Word: chrysler
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Dates: during 1970-1979
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Finally, the surge in American-made cars was strong enough to benefit each of the Big Three-General Motors, Ford and Chrysler-though to very different degrees. The sole exception to the industry's prosperity is fourth-ranked American Motors, which offers a limited selection of models, the majority of which are small cars. A.M.C. suffered a 23% drop-off in 1976 sales, and piled up losses for the business year ending in September that were large enough to cause its accountants to raise a gingerly question as to whether it could stay in business. Actually, the company...
...Chrysler, which had been ailing for several years, made a spectacular comeback. Its total car sales last year leaped 31% over 1975, exceeding even GM's 28% gain. The company's revival rested largely on three handsomely styled, scaled-down autos: the Volaré, which sold 311,000 and the Aspen (232,000), which are both compacts, and the intermediate-size Cordoba (175,500), which packs a lot of luxury into a fairly small package...
...Clouds. But that difficulty hardly even clouds a mood of euphoria in Detroit. Last year total car sales, including imports, hit 10.1 million. GM Chairman Thomas Aquinas Murphy predicts 11.25 million in 1977, barely under the 1973 record; Chrysler guesses 10.8 million and Ford 10.6 million. There are sound reasons for optimism. For example, though the unemployment rate is high, the number of Americans who do have jobs is rising strongly, and most lenders will now make 48-month loans to car buyers, v. 36 months formerly; that lowers monthly payments. GM and Ford are also scheduling record spending...
...ideologue who headed the union for 24 years, built a durable power base. After Reuther's death in an airplane crash in 1970, two men vied for his mantle: Leonard Woodcock, the intellectual chief of the union's General Motors division, and Reuther's apparent favorite, Chrysler Department Head Douglas Fraser. When it seemed certain that Woodcock had garnered 13 of the U.A.W. executive board's 25 votes, Fraser bowed out gracefully. Last week he got his reward. Woodcock, who is 65 and must retire this year, announced that after consulting with him, the three other...
...Though his electrician father managed to work on and off through the Depression, Fraser recalls hopping aboard slow-moving railroad gondolas to knock off a few chunks of coal to carry home for heating. After graduating from high school in Detroit, he went to work at Chrysler's De Soto plant and, faithful to his father's socialist leanings, quickly drew notice as a union agitator. By age 26, he was president of his local, where he tried to boost membership by serving beer; at 30, he was an international representative; by 34, he had caught...