Word: auto
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...ways reflect those of its signature car company. The task will fall to new DaimlerChrysler CEO Dieter Zetsche, 52, who has already worked miracles in overhauling the once disastrous Chrysler division. "In the land of the blind, the one-eyed man is king," says Peter Schmidt, a British-based auto-industry consultant. "Zetsche is a brilliant choice, but it will be very arduous to get Mercedes back to where...
...rapidly changing world. The prosperity of both company and country has been built on engineering excellence and high-quality manufacturing. Mercedes stumbled, as Germany is stumbling, because of external pressures: in today's fiercely competitive global marketplace, there's little margin for error, especially for high-cost producers. With auto manufacturers worldwide racing to produce ever better cars ever more cheaply, Mercedes slipped because it became too complacent about its technological prowess, took on too big a workload and rushed out new models before they were ready. "They partly got into this mess by resting on their laurels," says consultant...
...character. The imperious Schrempp, by contrast, continued to lurch from crisis to crisis until the Daimler board showed him the exit, three years before his contract expired. DaimlerChrysler stock soared about 10% on the news. The change of leadership "dramatically alters investor perceptions," said Merrill's London-based auto analyst Stephen Reitman, who upgraded the stock to neutral...
...that "our costs in all parts of the value chain are significantly higher than those of the best competitors" and that the company was dragging around too much production capacity. Becker, the former BMW economist, contends in a book published last month that the glory years of the German auto industry are history and that as much as 25% of the 800,000 auto-manufacturing jobs in the nation will be cut over the next 10 years as suppliers increasingly shift production abroad. The book, titled Crash Course, has attracted wide attention in Germany, with some reviewers calling it overly...
...they ruled from the shadows, only venturing out at night, clad in black masks, nervously keeping a finger on the trigger even when they reluctantly agreed to talk to a journalist. But on a recent day in Gaza City's Zeitoun neighborhood, two white jeeps roll up to an auto shop trailing the green flags of Hamas. The burly, bearded drivers step out, clad in black T-shirts, olive pants, and matching green Hamas baseball caps decorated with the opening verse of the Koran. Since Israel's withdrawal, these gunmen of Hamas's Izzedine al-Qassam Brigade can go about...