Word: falconer
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Dates: during 1960-1969
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...Ford, McNamara played a major role in bringing out the compact, best-selling Falcon (and a lesser one in putting together the ill-fated Edsel). He also dismayed car connoisseurs by changing the sporty Thunderbird from a two-seater to a four-seater-a decision, however, that more than tripled "T-bird" sales. As a reward for such judgments, McNamara has become a millionaire, and last year earned $410,000 (about $150,000 after taxes). Last week McNamara announced that in addition to taking a mammoth salary cut to serve as Defense Secretary (statutory pay: $25,000, plus...
...right in his head." By 1949, McNamara was company controller, six years later became boss of the company's breadwinner, the Ford division, two years later group vice president for all car and truck divisions. As group vice president, McNamara had an active role in bringing out the Falcon, also is given the credit for a decision that some auto buffs still disapprove: changing the sporty Thunderbird from a two-seater to a sedate four-seater. McNamara knew the market for a four-seater would be much bigger-as it has proved to be-even though the bird lost...
OCTOBER CAR SALES of 538,000 v. 527,000 last year were record for month. Ten-month sales ran 7.8% above last year's level. Compacts accounted for 28.9% of October sales, with the Falcon continuing to lead the pack, putting Ford division ahead of Chevrolet for the month...
...manufacturer is taxed on his rate of sales-whether he earns a profit or not. Chrysler ran $5,400,000 in the red last year, still had to pay $31 million in local and state taxes-and rumbled that it might move elsewhere. When Ford located a new Falcon plant in Ohio, Williams put on his straightest face and complained that the company was depriving Michiganders of jobs. This year the Republicans' most effective campaign document is a list of 40 key companies-from ACF Industries to Philco-that have left Michigan. In the past decade, the number...
...steel indus try, which is also facing a new situation. Now operating at about 50% of capacity, steel has been hit by the popularity of the compact car. Ford's standard four-door Galaxie requires 3,349 lbs. of steel to build; a four-door compact Falcon with standard transmission requires 2,110 lbs. Thus Ford can build three Falcons with the steel that goes into two Galaxies. If, as some auto experts predict, 50% of all U.S. cars made next year are compacts, the industry would use about 2,000,000 fewer tons of steel...