Word: borgward
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...Carl Borgward is a builder of genius, a clumsy manager of a large enterprise, a dilettante in financial matters, and a lovable human being...
Thus Hamburg's Die Welt, in an atypically Teutonic blend of business judgment and sentiment, last week summed up the exit of the grand old gadgeteer of the West German auto industry. With his Borgward auto complex some $48 million in debt, 70-year-old Carl Friedrich Wilhelm Borgward agreed to give up his positions as president, sole owner, chief engineer and designer of the firm he founded 33 years ago and built into the sixth-largest automaker in Germany. The Bremen city council will take over Borgward and its subsidiaries to try to save the 19,000 jobs...
What chiefly caused Carl Borgward's downfall was the same disease that afflicted many another European automaker last year-an overestimate of the U.S. appetite for imports and a failure to foresee the rousing success of 1960 U.S. compacts. With U.S. sales of 6,000 Borgwards in 1958 and 8,500 in 1959, Borgward optimistically spent $24 million tooling up to sell 15,000 cars in the U.S. last year. He sold only 2,000, has an estimated 19,000 cars on hand, many of them shipped back from the U.S. Beginning last October, he got loan after loan...
...West Germany's Borgward Big Six, a luxury sedan. Price...