Word: chryslers
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...problems have not been felt as severely at the other two Detroit automakers. Ford and Chrysler went through their own major retrenchments in the 1980s and have been able to make stronger commitments to team-production techniques. In terms of corporate structure, "size guarantees you nothing anymore," says Chrysler president Robert Lutz. "It's not necessarily the small buildings that are the most affected by earthquakes. Skyscrapers are just as vulnerable...
...battery of the future, explains John Wallace, director of electric vehicles for Ford. But each company had at least one poorly funded battery research project under way, which, if linked with the others, could be coordinated to eliminate overlap and speed a breakthrough. So Ford, GM and Chrysler joined forces and asked the government to match their efforts dollar for dollar. "We agreed to cooperate on batteries," added Wallace, "but compete on vehicles...
...would you describe a loss of $82 million? Chrysler's Lee Iacocca calls it ) "an outstanding performance." And the tragedy of the U.S. auto industry is: he just may be right...
...third-quarter deficit announced by Chrysler last week joins even worse figures from its domestic competitors. Ford's losses from July through September hit $574.4 million, while during the same time GM's cash tank leaked $1.1 billion. All in all, the Big Three have seen losses since the beginning of the year of $5 billion -- equivalent to the GNP of Luxembourg...
...Chrysler is aggressively scrambling for cash. A recent stock deal should raise $330 million. And last week the perpetual American underdog announced the sale of its half-interest in Diamond-Star Motors to Japanese joint-owner Mitsubishi Motors for $100 million. Chrysler may give up its 12% interest in the foreign firm, which would not only replenish its coffers but add a bit more credibility to Chairman Lee's Japan bashing as well...