Word: chrysler
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Dates: during 1970-1979
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...Chrysler has redesigned its entire big-car line, enlarging the windows and making the bodies wider and the front ends squarer...
...even so may be unable to meet demand. General Motors is spending $300 million to increase production, most of it for its compacts, Nova and Omega, and its sub-compact Vega. Ford has started a $250 million construction program to boost output of its Pintos, Comets and Mavericks. Chrysler is also expanding production facilities for its Valiant and Dart compacts. To fatten the relatively slender profits from smaller cars, manufacturers are loading the 1974 compacts with all kinds of optional items, such as luxurious vinyl and woodgrain interiors and air conditioners...
While the Nixon Administration's wage controls have aimed at holding raises for ordinary workers to 5.5% a year, some top executives have been do ing rather better than that. According to a Business Week survey, Chrysler Corp. Chairman Lynn Townsend last year got a 209% increase in total compensation, to $649,850; TWA President Forwood C. Wiser Jr.'s compensation went up 157%, to $296,298. Such in creases did not violate the guidelines; a company could give its chief an enormous boost, keep the lid on subordinates' raises, and come out with an average...
...agreement covers Chrysler's 127,500 U.S. and Canadian workers. Woodcock's next job is to win the same package at General Motors and Ford, which employ some 614,000 workers covered by U.A.W. contracts. The union chief has said that he will seek no larger economic concessions from the Big Two than those won at Chrysler -but will accept no smaller ones. The outlook for a strike-free agreement seemed to remain optimistic. Reviewing the Chrysler deal, a Ford executive said...
Whatever the blessings of the swift Chrysler agreement, they are hardly without inflationary costs. Council Chairman John T. Dunlop admitted that "a further round of auto price increases" is soon inevitable...