Word: fiats
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Dates: during 1960-1969
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...squirming over a new affront to French pride - and this time the transgressor is a Frenchman, Pierre Bercot, the imperious head of Citroën, France's second biggest automaker. Climaxing months of secret negotiations, Bercot revealed plans last week for a union of his ailing company with Fiat, the Italian automaker that ranks fourth in the world, behind only the U.S. Big Three. "It is not a question of Citroën's troubles," Bercot said, "but the problem of the entire European automobile industry." That problem, as the French are keenly aware, is competition from...
Much to the chagrin of the De Gaulle government, which was caught by surprise when Chrysler took over faltering Simca in 1963, a French solution for Citroën's problem seems remote. Bercot insists that his company will "not fall under Fiat control"-"but what he has negotiated is not too far short of a Fiat takeover. According to the reported agreement, Fiat will buy a 30% interest in Citroën, presumably from the tiremaking Michelin family, which holds 56% of Citroën. Fiat would then reduce Citroën's dangerous $100 million-plus...
...this year, having also started work on a fast, Maserati-powered touring car, Citroën went to the government for $60 million. Bercot was turned down flat, and then was hit by the workers' strikes of May and June. Now, in talking about the proposed deal with Fiat, Bercot presents it as being "productive in bolstering Europe against American competition...
...ITALY is almost overrun with cars, but that has not stopped Fiat from selling more autos in Europe than anyone else ($1,300,000 last year). This year it stands to increase its share of the European market from 20% to 25% if Citroën comes into the fold. At home, sales have fallen off under competition from imports and from government-owned Alfa-Romeo. But Agnelli, Fiat's ardent pan-European, is more than making up for the decline with increased exports. Taking a tip from Detroit, he is bringing out several new models, including the fast...
...questionnaire, which focused on personal interests, housekeeping habits and study patterns, were run through a computer. Out came paired assignments to rooms. When the computerized friends got acquainted last week, most of them agreed that the innovation was definitely preferable to the old system of pairing roommates by administrative fiat...