Word: automan
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Dates: during 1960-1969
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Built by Hitler to turn out "people's cars," the Volkswagen factory made only 210 cars before it went into war production, and after V-E day it was a shambles, 60% destroyed by Allied bombs. Nordhoff, too, was part of the postwar wreckage-a lifelong German automan who, because he had manufactured trucks for the Wehrmacht, was forbidden to work in the U.S. zone at anything except manual labor...
...Boom Slayer. Roche may have a touch of the typical automan's optimism, but other seasoned economy watchers agree that business is basically sound. "A recession is certainly not imminent," says Harvard Economist John V. Lintner. "Business is very strong." Echoes James Robertson, vice chairman of the Federal Reserve Board: "Too much is being made of the auto figures and the market performance. When matched with other straws in the wind, neither of these developments means much." Even so, Gardner Ackley, the President's chief economist, says: "Some of the tremendous exuberance has gone out of the economy...
...Defense (1951-53), who had first been offered the job in the Kennedy Administration. The Pentagon, highly fond of retiring Secretary Thomas Gates, sighed at the thought of educating the fourth Secretary in eight years, and some recalled the memory of the lackluster regime (1953-57) of another automan, General Motors ex-President "Engine Charlie" Wilson. (In an echo of Wilson's oft-quoted remark, a newsman asked McNamara: "Do you believe that what's good for Ford is good for the country?" Replied McNamara: "I shall act in the interest of the country. That...
...Every automan knows that the compact cars have boosted overall auto sales, but no one has been sure just what effect they have had on the market for standard-size cars. Last week Detroit had enough figures to show that the compact has been an unreserved blessing for some, a mixed blessing for others. Imports were feeling compact competition, were down from 11.5% of car sales in August 1959 to 8.7% last month. Items...