Word: breakeven
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Other parts of A.M.C.'s business have been doing well. The Jeep division is setting sales records, and at year's end AM General had a huge backlog of orders for buses. As for passenger cars, cost cutting has reduced A.M.C.'s breakeven point, some observers estimate, to fewer than 300,000 autos a year. The company may be able to sell at least that many if predictions come true that total car sales in the U.S. this year will hit 11 million-but in the past few weeks that has become a giant "if." American Motors...
...million cars. Volkswagen lost $312.5 million, and German Ford $68.3 million; General Motors' Opel subsidiary, thanks to nimble financial management, was able to stay in the black with a profit of $2.4 million on sales of $1.8 billion. "The big producers were all stuck with high breakeven points [largely because of high labor costs and excess plant capacity] when the recession struck," says Lutz, who moved to Ford from Bayerische Motoren Werke (BMW) in 1974. "Now the arithmetic is coming right...
...rain, California's usually green fields are burned brown. Wildlife, starved for fresh sprouts, is migrating to the few irrigated areas. Fruits and vegetables have been withering for lack of moisture. Many cattlemen faced with skyrocketing hay prices are selling their stock for slaughter now at below breakeven prices. So far, California growers and cattlemen estimate their losses at $410 million-and the cost is rising daily. Governor Jerry Brown has declared 29 agricultural counties disaster areas, which will allow the hard-pressed farmers to apply for emergency state and federal...
...week to finance, Townsend decided to reduce it fast-first by virtually stopping production, then by initiating the cash rebates on new-car sales.* Chrysler lost so much money in the last three months of 1974 because sales and production were running far under the company's breakeven level of some 275,000 cars per quarter (current quarterly production rate: about 140,000 cars). But the company's backlog of unsold cars is now gradually approaching a normal level of 80 days or so, which means that Chrysler could be able to increase production modestly this spring...
...once held. Under the reform, the Post Office becomes an independent agency, establishing rates and appointing a staff free of political patronage. A 2? increase in the first-class mail rate is expected during the first year of operation, as the agency takes steps toward putting itself on a breakeven economic footing. The reformers hope the law will end the past inefficiencies of the Post Office. To symbolize the change, the new agency shed its old Pony Express emblem for a stylized eagle...