Word: automen
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Even within the Ford hierarchy, businesslike Bob McNamara was to many little more than an awesome name. Up daily at 6, he was at his desk in Dearborn no later than 7:30, seldom left before 6. He rarely attended the hail-fellow parties other automen love, even more rarely invited the brass to his home-a modest, $50,000 English Tudor house near the University of Michigan campus in Ann Arbor, far from the mansions of most other auto executives in Bloomfield Hills and Grosse Pointe. An ardent mountain climber, McNamara reads widely and well (current choices: The Phenomenon...
...wanted absolute control of the British company, in which it already owns 54.6% of the stock, to give "greater operational flexibility and enable us better to coordinate our European and American operations." Ford owns 99% of Ford of Germany, recently increased holdings in Ford of Canada to 75%. U.S. automen figure that overseas markets will grow faster than the U.S. market, since there is now only one car for every 32 persons in the world to one car for every three people in the U.S. With full ownership Ford would be able to move faster in the competitive race, coordinating...
...cars in dealers' hands, enough to last for about 56 days at the current rate of sales and 125,000 more cars than were on hand last year. To move them, automakers are offering bonuses to dealers as high as $250 for each sale, but many automen candidly admit that much of the steam was stolen from the cleanup drive by similar bonus sales held last spring...
...standard-sized cars, the industry would have used only 36,000 more tons of steel. Since the auto industry uses more than a million tons of finished steel a month the difference is too small to be important. A likelier explanation of Detroit's drop in steel buying: automen have restored their steel inventories, which were exhausted during the nearly 17-week steel strike...
...usual at this time of year, the key to much of 1960's economic health lies hidden in a vital question: How big a year will it be for autos? Automen traditionally make a brave try at guessing the answer on the basis of the latest sales, which rose 10.7% in January over last year. But this year the significance of the figures has been clouded by the carryover effects of the steel strike and the first full model year for the compacts. Last week Detroit cut back auto production, but that only thickened the clouds; automen blamed much...