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Having faced bankruptcy roughly once a decade for the past half-century, Chrysler is no stranger to market adversity. But this time around, the merger really threw the team off its game. As the entire auto industry braces for a slowdown (General Motors and Ford are warning of sales declines beginning this month and into next year), Schrempp and his new Chrysler team are struggling to come up with a rescue plan...
...doors. Overproduction has forced the company to offer incentives of up to $4,000, tempting a loss on every sale. Chrysler even bungled its hottest product. There wasn't enough production capacity to meet demand for the wildly successful PT Cruiser, a hybrid retro minivan/station wagon. So even as auto-industry sales surged to a historic high last summer, Chrysler was beginning to hemorrhage...
...when Holden was forced to idle 20,000 workers at seven plants, Schrempp was blindsided--and then enraged. He got the news from auto analysts after the fact. The extent of the losses too had been belied by Holden's rosy forecasts. A Stuttgart insider acknowledges, "Our tools are excellent, but they are only as good as the information we were receiving...
...have no doubt that he knows everything there is to know about business. From near failure in 1991, the Detroit automaker had staged a sensational turnaround to become a market leader with its minivans, Jeeps and Dodge Ram trucks. More important, it had become the lowest-cost auto producer in the world...
...government can spend billions on a single space mission, but it cannot dedicate more funds for capable foster care? The average car buyer does more research on the auto he or she wants to buy than states do in researching potential foster parents. There are millions of people out there who have loving homes for abused and unwanted children. I hope your investigation opened a lot of eyes and shames the states into major reforms. Which is more important: our future--our children--or exploring the possibility of colonizing space? JANE MCFADDEN San Antonio, Texas...