Word: autos
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Dates: during 1980-1989
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...hopes. Saab last week agreed to sell General Motors a 50% interest in its car-making operations, which had 1988 sales of $2.6 billion, for some $600 million, plus a promise that GM will invest another $100 million. Saab, which also makes trucks and aircraft, will spin the auto holdings into a subsidiary to carry out the deal...
...latecomer to the Saab wooing game, which began when Ford started courting the company earlier this year. After the collapse of those negotiations, auto-industry analysts expected Italy's Fiat to be the winning suitor. For Saab-Scania, which lost $123 million on its car-making operations in the first half of 1989, the advantage of the deal was access to GM's deep pockets. GM will gain badly needed production capacity at Saab's five plants in Europe, plus a stronger position in the U.S. and European luxury-car markets...
...when a disagreement with a boyhood chum over the description of a sunset ended in a fistfight. "It was my first literary skirmish," he says. Born and raised in Michigan, McGuane was introduced to the outdoors and a stern Irish work ethic by his father, an auto-parts manufacturer. McGuane early on developed an "adventurous image" of what a writer should be from Horatio Hornblower novels and books about World War II. "I saw myself on the deck of an Amazon steamer or something," he recalls. At Michigan State, McGuane edited a literary journal and shunned the budding hippie drug...
...Harvard professor of economics and philosphy will receive a $200,000 prize from an Italian auto corporation for his contribution to the study of ethics, the corporation announced earlier this week...
Since those heady days, a battle-weary Pickens has abandoned the U.S. takeover field and gone hunting in Japan. But he has been stymied in a drive to win four seats on the board of Koito Manufacturing, a Tokyo auto-parts maker in which he controls a 20% share. Pickens says Koito has hired Wall Street consultants to advise the company on how to keep him at bay. Meanwhile, a federal appeals court in Philadelphia last August reinstated a class-action suit that Phillips Petroleum shareholders brought against Pickens in 1984. The plaintiffs claim that the value of their stock...