Word: donners
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Dates: during 1960-1969
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...highest salaries go to top U.S. executives, who are required by law to report them, along with bonuses and stock holdings. G.M. Chairman Fred Donner leads the list, with a pre-tax figure of more than $800,000 from salary and stock and cash bonuses. In fact, the ten highest-paid executives in the U.S. are all in the auto industry, including Chrysler President Lynn Townsend (salary plus cash bonus: $555,900) and Ford President Arjay Miller ($515,912). Salaries depend, of course, on a company's size and profitability and an executive's responsibilities. Pure pay runs...
...junior U.S. Senator from New York leaned over the hearing-room table and spoke harshly to the head of the largest manufacturing company in the world. Said Bobby Kennedy to General Motors Board Chairman Frederic Donner: "How can you appear before this committee and not even know about that...
...sure how Kennedy could have expected G.M.'s highest policymakers to know the details of a relatively obscure report,* but his questioning typified the hostile, guilty-until-proven-innocent atmosphere of the hearings. The auto executives were placed in a bad light by other committee questions. Donner, for instance, could not tell Kennedy precisely how much G.M. spends for safety. G.M. at week's end estimated that the 1964 expenditure had been $124 million...
...companies to build safety devices into cars. Industry leaders argued that they have already done much, and are doing more to increase safety, but that consumers are unwilling to pay for safety features. "If we were to force on people things that they are not prepared to buy," said Donner, "we would face a customer revolt...
Latching the Door. Donner announced a $1 million G.M. grant to M.I.T. for a four-year study of traffic safety. Chrysler Vice President Harry Chesebrough disclosed that his company's 1966 models will have a new door latch that will substantially reduce the chances of car doors opening in an accident; he also called for the creation of a federal automobile center to coordinate safety programs. All of the executives promised that their 1966 models would have many of the safety devices that the Government has begun to require on its own cars...