Word: buick
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When General Motors' Buick Division plucked its $20 million account from the hands of Manhattan's Kudner Agency after 22 years of going steady (TIME, Jan. 6), Madison Avenue buzzed that
...real casualty of the current recession may well be the middle-priced automobile. For years it not only provided transportation for the middle class but was a firm steppingstone on the stratified pyramid of personal material progress. From a Ford, Chevrolet or Plymouth, the buyer progressed to a Pontiac, Buick, De Soto or Oldsmobile, all the while hoping for, and perhaps eventually achieving, a Chrysler, Lincoln or Cadillac...
...market in 1955 to 29% last year-and their production decline this year has been phenomenal. Middle-priced car production so far in 1958 is down 51% from the same period last year, far more than other sections of the industry. Production of Oldsmobile has dropped 44%; Buick, which was once in third place, 40%; De Soto 77%; Mercury 64%; Pontiac 31%; Dodge 70%. Ford's middle-priced Edsel, brought onto the market last year, is a flop...
...MIDWEST is neither as gloomy as New England nor as bullish as the South. One-industry towns such as Flint, Mich., where General Motors' Buick division laid off more than half its work force, have helped peak Michigan's unemployment to 415,000, or 14.3% of the labor force, and the highest figure since the war. Lorain, Ohio, where U.S. Steel laid off 3,500 of its 11,000-man National Tube Division, is also in deep recession. Peoria, Ill., where Caterpillar Tractor Co. laid off 6,000 of its 23,000 men, is getting ready to dispense...
...been scared enough to go back to oldfashioned, aggressive kind of selling they once knew. An Indianapolis businessman, in the market for a new auto, gave his name to three salesmen at the January auto show; not one ever called him. Says Warren Carmical, general manager of a Dallas Buick agency: "The trouble is that auto salesmen have had it easy for so long that a lot have forgotten how to work...