Word: firm
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Dates: during 1970-1979
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...return it to solid profitability by 1981. Said lacocca after the Administration's announcement: "It's a vote of confidence we needed." Added Auto Workers Chief Douglas Fraser, who is joining Chrysler's board as part of a deal struck by his union to help the firm: "The Government is taking a very positive step, assuring the jobs of nearly half a million American workers...
...have also been losing money on their U.S. operations). Yet the fundamental problem has been poor management; Chrysler has consistently failed to come up with enough models that sell well, and its share of the U.S. auto market has slumped from 14% three years ago to 11% now. The firm's total indebtedness, including that of its financial affiliate, now stands at more than $5 billion, spread among some 250 different banks and other institutions, and lenders are wary of taking on any more Chrysler debt...
...abandonment of a firm pay guideline, if it occurs, would have broad implications for the economy, which is now delicately poised between two perils: even more inflation and deeper recession. Fresh harbingers of both of these threats appeared last week. The unemployment rate, which had dipped unexpectedly to 5.8% in September, returned to 6% last month-a sign of a softening economy. But other figures showed business continuing to perk along despite attempts to dampen inflation by curbing growth. Prices charged by wholesalers rose another 1% in October, while the index of "leading" indicators, which is supposed to foreshadow future...
...recent salary moderation has been far from uniform, and some yawning disparities have appeared. Sibson & Co., a New Jersey management consultant firm, calculates that the compensation of top business executives has increased by 14.8% this year with the help of salary bonuses often reaching 20%. Among wage earners, the hourly pay of union employees grew by only 8.3%, while that of nonunion workers edged upward just 7.2%. In other categories, the Labor Department reports that the earnings of an attorney rose by 8.9% on average; that was less than his stenographer's 12% increase but well above his file...
Last week, however, Baseball Commissioner Bowie Kuhn told Mays to say goodbye to baseball. Kuhn's edict came after Mays decided to sign a ten-year contract worth more than $1 million with Bally Manufacturing Corp. to make public appearances on behalf of the firm's new Atlantic City casino. Such a close tie with a gambling organization, Kuhn ruled, "is not in the best interests of baseball," and he told Mays that if he works for Bally, he must give up his job with the Mets...