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Show Labor Negotiations Slated for 1977 by Dean Alsup Review Staff Writer The new year could see some significant changes in Utah's labor market as five major union contracts, directly affecting over 17,000 Utahns, will expire in 1977. Contracts expiring this year include the U.S. Steel Workers of America, impacting over 7,000 workers at Kennecott Copper and U.S. Steels Geneva plant; United Mine Workers, over 3,000 Utah members; Communications Workers of America, approximately 3,400 Utahns; and the union of Oil, Chemical and Atomic Workers, with about 475 state employees under union contracts. Altogether, Kennecott Coppers Magna plant will have eight union contracts up for negotiation, involving some 6,000 copper company employees. Ross Thoreson, director of the states industrial relations council, believes the most significant effect of the upcoming contract negotiae tions will be the impact on wages within Utah. Already leading the e state in wages, union workers will push for long-rang- take-hom- even higher wages, Thoreson predicts, and pay hikes obtained by these union workers will spur other employees to seek raises. The average union wage in Utah is presently $7.20 per hour. in-sta- te Spurs Inflation It eventually comes down to a case of the haves and the have the director said. nots, Utahns not making the higher wages tend to be psychologically resentful of employers who pay less, and the situation leads to pres- sure exerted on them for Many Happy Returns 'C higher and higher salaries, he said. Also indicative of an inflationary trend, Thoreson thinks such wage increases will affect the economy of the entire state when union representatives ask for wage hikes ranging anywhere from 7 to 15 percent. Some 475 Oil Chemical and Atomic Workers are already negotiating salaries with management representatives. The national contract expires at midnight Jan. 8, and at that time, employees of Amoco, Phillips Petroleum, Chevron and Husky refineries have an option to strike. Management at the four refineries will be faced with meeting new wage demands. EFTS Could Spell Disaster for Consumers by Mary McMillan Gaber Review Staff Writer The electronic fund transfer system, though probably inevitable, is yet a mystery to many Utahns. Bankruptcies Filed Utah 1966-197- 6 seemingly endless credit, how will customers adapt to electronic banking? One financial sounselor believes establishment of an electronic fund transfer system at the check-ou- t Bankruptcies filed - US 1966-197- 5 $000 250 Number Filed 17001 Favorable Negotiations Union president Bob March said negotiations look favorable at this point as union members are confident that wage demands will be met before the Jan. 8 deadline. Kennecotts eight 18 locals will unions and enter into negotiations well ahead of the June 30 contract (See LABOR, page 4b) Yr. 66 67 68 69 70 71 72 73 74 75 76 Yr. 66 67 68 69 70 71 72 73 74 75 Accordinji to Administrative fice, I'.S, Courts Designed to do exactly what its name implies, (electronically transfer funds), the system conjures up images of an Orwellian future. Bankers understand the mechanics of the system well enough, but in an age of Of- counter of retail or grocery stores could be a catastrophe. I think bankers are naive about the daily realities of checking account customers, says Jinnah (See EFTS, page lib) '.& EFTS Gets Trial Run 7 a x m .i 0 u mm UMw mmm U I ' " L3 Consumers may have an opportunity to participate in an electronic funds transfer system next year, but probably only on an basis. experimental , The banking community has helped d with the State Senate write a bill called Consumer Funds Transfer Facilities (No. 44). The bill extends until 1979 the present moratorium on establishing a statewide system for consumers to transact business with financial institutions electronically instead of using paper (like writing case-by-ca- 'TfM se pre-file- checks). But the bill does allow institutions to begin establishing such a system on an For instance, if an experimental basis. institution wanted to install a point of sale terminal (a machine connected to the institution's computer, through which consumers could deposit or withdraw money from their accounts) in a grocery store, the proposal would be submitted to the Commissioner of Financial Institutions. The commissioner would conduct a public hearing, during which the institution Seed we say more ? would have to prove the experiment would help solve problems presently associated with such a machine, and would not create a monopoly. If the plan were approved, the institution would be required to file monthly reports with the commissioner. The proposed legislation deals strictly with consumer-activate- d electronic terminals. It does not effect business transactions among the banks and other financial institutions themselves. The members of the banking community in Utah and Idaho have already created an automated clearing house which, when operable, will electronically process financial transactions among the institutions in the two states. The purpose of allowing experimentation is to provide guidance to the commissioner about how to regulate the system, explained W. S. Brimhall, commissioner. He added the legislation does have a clause removing all local restriction in case a federal agency or Congress provides national guidelines regulating the electronic process. |