Word: chryslers
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...light. "We feel Mikhail Gorbachev is not fundamentally different from any of his predecessors," says Springston, who says he views Soviet-style "communism" as essentially capitalist. "I would compare Mikhail Gorbachev to Lee lacocca: He feels his corporation needs to be restructured," referring to the chief executive officer of Chrysler...
...severe drought. When the Big Three last week announced their profits for the fourth quarter, the cost of their incentive programs was all too clear. While car sales dropped 20%, profits plunged much more. Ford's declined 73%, to $314 million, while General Motors' fell 50%, to $700 million. Chrysler lost $664 million, its first deficit since...
...Three have become dependent on incentives to move merchandise. Result: even when car sales are decent, profit margins are thin. General Motors said it gave up $5 billion in incentives in 1989, or $900 for every vehicle it sold. Ford pegged its incentives at $1,000 per vehicle, Chrysler at $1,200. As part of its current restructuring, Chrysler last week announced the $825 million sale of its aircraft subsidiary, Gulfstream Aerospace, to a management-led group...
Winningest Products. Good things came in small sizes: Chicken McNuggets, Chrysler minivans, 3M's Post-it notes. Health was hot: Nike Air shoes, oat bran and Diet Coke. But old reliables stole the show: Waring blenders, fountain pens, Etch A Sketches, convertibles, suspenders and condoms...
...leaves his ego at the door. He fits his approach to his subject. With the brusque, no-nonsense Iacocca, he conducted interviews in offices and conference rooms, never sharing a meal with him. With O'Neill, he took drives around Cape Cod in the former Speaker's beat-up Chrysler and listened to endless anecdotes over tuna sandwiches. "I worried that these were only a wall of stories," he says. "I came to realize that Tip's opinions were expressed through his stories." He arrived at the White House carrying a bag of Mrs. Fields chocolate chip cookies, Nancy Reagan...