Word: chrysler
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Dates: during 1970-1979
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...Gimmicks. Determined to gain a larger share of the muscle-car market, Chrysler entered its brand-new Dodge Challenger in the Trans-Am for the first time this year, along with a redesigned Plymouth Barracuda. American Motors convinced Mark Donohue and Roger Penske, Trans-Am champions for the past two years in Chevrolet Camaros, to switch to its Javelins in a deal that will earn the pair a reported $3,000,000 over the next three years. General Motors countered by appointing Jim Hall, designer and driver of the innovative Chaparrals to head its Camaro team, while Veteran Driver Jerry...
...answer that Government cannot do everything; social problems are so widespread and deep-rooted that to solve them the nation must use all its resources, prominently including those of business. Still, businessmen are troubled about the justice of committing stockholders' money to projects that promise little or no earnings. Chrysler's real estate subsidiary, for example, has been reluctant to build low-rent ghetto housing because Chairman Lynn Townsend, who has been socially active in other areas, cannot yet foresee even a minimum profit in it. There are legitimate questions, too, of how much a company can bend its quality...
...machines and television sets and 98% of its portable radios. Chemicals, textiles and footwear once produced by U.S. workers are increasingly entering the domestic market from countries that have pools of lower-wage labor. Next year all of Ford's small Mavericks will be built in Canada, and Chrysler last week announced that in 1971 it will introduce a Dodge Colt line manufactured in Japan by Mitsubishi. For the first time, an American automaker will offer a Japanese-made car in its showrooms...
Bumped by the Rules. Some JOBS programs have indeed done well. Raytheon has retained 99% of the people it hired, and a number of trainees rise to become secretaries and draftsmen. American Airlines, Eastern Air Lines and New York's Consolidated Edison also report successes. But Chrysler Corp., on the other hand, has canceled one of its several JOBS contracts calling for 4,450 production employees; and Chrysler's Chairman Lynn Townsend is the N.A.B. chief for the whole country. The company retained other contracts and has signed one to train 1,000 auto mechanics at its dealerships...
...feel that their wage gains have been eroded by inflation, Reuther had talked up huge wage and pension demands. He also was building a $120 million war chest that could carry the U.A.W. through a ten-week strike against General Motors, or a longer one against Ford or Chrysler. Auto men, hurt worse than most other industrialists by this year's business downturn, were talking of countering with tough demands of their own to reduce absenteeism and loafing on the job. Reuther's death will make the negotiations harder because his successor will be eager to establish...