Word: chryslers
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Dates: during 1970-1979
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...used-car dealer in Washington, N.C., hadn't got rid of that red and white 1978 Chrysler Newport so fast, it would have been easier for the big-city reporter to unravel the mystery that is still swirling around this little town. Because if the reporter had been able to examine the Chrysler, he might have found tell-tale traces of paint. And according to Gertrude Baker, the paint happened to be there because an outraged neighbor splattered it on the car after Dominique Wilkins, her son by an earlier marriage, decided to enroll in the University of Georgia...
...worst way." David Thompson, a former N.C. State forward who is now one of the highest paid players in the National Basketball Association, sent Dominique a personal, written-by-hand letter. The school gave him free tickets to its home games. And when that snazzy red and white Chrysler showed up in the driveway outside his mother's modest apartment in the Runyon Creek public housing project, everyone assumed that it was the clincher in N.C. State's sign up Dr. Dunk campaign. After all, she wasn't working. How could she afford an expensive car like...
Sales of cars would slide still farther. The biggest vehicles, which produce the fattest profits for manufacturers and dealers, would be the worst hurt. Small cars would increase their market share, which now is more than 50%. Among Detroit's Big Three, ailing Chrysler Corp. would fare the worst. Though 70% of its cars are compacts and downsized models, vs. 50% of Ford's and 30% of GM's, small vehicles are the least profitable, and the company would have to boost output sharply to remain competitive. That would be a difficult step for Chrysler to take...
...bills also require the company's banks to make additional unsecured loans on top of any federally guaranteed funding. Some bankers are unwilling to pour more good money into Chrysler. "There is a reasonable chance that loans might not be repaid," warned Citibank's chairman Walter Wriston...
...company's 102 lenders fear that if guarantees are granted, but Chrysler still goes bankrupt, federal law requires the Treasury to have a first claim on its assets. Probably not enough money could be raised from selling off its plants and other assets to cover both federally guaranteed loans and Chrysler's burdensome debts. So if Chrysler slid into bankruptcy -a real possibility because its survival plan depends not only on federal guarantees but also on many optimistic projections-the Government would grab most or all the assets...