Word: chryslers
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Dates: during 1940-1949
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...inlet to fashionable Shippan Point, where Plant Manager William Hoyt owns a house close by the Stamford Yacht Club. Even farther apart than these two worlds were the bare union headquarters above a local dime store and President Carey's ample office in New York's towering Chrysler Building...
...week following the Ford and Chrysler wage settlements, not a single other important agreement was reached between labor and management. The steel strike entered its third week, the General Motors strike its third month...
...agreement broke the logjam that had dammed up collective bargaining in the auto industry's Big Three. Three hours later Chrysler Corp., not wanting Ford to get a competitive jump, signed up with the union too. But the Ford contract was still the big news. Beyond the pay agreement, it had another important provision: the turbulent U.A.W. had agreed to make its unruly members toe the line. What the Ford Motor Co. had won, the others would soon want and probably get. But the troubles of Ford were still far from over...
What Ford lost, General Motors and Chrysler, sharp-eared to customer demand, gained. Ford profits, which had in 1929 run upwards of $80,000,000, shrank with the market. Secretive Ford Motor Co. gives out no earnings statement. But the balance sheet it files with the Massachusetts Commissioner of Corporations gives a reasonable estimate of the financial scene...
...Then the company should stop losing money on every car, start making a little. With luck, and an end to the steel strike, the company may reach this figure soon. If it does it will have the longest start it has had in a decade on G.M. and Chrysler. But Henry II's plans do not stop there...