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...bleeding heart of downtown, near a city power works and a Chrysler assembly plant, Victoria Park offers serene, curving streets and handsome colonial- and Cape Cod-style homes. The incongruous setting did not deter builders from snapping up city-owned lots for a dollar apiece, then designing gracious homes with porch decks, two-car garages and cathedral ceilings. Buyers, unfazed by the city's mean reputation, grabbed 70 of the 86 available houses, for prices that were typically 25% less than comparable homes in the suburbs. Among the first new owners: a Desert Storm nurse, a church minister...

Author: /time Magazine | Title: An Experiment in Urban Homesteading | 6/15/1992 | See Source »

This time, however, the chiefs of General Motors, Ford and Chrysler had more than just the powers of reason and persuasion on their side. Almost simultaneously, a congressional committee in Washington was considering new production limits on Japanese cars, including even those manufactured in the U.S. More stunning to the Japanese, the Commerce Department ruled for the first time that Toyota and Mazda were illegally "dumping" minivans in the U.S. market. The Big Three American executives brushed aside the timing of these public actions as "only coincidental...

Author: /time Magazine | Title: Once More, With Backing | 6/1/1992 | See Source »

...alone. Just about all the world's major automakers, from Citroen to Chrysler, are revving up to produce electric cars. They realize that in the 21st century, consumers will increasingly favor -- and governments will mandate -- technology that preserves and protects the environment. The fortunes of companies and nations will rise and fall on how well they heed the call to save the planet...

Author: /time Magazine | Title: Summit to Save the Earth: The Big Green Payoff | 6/1/1992 | See Source »

...analysts had expected the automakers to notch up another round of losses. Ford, which last posted a profit in the third quarter of 1990, reported a first-quarter profit of $338 million, buoyed by sales of cars and trucks at home and the sale of its Dealer Computer Services. Chrysler was not so fortunate. The embattled company lost $13 million in the first quarter...

Author: /time Magazine | Title: Get Used to It | 5/11/1992 | See Source »

...year, most heads of major U.S. companies make $1 million to $4 million a year. This disparity was embarrassingly highlighted earlier this year when the Big Three auto chiefs accompanied President Bush on an ill-fated trade mission to Japan. Although General Motors', Ford's and Chrysler's combined losses totaled $7.5 billion last year, their top executives were together paid $5.3 million. Their counterparts at Toyota, Nissan and Honda collectively made $1.8 million...

Author: /time Magazine | Title: Executive Pay | 5/4/1992 | See Source »

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