Word: daimler
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...West Germany and 3% in Britain. Its 300-branch consumer bank in Dusseldorf primarily serves factory workers. The firm's New York City-based Private Bank caters to wealthy individuals, offering such services as art-investment advice and estate planning. Citi's corporate customers, says Reed, include "the Daimler-Benzes of the world, the Toyotas of the world, the Exxons of the world...
Schmiedeberg said that Edzart Reuter, chiefexecutive officer of the Daimler-Benz company,which produces Mercedes-Benz cars, would beresponsible for fundraising in Germany...
Boardrooms were buzzing from Bangkok to Boston last week over word of an impending alliance between industrial powerhouses Daimler-Benz and Mitsubishi. Daimler-Benz, maker of the best-selling Mercedes-Benz automobiles and a partner in the Airbus consortium, is West Germany's largest industrial group. Mitsubishi, with interests ranging from electronics to real estate, surpasses all of its Japanese rivals. Emerging from talks in Singapore, representatives of the two firms said they are negotiating joint ventures that would link their businesses in the auto, aerospace and consumer-electronics industries...
Such alliances could help Daimler-Benz spruce up its consumer-electronics group and afford entry to Japan's domestic markets. Mitsubishi would position itself for 1992's united European market and, with access to Daimler aircraft technology, might enter the commercial aircraft field -- a dream come true for the Japanese but a nightmare for Boeing...
...East Germany will adopt West Germany's market-oriented economy, and the going could initially be rough for East German companies and workers. Aging and inefficient East German industries like automobile manufacturing, which produces the pathetic 26-h.p. Trabant, will face competition from modern, powerful West German counterparts like Daimler-Benz. This could cause widespread factory closures and job losses, which never happened in the old centrally controlled East German economy. A report by the European Community leaked two weeks ago estimates that East Germany, which now has a worker shortage, could have 15% unemployment -- 1.2 million workers...