Word: chrysler
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Dates: during 1940-1949
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Riding High. In one day, Chrysler stock, selling at 92½, soared 8¼ points. Cause of the enthusiasm was Chrysler's first-quarter earnings, which were the best ever. The net profit was $21,502,408 on sales of $317,041,078. (Profits for 1946: $26,889,290.) On the basis of this showing, Chrysler planned to split its stock two-for-one and raise the quarterly dividend rate from 75? to the prewar high...
With the announcement, the whole labor picture changed. G.M. promptly signed with 3,000 rubber workers in Dayton at the magical new 15? figure. At the least, it meant that Walter Reuther would be hard put to it to avoid accepting about the same terms at G.M., at Chrysler, and at Ford. At most it meant that the U.S. could look forward to a season of real labor peace...
...dark price picture, there was one bright spot last week. Chrysler Corp. announced price cuts ranging from $25 to $55 on all Plymouths. Hudson Motor Car Co. counteracted this somewhat by raising its prices from $25 to $69 a car. And U.S. Steel's Benjamin Fairless, who has been under most pressure to reduce prices, went out of his way to deny that Big Steel had any intention of reducing prices now. Not till current bargaining with C.I.O.'s United Steelworkers is over, said he, could Big Steel think of any price changes. Chrysler, which is currently bargaining...
...always threatened American business, the persons most in touch with events, the business community, have shown little indication that they are willing to deal with the problem in a manner inclined to insure confidence in the future prosperty of the nation. Although a few concerns--Ford, International Harvester, Chrysler to name some--have cut their prices, most have refused to talk about any slashes in their goods until wage negotiations have been completed, and they have swallowed the union's annual bad news...
...started manufacturing a car called the Chevrolet. Quietly he bought back 40% of G.M.'s stock (with the help of the Du Ponts) and walked into a G.M. board meeting with his pockets bulging with stock certificates. Imperiously he announced: "Gentlemen, I control this company." As Walter P. Chrysler later said: "It was like Napoleon's return from Elba...