Word: buyer
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...Exchange magazine. So durable were these "square Mustangs" that 300,000 to 400,000 of them, or about a third of the total built, may still be on the road. Says Automotive Writer Wallace A. Wyss: "Ford made the car better than it planned. Detroit expects the average auto buyer to trade in a car after three years, but there are plenty of people still driving their '65 Mustangs with 200,000 miles on the clock, almost unaware that it's 1980." Many owners trade Mustang parts and stories at regional swap meets...
...number of entrepreneurs specialize in returning old models to pristine condition. J. Orion Brunk, founder of Beverly Hills Mustang, Ltd., has an eight-week waiting list of buyers. A network of sleuths buy old Mustangs and parts for Brunk, and he has an agreement with Racing Car Designer Carroll Shelby to turn old 1966 models into souped-up Shelby Mustangs. Price of the new Shelbys: $40,000. Detroit cannot keep its hands off a winner, though, and the classic Mustang died after 1968-of obesity. Ford gradually fattened the car, boosting its size, adding 584 Ibs. to its weight...
...ensure that a new buyer would not inherit the same problems that have nagged Thomson for so long, he is hoping for a guarantee from the unions of future cooperation. Said Thomson last week: "Frankly, we've had more cooperation in production than we've had for years. It's rather bittersweet." So far, no potential buyer has stepped forward. Times Editor William Rees-Mogg, 52, is trying to organize a consortium of management and journalists to buy the daily, and has even received pledges of up to $480,000 from readers. But as the "Thunderer" itself...
...renew their licenses. Houses sell for $50,000 to $65,000; people working fulltime are making $20,000 at Ford, $17,500 at U.S. Steel. Even the U.S. Armed Forces has been forced to lease its Broadway recruiting center to the local Republican backers. It is, most definitely, a buyer's market...
Owner Financing. Thousands of frustrated home buyers are now bypassing the bank and borrowing money directly from the person selling the house. Owners often find that this type of financing is the only way they can sell their houses because so many potential buyers cannot qualify for bank loans. The buyer, for example, might borrow half the needed money from the owner at 8% interest and the rest from a bank...