Word: citroen
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...assumed the right to pass the final word on certain business deals. He must, for example, approve any arrangement that would deliver more than 20% of a French company into foreign hands. Last week De Gaulle used his veto to upset a planned union of France's troubled Citroen auto firm with...
...Gaulle's ruling on the deal was a somewhat ambiguous "No, but yes." No, Fiat could not buy the Citroen shares from the tire-making Michelin family. But yes, Fiat and Citroen could cooperate, so long as their mutual dealings did not affect "conditions of employment" and the "equilibrium of the auto market in France," That means that little, if anything, can be salvaged from the original deal, The two companies had intended to share manufacturing plants and probably to channel more Citroën work to Italy's lower-wage labor market, They also had planned...
With its lagging sales and debts of at least $100 million, Citroen is eager to hitch up with another auto manufacturer. Charles de Gaulle would like a purely French solution: perhaps a merger of the three major French carmakers, to be called Automobile de France. If that happens, Fiat may be sorely tempted to woo Germany's Volkswagen. Such a combine would dwarf anything that France could put together...
...Gaulle. He had to get away, De Gaulle said. For two nights, he had not slept, and now, in De Gaulle's words, he "couldn't see clearly." Moments later, a news bulletin flashed across France: a reporter at the Elysee had seen the presidential Citroen bolt out of a seldom-used back gate. Before De Gaulle quit in 1946, he had retreated from Paris to his estate at Colombey-les-deux-Eglises in eastern France. Now some 250,000 demonstrators were parading through Paris in yet another anti-De Gaulle protest. On hearing the bulletin, they began...
...heavily into the wage gains of the decade, and, among their Common Market peers, French workers lead the way both in the number of hours spent on the assembly line and in enduring the highest national cost of living. Though he made less money several years ago, Citroen Worker Pierino Fausti, a bachelor, says he used to be able to go to the local dances and meet girls whom he could then afford to seduce in the grand and proper French style. "Well, I can't any more. Now, it's no drinks, no food, no coffee, just...