 26, 2010 | By Elaine Woo, Los Angeles Times
David F. Nolan, whose disgruntlement with conventional politics ? especially President Nixon's imposition of wage and price controls in 1971 ? drove him to launch the Libertarian Party with a small group of friends, has died. He was 66. Nolan apparently was stricken while driving his car Saturday night in Tucson and was taken to a hospital, where he died Sunday, Libertarian Party Chairman Mark Hinkle said. The cause of death has not been determined. Nolan also was known for his invention of the Nolan Chart, a visual representation of political ideologies that classifies people according to their attitudes on personal and economic freedom, two of the principles Libertarians hold dear.
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NEWS
July 31, 1989
Tortilla vendors, defying strict government price controls, raised the price on the staple by 45% in Mexico City, the government newspaper El Nacional said. The paper said its reporters encountered indignation among homemakers during a tour of tortilla factories over the weekend. The official price of tortillas is 275 pesos a kilo, or about 6 cents a pound. But over the weekend, tortillas were selling for 400 pesos a kilo in most shops, or about 8 cents a pound, the paper said.
SPORTS
July 20, 2005 | Helene Elliott, Times Staff Writer
Some people look at a salary cap and see a limit. Irwin Mandel, the Chicago Bulls' senior vice president for financial and legal affairs, sees a challenge. "You have to be very aggressive and creative," said Mandel, who has worked for the club for 32 years. "I try not to take no for an answer, and I sort of take it personally if the salary cap prevents the Bulls from doing something the Bulls want to do. "That's not to say that in 100% of the cases you can get around the cap legally.
BUSINESS
April 27, 1994 | MICHAEL A. HILTZIK, TIMES STAFF WRITER
The top movie in town was "Klute," starring Jane Fonda. "The Godfather" was being filmed on the streets of New York's Little Italy. Sonny and Cher were scheduled to do their popular Sunday night variety show, but they were about to get preempted because President Richard Nixon had a bombshell to deliver on national TV. That night, Aug.
NEWS
February 21, 1993 | EDWIN CHEN, TIMES STAFF WRITER
Physicians and hospitals in rural America, including vast areas of California and the West, would have their fees frozen under a price control plan being studied by President Clinton's health care reform task force, sources said Saturday.
BUSINESS
August 24, 1990 | PATRICK LEE, TIMES STAFF WRITER
Friends say George H. Babikian, president of Atlantic Richfield Co.'s refining and marketing unit, is a salesman's salesman. "He would have been a success selling retail clothing or widgets or whatever else," said Scott Jones, president of AUS Consultants in West Conshohocken, Pa., and a former director of energy studies at Arco. "He's a retailer at heart." These days, Babikian is doing a lot of selling. Since the Iraqi invasion of Kuwait on Aug.
NEWS
April 1, 1993 | SARA FRITZ, TIMES STAFF WRITER
Price controls did not work for Presidents Jimmy Carter, Richard Nixon and Franklin D. Roosevelt--or even for the ancient Babylonians. And if President Clinton tries to use them to curb the rise in health care costs--as some of his advisers are suggesting--he is also likely to meet with failure. That is the almost unanimous judgment of economists and market experts.
NEWS
May 5, 2001 | DOYLE McMANUS and RICHARD SIMON, TIMES STAFF WRITERS
Vice President Dick Cheney said Friday that there is little more the Bush administration can do to alleviate California's energy crisis this year and declared his opposition to further federal intervention in the energy market even if the problem threatens the nation's economy. "It's all you can do in the short term," Cheney said of the modest energy conservation measures President Bush announced earlier this week, such as turning down air conditioners in federal buildings.
BUSINESS
November 3, 1992 | CHRIS WOODYARD, TIMES STAFF WRITER
Knott's Berry Farm has frozen the wages of its 3,000 employees because of projections of continued poor attendance, officials said Monday. The attraction, a Buena Park landmark since the 1930s, informed its workers in meetings and a subsequent letter that, for an indefinite time, no raises will be granted. The wage freeze, the first in recent memory, took effect Sunday and applies to all employees, including top management.
