Word: chryslers
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Dates: during 1970-1979
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Next March an unusual name will appear on the list of 17 nominees to the Chrysler Corp. board: Douglas A. Fraser, 62, president of the United Auto Workers. The nomination of this hardy adversary from Big Labor is part of the price that the automaker had to pay last week to win from the union economic concessions essential to corporate survival...
...Chrysler's collapse would "affect the stability of the nation's overall economic outlook" and might lead to substantial unemployment and economic disruption, Miller said...
...need to maintain a competitive posture in the auto industry," added Miller. Chrysler's bankruptcy would leave only two major American auto manufacturers--Ford and General Motors...
...Chrysler announced Tuesday it lost $460 million in the third quarter of this year, the largest deficit ever for an American corporation...
Although they disagree philosophically with the notion of direct government intervention in private enterprise, administration officials decided to go ahead with the loan plan--the largest ever for a U.S. corporation--because of the seriousness of Chrysler's predicament, Miller said...