Word: auto
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...discussing society's broader issues, they are too often simplistic and uninformed, and they rarely understand that government's stakeholders have different interests from their own company's shareholders'. Moreover, they tend to be authoritarian, and they aren't often very tolerant of contrary opinions. Lee Iacocca, the charismatic auto executive who did great work at Ford and Chrysler, was one CEO who recognized his limitations. Following publication of his autobiography, Iacocca, which sold 7 million copies, he flirted briefly with making a run for the presidency. In the end, Iacocca decided against it, realizing he would never have...
...boss was a genius. He was an eccentric. He was no prince in his social attitudes and his politics. But Henry Ford's mark in history is almost unbelievable. In 1905, when there were 50 start-up companies a year trying to get into the auto business, his backers at the new Ford Motor Co. were insisting that the best way to maximize profits was to build a car for the rich...
...same year, Henry Ford shocked the world with what probably stands as his greatest contribution ever: the $5-a-day minimum-wage scheme. The average wage in the auto industry then was $2.34 for a 9-hr. shift. Ford not only doubled that, he also shaved an hour off the workday. In those years it was unthinkable that a guy could be paid that much for doing something that didn't involve an awful lot of training or education. The Wall Street Journal called the plan "an economic crime," and critics everywhere heaped "Fordism" with equal scorn...
...labor organizers, whom he saw as "the worst thing that ever struck the earth," and entirely unnecessary--who, after all, knew more about taking care of his people than he? Only when he was faced with a general strike in 1941 did he finally agree to let the United Auto Workers organize a plant...
...CITROEN 7CV This was the first successful front-wheel-drive car, a revolutionary feature adopted for an American auto in 1966 for the Oldsmobile Toronado and now standard on most cars...