Word: chryslers
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...markets are deteriorating, and our company's performance even more so. Competition is brutal," Dieter Zetsche, Chrysler's new president, said at a news conference Monday in Detroit. "North American manufacturers are under pressure from imports and an incentive...
...economic slowdown now, a slowdown that has already turned into a recession in the manufacturing sector. And so when German-American carmaker DaimlerChrysler led Monday's business sections with the announcement that it would be cutting 26,000 jobs over three years, all on the money-losing Chrysler (American) side of the Atlantic, the Street sighed and sold the company's stock down $1.14 to $47 by noon...
...DaimlerChrysler, the world's fifth largest automaker, is already one of the shakiest corporate mergers in recent memory, and in this global age a living warning of the dangers of merging across the pond. The company announced a $512 million loss in its U.S. operations (which, when they were Chrysler, were actually rather profitable) in the third quarter last year, and that figure is expected to double in the fourth quarter. The company has blamed the high cost of launching new vehicles and an increasingly competitive U.S. market...
...Michigan; first post-World War II black assistant NFL coach and chairman of the Equal Opportunity Employment Commission in the Ford Administration; of cancer; in Southfield, Mich. He was also the NFL's first black broadcaster and one of the first blacks to head a major auto plant--for Chrysler...
...industrial icons. In the 18 months since he arrived in Tokyo, the intense, bespectacled Ghosn has turned Nissan from a debt-ridden basket case into a profitable car company, with 22 new models in the pipeline and a truck plant under construction in Mississippi. While Ford, General Motors and Chrysler all saw sales decline last year, Nissan enjoyed an 11% increase. The company's luxury division, Infiniti, had its best U.S. sales year in history. "People were ready for this," Ghosn says with his usual rapid-fire urgency. "And we had to show quick victories to accelerate the number...