Word: chryslers
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...This is not logical. I was chairman of the board of directors of a bank in Colombia and president of the board of directors of a bank in Panama. I also had the concession for Chrysler Motors for Colombia. In fact, I got that concession thanks to my dealings with Mr. ((Lee)) Iacocca. ((Chuckles.)) Maybe people confused coca with my dealings with Iacocca...
...poverty in old age. Suddenly, though, employees and retirees of some of America's largest corporations fear that the pensions they were counting on may not be there when they need them. If Executive Life's failure is not frightening enough for Americans, some 50 large companies, including LTV, Chrysler, Bethlehem Steel and Uniroyal Goodrich, have seriously underfunded their pension plans and jeopardized the security of their own retirees...
...present the agency is faced with the daunting prospect of several dozen large plans -- representing 3 million active and retired workers -- that are underfunded to the tune of $30 billion. Worst of all is a class of financially weak corporate behemoths, such as LTV and Chrysler, whose pension plans are severely short of cash. Unless their sales and profits improve, some of these large funds could collapse. Already running a deficit of $1.8 billion, the PBGC estimates its deficit could grow to $8 billion by the end of this decade...
...Chrysler is back at the brink of disaster a decade after the government rescued it by guaranteeing $1.5 billion of the company's loans. Now Chrysler is desperately seeking to raise $500 million to help it hold the road. To do that, the struggling automaker may sell Mitsubishi an increased stake in the Diamond-Star Motors joint venture that builds Plymouth Laser and Mitsubishi Eclipse models in Illinois. Chrysler has also boosted its cost-reduction target from $1 billion to $3 billion...
...line of sleek, mid-size sedans, code-named LH, in the summer of 1992. Such offerings have persuaded some experts that the company will scrape through its latest crisis. Says John Casesa, who follows the company for the securities firm Wertheim Schroder & Co. in Manhattan: "I think Chrysler's going to make...