Word: chryslers
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...Chrysler Corp.'s bland announcement last week that it was dropping five of its 18 directors in order to "improve efficiency and effectiveness as well as reduce cost" didn't fool industry observers. The unusual pedigree of one of those directors -- Owen Bieber, president of the United Auto Workers union -- signaled other, less technocratic motives. Most bets are that the willful U.A.W. boss, a board member since 1984, was dropped because of his frequent opposition to management, led by its equally willful chairman, Lee Iacocca. "There were a lot of 17-to-1 votes," Bieber said last week...
There was also more than a little friction. Bieber had routinely voted against raises for top executives. In 1989 Chrysler management enraged the union boss by concealing from him plans to close a Detroit plant...
With the Persian Gulf crisis as a fresh reminder that oil supplies are uncertain, interest in alternative fuels for vehicles is suddenly stronger than it has been in years. From automakers to energy companies, the race to develop a clean and dependable substitute for gasoline is in full gear. Chrysler recently unveiled a battery-powered prototype of its popular minivan. GM is experimenting with automobiles that run on methanol, a form of alcohol that comes from such sources as coal and wood. United Parcel Service recently tested delivery trucks that burn propane rather than gasoline. Mercedes-Benz has developed...
...announced this week. But Wall Street analysts applaud GM's moves, saying they indicate that the world's largest automaker is preparing for a long, hard recession. And with sales of domestic cars plummeting 31% in January to the lowest level since 1982, they predict that Ford and Chrysler will be forced to make similar cuts in the spring...
...tailspin showed no sign of a letup. Domestic auto sales during the first 10 days of January were more than 31% lower than during the same period a year ago. "Nobody is selling anything. Times couldn't be worse," said Robert Lutz, the blunt-spoken president of Chrysler. "The only people buying are those with 90,000 miles on their cars or people who have had their cars stolen or burned." Concurs his colleague John Rock, general manager of the GMC truck division: "Everybody's in neutral and idling...