Word: corp
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Dates: during 1970-1979
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...most extravagant Christmas gift a bountiful Uncle Sam has ever given a U.S. company. Just before recessing for the holidays, Congress last week agreed to extend an extraordinary $1.5 billion loan guarantee to the ailing Chrysler Corp. and sent the measure to the White House for Jimmy Carter's signature. The gigantic bailout, dwarfing the $250 million Lockheed loan guarantee of 1971, is designed to save from bankruptcy the nation's third largest automaker and tenth ranking manufacturer (1978 sales: $13.6 billion). With Chrysler's losses mounting daily, its 1979 deficit is almost sure to exceed...
...conventional shower nozzle sprays out 35 gal. of water every five minutes. For $22.95, Teledyne Water Pik offers a nozzle that cuts water usage to 15 gal. during a five-minute shower without loss of pressure. A less expensive model, made by the Con-Serv Corp., retails for $13.95 and cuts water flow to only 10.5 gal. Cheapest of all: a plastic "water-miser" insert that costs less than 1? and was mailed this autumn by the Department of Energy free of charge to 4.5 million homeowners throughout the oil-hungry Northeast...
Last year the Aeroquip Corp., a subsidiary of Toledo-based Libbey-Owens-Ford, announced that it was closing its hydraulic hose plant in Youngstown, Ohio. The city was already strug- gling to absorb the layoffs of more than 4,000 steelworkers, and new job prospects in the area seemed slim. So some of the 375 employees decided to buy the 48-acre facility and run it themselves...
...nine months after the new employee-owned company, Republic Hose Manufacturing Corp., took over the one-story plant, productivity is up 40%, and the rate of rejected products has dropped from 8% to 1%. The firm, which today employs 130, estimates that for its first complete fiscal year it will earn a pretax profit of up to $600,000 on revenues of $7 million; that is less than the approximately $12 million in revenues of Aeroquip's final year but at least double the new owners' initial projections...
...which is sold under the Yves Saint Laurent label. It was so popular in Europe after its launching there in 1977 that its appearance in the U.S. had to be delayed a year for lack of supply. As it happens, Opium is marketed by a subsidiary of the Squibb Corp., the U.S. pharmaceutical firm, which pays the Yves Saint Laurent fashion house a royalty in return for the use of its name. More galling to the French, Opium is a strong scent; it thus follows in the style of the brash and popular American perfumes, like Revlon's Charlie...