Word: daimler
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Even if Transrapid is not awarded the casino-express contract, maglev technology is already on its way to the U.S. Magnetic Transit of America, a subsidiary of West Germany's Daimler-Benz, broke ground in downtown Las Vegas last January for a slower-speed -- 50 m.p.h. -- maglev urban-transit system. Completion of the initial 1.3-mile segment of the Las Vegas People Mover is planned for 1991 -- perhaps a good year for dating the beginning of the maglev...
...offer: a free flight from the U.S. to West Germany. The catch: you have to buy a Mercedes-Benz. For the first time in its history, Daimler-Benz is resorting to an American-style gimmick to sell its luxury cars in the U.S. Because of the falling value of the dollar, the starting price in the U.S. for the smallest Mercedes, the 190 E 2.3, has risen by 32% over the past three years, to $29,000. As a result, U.S. sales have stalled, and the company has had to abandon its traditional take-it-or-leave-it attitude. Customers...
...British stocks, including 15% of the Royal Bank of Scotland and 5% of Trusthouse Forte, a leading hotel chain. On the Continent, Kuwait has invested more than $2 billion in Spanish companies. In West Germany, Kuwait owns 20% of Metallgesellschaft, a mining, metals and plastics company, and 14% of Daimler- Benz, the car manufacturer...
...cars, including 3% of Cadillac's production line. Potamkin will not sell competing makes in the same store, but his 29-dealership empire, spanning the East Coast, has a total of ten different brands. In Denver, Leo Payne sells cars built by GM, Ford, Chrysler, AMC, Volkswagen, Volvo, Daimler-Benz, Subaru and Nissan. San Francisco's Martin Swig explains the megadealer's credo: "I don't care where a car comes from as long as it meets the needs of the market...
...black Daimler attracted a crowd as soon as it pulled up last week near the burned-out hulk of what had been a postal substation in Birmingham, Britain's second-largest city. Out of the limousine stepped Home Secretary Douglas Hurd, anxious to show his concern. "I'm just here to listen," Hurd told a crowd of residents of Handsworth, one of Birmingham's poorest neighborhoods. But the crowd was in no mood to talk. Hurd was showered first with jeers, then with rocks, and was hustled to safety by police...