Word: chryslers
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Dates: during 1970-1979
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Pledging for Chrysler...
Replied Leach wryly: "That is a unique and thoughtful approach, but I doubt whether it would be widely embraced." At several stops, Leach asked for a show of hands on whether the Federal Government should help the ailing Chrysler Corp. in its financial troubles. Insisted an insurance man in the town of Washington: "They should have the same right to go broke as I do." Nevertheless, the vote there was 18 to 10 in favor of a federal loan guarantee for Chrysler...
...Andover, Mass., an agency has been giving free $4,500 Chevettes to buyers of $18,000 Cadillac Eldorado Biarritzes. In San Francisco, a dealer has advertised Dodge vans at a penny above the factory invoice price. In Fairfax, Va., a Chrysler-Plymouth agency offered car buyers a minimum trade-in allowance for anything on four wheels. Said the firm ads: LET'S MAKE A DEAL! ROLL IT IN! TOW IT IN! $800. Nonetheless, salesmen across the country are having more trouble moving big cars these days than at any time since the recession...
...Since Chrysler, by its own reckoning, is now spending at a rate of about $100 million a month, guarantees for even $750 million in new debts (on which interest would have to be paid) will not go very far. Next year the company will have to repay or renegotiate $303 million in European loans and $284 million in U.S. borrowings. The prospects are good that the company, after a hard fight, will win congressional approval for aid in 1979. But the chances are also strong that hungry Chrysler, like Oliver Twist, will return for more some time next year...
...Last year Riccardo earned $343,339. In 1979, his first full year at Chrysler, lacocca was supposed to earn $360,000, on top of a $1.5 million bonus, paid over 1979 and 1980, for joining the company...