Word: chrysler
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Dates: during 1980-1989
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...finally, William Isaac, chairman of the Federal Deposit In surance Corp., announced at a Washington press conference that the FDIC would put up $4.5 billion to rescue Chicago's failing Continental Illinois Bank. The commitment dwarfs the biggest previous U.S. bailout, the Government's 1979 guarantee to Chrysler of more than $1.2 billion in loans...
Labor. As does Mondale, she supports the protectionist "domestic content" bill requiring that all autos sold in the U.S. be produced with a certain amount of American-made parts and U.S. labor. She voted for the federal subsidies that helped ailing Chrysler Corp. avoid bankruptcy...
Despite the huge loophole in the Dole order, the plan was also criticized by many in the auto industry who cringe at the idea of installing expensive safety devices. "I regret the necessity of this kind of ruling," said Chrysler Chairman Lee lacocca. "The best safety device, the lap and shoulder belt, is in 100 million cars right now." American Motors Chairman Paul Tippett is concerned about the 1987 model-year deadline for passive restraints. Said he: "The worst thing is to deliver air bags or seat belts that are not right...
Though sales of new convertibles have not lived up to optimistic projections, they remain popular. Chrysler has sold 11,867 LeBaron and Dodge 600 convertibles this year, and Ford has moved 8,739 topless Mustangs. Jim Roberto, sales manager of Denver's Skyline Dodge, says he sells rag-tops as fast as he receives them. This fall another convertible will debut: a canvas-top version of the American Motors sub-compact Renault Alliance...
...Chrysler inaugurated a whole new vehicle category last year with its minivan, which carries seven passengers and still drives like a car. Though its Windsor, Ont., plant is operating at full speed and will produce 180,000 minivans this year, Chrysler is hard-pressed to keep up with demand. Some dealers are charging a $2,000 premium on each van. Due within the next nine months are two competing models: the Chevrolet Astro and Ford Aerostar. Industry experts think that minivan sales could go all the way to 750,000 a year...