Word: americans
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Dates: during 1950-1959
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Rambler's success is writ large in the company's books. American's earnings after taxes for the first six months (ending this week) of its fiscal year will reach almost $35 million, or about $5.80 a share v. $26 million for the whole twelve months of the last fiscal year. For the entire year, American should earn upwards of $50 million, and may easily earn as high as $64 million, or about $11 a share, if Romney's confident expectation of 350,000 Rambler sales holds up. Earnings are piling up so fast that Romney...
When the new cars wheel on to the market, what will become of American Motors? Some Big Three officials who wrote off the compact and small foreign cars only two years ago now have their own pat answer. Says one high-ranking automan: "Give the Big Three a year or so in the economy market, and Romney will be flat against the wall." But such crapehangers underestimate Romney's passion and skill in battling against odds...
...makes his daily 20-mile trip from home to office in about half an hour (most of his colleagues would rather walk than ride with him), rolls up his shirtsleeves for the day's work. American Motors headquarters is perhaps the most relaxed and informal in Detroit's auto industry. Romney often leaves his modest office (18 ft. by 18 ft.) to drop in on executives down the corridor. When he has anything important to say, he is not above calling them together, sitting down on the back of a chair to give a talk...
Once, while attending a musical in Manhattan with other company executives, he drafted the announcement of a major reorganization of American's divisions between the acts, using an aide's shoulder as his desk. When the British Broadcasting Corp. recently asked him to take part in a small-car panel, and submitted a list of ten questions beforehand, Romney summoned an aide. The aide began briefing him, but Romney cut him short. "Never mind the answers," he said. "Just give me the questions...
Change in Thinking. One big question for which Romney thinks he can create his own answer is the fate of American Motors after the Big Three roll out their compact cars. "They will come in partially at first," says Romney, "at about the same volume at which we operate. But sooner or later they will be in on an all-out basis, with no holds barred. If we are right, they will have no alternative...