Word: daimler
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...automakers see it, with gasoline at $ 1.33 a gallon, double its 1973 price, there is a strong demand for small, economical cars, while wealthy drivers will continue to buy expensive quality autos. But the market is less buoyant for medium-sized, medium-priced autos. That, in part, explains how Daimler-Benz and BMW managed to steer through the recession with barely a falter. Sales of Mercedes-Benz cars rose from 331,682 in 1973 to 350,098 in 1975. Buoyed by that performance as well as by rising truck and bus production (229,-303, up 11.7% from 1974), Daimler-Benz...
...remains Pinto-sized by comparison, with sales of $1.2 billion in 1975, but output of its fast, sporty cars soared to 217,458, from 184,681 the year before. Like Daimler-Benz, BMW did not have to lay off a single worker during the recession and remained profitable, making $16.2 million in 1974. Even little Porsche, which sells a mere 180 cars a week (price range: $9,120 to $26,600), is confident enough to have embarked on a $55 million expansion program...
...demonstrators off balance, the T.U.C. would not disclose when Shelepin's Aeroflot jet would arrive or where he would go. Worried that the Soviet labor leader might be attacked or even assassinated, security agents later dispatched a stand-in resembling the short, heavy-set Russian in a decoy Daimler limousine. He took the brunt of a barrage of umbrellas, milk cartons, bricks and Passover cookies, as the real Shelepin slipped into T.U.C. headquarters through the tradesmen's entrance...
...simply refuse an unwanted alien investor the right to obtain British currency. France requires official authorization for all investments above 1 million francs ($222,000). The only major Western nation with virtually no controls is West Germany. Even after the recent Arab purchase by Kuwaiti interests of 14% of Daimler-Benz AG, there seems to be little chance of a change in the laws...
Even so, OPEC investment in Western nations is picking up. Kuwait emerged last week as the purchaser of up to 14.6% of Daimler-Benz AG, the producer of Mercedes vehicles. The deal cost the Kuwaitis $300 million to $400 million, by far the most ever spent for a stock acquisition by a Middle Eastern nation. Adnan Khashoggi, 39, a U.S.-educated Saudi whose non-oil business empire already includes two small California banks, recently offered $14 million for a one-third interest in the First National Bank of San Jose. Armand Hammer, chairman of Occidental Petroleum Corp., disclosed last week...