Word: chryslers
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...Barrow has been blasting at Young's predilection for sparkling downtown development projects over measures to help the city's devastated neighborhoods. A cousin of the heavyweight champion Joe Louis, Barrow also derides the mayor as a holdover "from an old era" who naively granted sizable tax abatements to Chrysler and General Motors for plant construction projects that did not create as many jobs as promised or that cost taxpayers too much. Barrow promotes himself as wise in the ways of business and administration...
...supply, well above what is considered healthy, and Detroit is finally acknowledging the sharp downturn in demand and cutting production plans for the rest of the year. Output at General Motors assembly plants in the third quarter will be the lowest of any July-September period in 19 years, Chrysler's the smallest in a decade. While none of the automakers are scheduling long-term shutdowns, many workers are being idled for the first time since the last recession. Ford, which has run continuous overtime for the past five years, announced layoffs at Escort plants in Edison, N.J., and Wayne...
Since the downturn began, Japanese manufacturers have made even greater inroads than in healthy times. Honda, Toyota, Nissan and Mazda posted higher sales and gains in U.S. market share in the first half of 1989, largely at the expense of European imports, Chrysler and GM. Of the Big Three, only Ford managed to raise its market share, because its sales slump has been smaller than that of its rivals...
Even dedicated free traders are sounding increasingly protectionist. "I grew up believing protectionism was pretty dumb, and I still do," says Chrysler chairman Lee Iacocca. "But somewhere along the line we stopped being idealists and started being patsies." Iacocca and other auto executives are well aware that cars, trucks and auto parts account for 64% of the $52.1 billion trade deficit with Japan...
...riding shotgun this gray Friday afternoon during an assault on a trafficker in lewd videos. At the house, tires screech, and officers leap out with drawn .45s. "If anything's going to go wrong, it's in the first two minutes," says Hurlbut, taking it all in from the Chrysler. Nothing does, but the raid nets only a few small-time video wholesalers. However, clues quickly lead deputies eight miles away to a cramped trailer that proves a cornucopia of hard-core videos and books...