Word: chryslers
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Unlike many French companies, Hermes uses local talent to guide overseas operations. Says Chrysler Fisher, an Oklahoman who is president of U.S. operations: "The word elitist makes my blood curdle." Fisher has installed a toll-free phone number to make Hermes products available "to any customer in Des Moines." A postman in Waco, Texas, became Hermes' first U.S. designer after drawing scarves featuring a Pawnee Indian chief and a wild turkey...
...slow growth has taken a heavy toll on many industries. Ford, Chrysler and General Motors idled 45 of their 62 U.S. and Canadian plants for up to four weeks in the first half of 1990. Along with the closings, the Big Three have laid off or fired 38,000 workers. "Manufacturers are very cautious," says Stanley Gault, chairman of Ohio-based Rubbermaid, a leading maker of household products. "The economy is just hobbling along...
...vice chairman of Chrysler, Gerald Greenwald, 54, was considered the crown prince who would succeed Lee Iacocca as head of Detroit's No. 3 auto company. A quietly self-assured master of finance, Greenwald helped save Chrysler from bankruptcy in the 1970s by cutting production costs and lining up Government financing. But Greenwald stunned Detroit last week with his decision to quit the troubled automaker in order to lead the proposed $4.4 billion employee buyout of UAL, the parent company of United Air Lines...
Greenwald denied the widespread industry rumor that his decision was influenced by the apparent reluctance of Iacocca, 65, to retire anytime soon. The Chrysler chairman seems determined to stay at the helm until he pulls off another comeback for the company, which is suffering from weak sales and profits. Greenwald is the third top Chrysler executive to leave in the past month, following Michael Hammes, 48, the head of international operations, and Frederick Zuckerman, 55, the corporate treasurer. The exodus has prompted suspicion of an internal dispute over Chrysler's strategy, most notably whether the automaker should seek a merger...
With Greenwald's departure, Chrysler insiders began focusing on two dissimilar executives as Iacocca's apparent heirs. Robert Miller, 48, a financial expert with little exposure to product development, was promoted to vice chairman, and will handle most of Greenwald's duties. Robert Lutz, 58, a former fighter pilot who is president of Chrysler's automaking operations, will have expanded responsibility for quality and productivity...