SPORTS
February 5, 2005 | David Wharton, Times Staff Writer
As a trade union man from way back, Marvin Miller holds to traditional notions about the business of sport. Sitting in his Manhattan apartment with its panoramic view of the East River, Miller, the retired leader of the baseball players' union -- the man who helped create free agency -- scowls at the mention of a salary cap in hockey. "Artificially limit salaries? I can't think of an employer in the world who wouldn't want that," he said during a recent interview.
SPORTS
February 28, 2003 | Sam Farmer, Times Staff Writer
Emmitt Smith has the NFL's all-time rushing record, but he now lacks something essential to every football player: A team. Smith was released Thursday after 13 seasons with the Dallas Cowboys, cast aside in favor of Troy Hambrick, his younger, cheaper understudy. The move was expected -- Smith's salary-cap figure for next season would have been $9.8 million -- yet it's the highest-profile parting of the ways since San Francisco let go of Jerry Rice after the 2000 season.
NEWS
June 28, 2001 | JENIFER WARREN, TIMES STAFF WRITER
Despite disruptive blackouts and record increases in their utility bills, most Californians remain unconvinced that the state suffers from a shortage of energy, a Los Angeles Times poll has found. Instead, more than five out of six Californians believe power companies have manipulated the electricity market to boost their profits, the poll shows.
CALIFORNIA | LOCAL
June 21, 2001 | MITCHELL LANDSBERG, TIMES STAFF WRITER
As unwelcome as the killer bees, as hyped as "Pearl Harbor," the big, bad summer of 2001 officially arrived today and--did someone forget to turn out the lights? After months of dread, the Blackout Summer began on a curiously bright note. Despite several days of summer-like weather, there was barely a whisper about blackouts. The state that couldn't plug in a night light in January without tripping electrical shortage alarms managed to enter the summer with electricity to spare.
NEWS
June 20, 2001 | RONALD BROWNSTEIN, TIMES POLITICAL WRITER
When California Gov. Gray Davis testifies at a high-profile Senate hearing today, the issue formally on the table will be the expanded electricity price controls that federal regulators approved this week. But the session's political subtext will be the escalating struggle between Davis and national Republicans to determine where California voters look for solutions--and blame--for the state's power woes.
CALIFORNIA | LOCAL
June 20, 2001 | NANCY VOGEL and THOMAS S. MULLIGAN, TIMES STAFF WRITERS
The expanded electricity price limits approved by federal regulators could squeeze big energy traders but will probably not discourage power plant construction in California, electricity producers said Tuesday. Power plant owners and marketers said they had not had time to digest the 53-page order and thus could not say exactly how it would affect California and the 10 other Western states it covers.
NEWS
December 23, 1991 | ELIZABETH SHOGREN, TIMES STAFF WRITER
Armed opposition militiamen stormed government headquarters in the southern Soviet republic of Georgia on Sunday, sparking a fierce battle that raged for hours in the center of Tbilisi, the capital. At least 17 people were killed, according to Russian Television.
CALIFORNIA | LOCAL
October 26, 1991 | DIANE HAITHMAN and TRACY WOOD, TIMES STAFF WRITERS
The Los Angeles Philharmonic will cancel some of its programs in outlying communities and require its 70 administrative employees to take 3% to 5% pay cuts or have their wages frozen as a result of reduced financial support from the Music Center's fund-raising organization, officials said Friday. The cuts and freezes, which take effect Jan. 1, do not affect the orchestra's musicians, whose contracts are negotiated through the musicians' professional union.
NEWS
June 7, 2001 | RICHARD SIMON, TIMES STAFF WRITER
The new Democratic chairman of the Senate energy committee bluntly warned federal regulators Wednesday to act more aggressively to rein in electricity costs in coming weeks or prepare for Congress to intervene. As Sen. Jeff Bingaman (D-N.M.) turned up the political pressure on the Federal Energy Regulatory Commission, House GOP leaders scuttled an emergency bill designed to help power-short California through a difficult summer.
NEWS
May 30, 2001 | JAMES GERSTENZANG and DAN MORAIN, TIMES STAFF WRITERS
President Bush, venturing into California for the first time as president, stood firm Tuesday in his opposition to reining in wholesale electricity prices, prompting Gov. Gray Davis to announce that he likely will sue federal energy regulators within a month. In their much-anticipated private summit, Bush met with Davis for nearly 40 minutes in what was characterized afterward as a cordial, businesslike session.
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