Word: chryslers
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...industries. Ford Motor last week agreed to acquire San Francisco-based First Nationwide Financial, owner of the ninth-largest U.S. savings and loan, for nearly $500 million in cash. The purchase will expand Ford's credit business, which now includes financing the purchase of new cars. General Motors and Chrysler are also increasing their lending activity...
...cars were rare. Today remarkable numbers of cars--expensive cars, serious cars--are black. Nearly one in five new Porsches sold in the U.S. is black, as is one in five GM Corvettes, a 100% increase over the past several years. Less than 7% of the new cars that Chrysler Corp. manufactures are black. All the more remarkable then that it is now the most popular color for the company's high-performance sports cars: among those sold this year, 32% of Laser XEs and Daytona Turbo Zs are black...
...smile on my face this morning," declared United Auto Workers President Owen Bieber at 3 a.m. last Wednesday as he announced a tentative end to the strike by 70,000 of Chrysler's U.S. employees. The weary union leader had good reason to be pleased. In a final, 42-hour bargaining session with Chrysler officials, Bieber won increases in wages and benefits that will put the company's union workers back on a par with their counterparts at Ford and General Motors. The settlement brought an end to the concessions Chrysler's workers made to help the now thriving company...
Bieber drove a four-barreled bargain. At one point last week, the 6-ft. 5-in. union chief met with Lee Iacocca in the Chrysler chairman's office in a session complete with desk pounding, raised voices and colorful language. When Bieber finally presented the new three-year contract to his ten-member U.A.W. bargaining committee, the group gave him a round of applause and approved the deal unanimously. U.A.W. leaders predicted that the rank and file would ratify the deal early this week and return promptly to work...
...Chrysler's workers will receive most of the items on their wish list. Current employees will get an immediate bonus of $2,120, plus a 2¼% raise that will bring Chrysler assemblers up to the wage of $13.34 an hour. Late next year Chrysler employees will get a 2¼% lump-sum bonus and in 1987 a wage boost of 3%. Chrysler's 10,000 Canadian workers, who settled earlier in the week, will receive less lucrative bonuses because their concessions during the bad years were smaller...