Word: dealers
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Dates: during 1980-1989
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Like a man waiting for a bad headache to go away, Detroit is stuck with its undesirable cars while looking forward to the new generation of fuel-thrifty cars due to begin arriving on dealer lots this fall. In describing the new Chrysler autos, lacocca says: "We're going to be building three types-small cars, smaller cars and smallest cars." Both Ford and GM will introduce front-wheel drive, so-called world cars, which may be the industry's best prospect for future profits. These will be small, economical vehicles assembled from parts made in several countries...
...outlook is not good. In 1981 there will be some pickup but not a big one, and there is some chance of resurgence in 1982 or '83. I think we are going to be going through a very tough period." With management and assembly-line personnel slashed, the dealer base eroded and consumer loyalty dissipated, it may be another few years before spring blooms again in Detroit...
Amid the studiously reserved company men who usually head Japan's big corporations, Konosuke Matsushita, 85, has long been an outspoken exception. The son of a poor rice dealer, he founded the Matsushita Electric Industrial Co. as a three-person shop in 1918, built it into one of the world's largest producers of consumer electronic goods, and used his prestige to expound opinions on everything from nuclear power (he favors it) to the businessman's role as the servant of society. In 1973 he retired, but only to become more active in other fields. His earnest...
...Herbert and their associates offered to sell billions of dollars worth of bonds in Europe to be backed by a "substantial portion" of the estimated 200 million oz. of silver they hold. These bonds would pay a low rate of interest (estimated at 8%). One theory, advanced by Metals Dealer Andrew Racz, is that they were trying to raise money at low cost to invest in higher yielding (15%) U.S. Treasury bills, or even, as James Sinclair, another bullion broker, thinks, to buy more silver. But the prevailing belief was that Hunt, locked into a silver position that he could...
While these booboos were occurring, moreover, the Globe was taking a beating over its treatment of Mike Manoogian, a blind news dealer who has been hawking papers with oldtime fervor ("Big story! Big story!") since 1936. In December Manoogian was cut off by the Globe, which said he had swiped some copies from a newspaper vending machine. But when one of the man's longtime customers wrote a protesting letter to the publisher, she got back a haughty reply accusing Manoogian of "thievery." Copies of the letter given to local newscasters turned TV and radio on to the case...