Word: chevrolet
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Dates: during 1990-1999
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...member of a clannish, well-to-do and often fiercely independent society. Dealerships are regularly traded or sold among friends or in-laws; 40% of them at present were inherited from a family member. Oldsmobile general manager John Rock, who is the son of a Chevrolet dealer and whose wife is the daughter of a Buick dealer, notes half jokingly, "Most of our dealers seem to come from the same sperm bank...
Some see signs of change within this tight circle. Mark Rikess, 45, once ran his family Chevrolet dealerships in Minnesota and now heads a Los Angeles consulting firm that advises other dealers on ways to improve their selling practices. He has noticed that his clients tend to fall into the same pattern: second- or third-generation owners, college educated, between 35 and 45. "They want to change," Rikess says, "not because they are going to see a financial advantage today. They just don't want to run the business the way that Daddy...
...will now use to make Jeeps. For its part, Ford is converting a St. Louis plant that currently makes Aerostar vans to sports-utility production at a cost of nearly $600 million. And General Motors is juggling shifts at plants in four states to make room for a new Chevrolet Blazer this summer and new Chevy Tahoes and GMC Yukons...
...Challenger, Gray & Christmas, up 13% from last year's pace. General Motors alone eliminated 17,000 jobs in the first quarter even though it plans to boost output 5.4% this year. (Such labor cutbacks have not stopped GM, Ford and Chrysler from raising prices on popular models like the Chevrolet pickup and the Jeep Grand Cherokee.) Overall, the hourly output of Detroit's workers has been increasing at an annual rate of 6.5%, while wages have grown just...
...Republican, has long opposed limits on the tax subsidy but now says, "My mind is open." The rising cost of health care, he says, makes him wonder "whether we have encouraged, because of the tax code, too much health coverage . . . Cadillac coverage when we ought to be aiming for Chevrolet coverage." Senator Tom Daschle, the South Dakota Democrat, acknowledged that "it's safe to say that we won't allow a sky's-the-limit tax exclusion." And a top adviser to President Clinton predicted "a cap on the tax subsidy for upper-income people." Union leaders...