Word: auto
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Some firms look even farther afield and try to recruit workers outside their region. But often the chief obstacle to attracting new employees is the high cost of housing, so some potential employers have tried to compensate. An auto-parts division of Textron based in Dover, N.H., gives some of its new white-collar employees short-term "bridge" loans for housing at below-market interest rates. Last year the state's average home price was $136,000, nearly 60% higher than the U.S. median...
...masks and a .22-cal. rifle. They drove to a late-night grocery, where Cooney held up the owner for $140. Buoyed by their success, the boys rode around looking for someone else to rob, shooting out the windows of about six empty cars before pulling alongside an auto parked on a deserted street with a couple inside...
...Mainers of Letourneau's Used Auto Parts are not the type to be seen at L.L. Bean. They live in a town that is inappropriately named Miracle City, a collection of raw shacks and trailers hard by an automobile junkyard whose owner, Lucien Letourneau, is a down-East version of Big Daddy. Chute skillfully spot-welds an assemblage of impressive vignettes and character sketches, but she has difficulty hooking up the narrative drive...
Another factor in Ford's surge is a new spirit of cooperation between labor and management. Last September the United Auto Workers union, which represents 104,000 Ford employees, agreed to accept a contract that calls for a moderate average wage increase of 3% this year. The pact includes concessions by both sides. The union said it would help Petersen achieve his goal of creating more Japanese-style teamwork. In exchange, Ford agreed to a provision that bars the company from laying off workers in all but the sharpest of economic downturns. Says Ford Executive Vice President Philip Benton...
...always, Ford's chief nemesis will be GM. With 1987 sales of $102 billion, GM remains 41% larger than Ford. Auto experts say GM could rebound sharply with its planned line of stylish front-wheel-drive cars called the GM- 10 series. "General Motors is waking up," says Auto Analyst Maryann Keller of Furman Selz Mager Dietz & Birney. "Ford is going to face tough competition in the 1990s...