Word: detroit
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Above the front windows of Motown Records' Detroit headquarters was a sign that read "Hitsville U.S.A." Placed there by Motown founder Berry Gordy soon after his company moved into the modest home at 2648 W. Grand Blvd, the sign demonstrated Gordy's blazing - and at the time, unearned - arrogance. Then the slogan came true...
...Iowa, we remain far from the global recession's hot spots (knock on wood): Wall Street and Detroit, AIG and WaMu, Chrysler and Bernie Madoff. But the state has its problems, from layoffs by major employers to falling grain prices, bankrupt ethanol plants and state budget woes. And some of those recent scary national headlines - "U.S. Loses 533,000 Jobs in Biggest Drop Since 1974," "Recession Propels Skid in Housing Sales, Prices," "Retail Sales Are Weakest in 35 Years," "In Need of Cash, More Companies Cut 401(k) Match" - are translating into tangible, tell-tale signs on the street where...
Further dinging Detroit's pride, Toyota managed to end the century-long reign of Ford and Chevrolet as the best-selling car and truck brands in the U.S. Toyota finished the year with U.S. sales of 1,957,575 vehicles, while General Motors' Chevrolet brand sold 1,801,131. Even if the 113,904 vehicles Toyota sold under the Scion name were subtracted from the Japanese automaker's totals, Toyota still beat out Chevrolet. As recently as two years ago, Chevrolet held a commanding lead. (Read "The Bailout Report Card: From...
...economy would not withstand the collapse of the auto industry, but perhaps carmakers should look to their friends in the oil industry for assistance. ExxonMobil and others reported record profits - with our money - supplying fuel for all the gas-guzzlers Detroit built. Why should U.S. citizens pay again? William Stamm, Rosendale...
...talk in Congress about moving auto manufacturers' health-care systems into the federal system in exchange for an equity investment that - as journalist Thomas Friedman has suggested - requires the hybridization of their entire fleet [Dec. 15]. The federal system includes several large health-care units. Why not take Detroit's health-care needs off the automakers' hands and develop a single-payer system before rolling it out on a national scale? Not having to worry about the medical needs of personnel would make Detroit automakers better able to compete with other companies. Matthew Ernst, Ocean Isle Beach...