Word: detroit
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Dates: during 1980-1989
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...venture plans to start turning out 200,000 small cars a year in late 1984 in a GM plant in Fremont, Calif, that once employed as many as 6,000 workers but has been idle since March. The front-wheel-drive subcompact-quickly dubbed the Toyolet in Detroit-will be patterned on a new version of the Toyota Corolla and will sell for a base price of about $6,500. GM and Toyota will be equal partners in the plant, but Toyota has the right to pick the boss. The firms expect the enterprise to hire 3,000 workers...
...compete. And without the rigors of a competitive atmosphere, American industrialists will probably fail to construct Mondale's nifty, new auto industry. Japan's "unfairness" in this sector consists mainly in being able to build better and cheaper cars than we can. Part of the problem lies with aging Detroit factories, and, yes, a break of some sort will help the companies to find capital for new investment...
Minnesota 3, Detroit...
Agee's resignation seems an abrupt setback in what had been a fast-track career. A graduate of Harvard Business School, he was only 39 in 1977 when he reached the top at Bendix, a manufacturer of machine tools and auto and aerospace parts based near Detroit. At the time, Bendix stock was selling for less than $40 a share. Under the deal Agee negotiated, Allied paid $85 a share. But if Bendix shareholders were happy, the board was less than delighted with the publicity fallout from Agee's relationship with Mary Cunningham, a top Bendix vice president...
...wouldn't do it." Cunningham is now a vice president for strategic planning at Seagram, the Manhattan-based liquor manufacturer. For the past eight months, she and Agee have been commuting between a suite in New York City's Helmsley Palace and a home in Detroit's northern suburbs, near Bendix...