Word: forde
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Dates: during 1980-1989
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...decision was a victory for General Motors and Ford, which faced combined fines of up to $600 million because their vehicles did not and would not meet the 27.5-m.p.g. standard for 1986, 1987 and 1988. Both companies had campaigned vigorously against rigid enforcement of the law, contending that tens of thousands of autoworkers would be laid off as the firms slowed production of larger cars to bring the average m.p.g. for all their vehicles down to the standard...
...past year. A GM statement last week said that the Government's leniency was "good news for American consumers and autoworkers" and "in keeping with the requirements of both the law and the real world." That reality: sales of big cars have jumped as gasoline prices have fallen. Ford had threatened to discontinue manufacturing such full-size cars as the LTD and the Mercury Grand Marquis in the U.S. or to raise their foreign content to 26% or more. This would get them averaged in with gasoline-sipping imports, which would far outnumber the relatively few guzzlers...
Supporting the arguments of both Ford and GM, NHTSA Administrator Diane Steed said that a "higher standard would have resulted in the loss of jobs for tens of thousands of workers." Chrysler Chairman Lee Iacocca attacked the decision, calling it a "mockery of the law" and "unfair to manufacturers who have based their product plans on federal standards." Chrysler spent $4.8 billion in redesigning its cars, in part to get fuel consumption down to the mandated level. Now, notes the frustrated Iacocca, the Government is changing the rules in the middle of the game...
...years of research, his latest book attempts to dissect the double whammy suffered by the U.S. auto industry at the hands of OPEC and Japanese automakers. Much of Halberstam's rambling 752-page work is devoted to a dramatic recapitulation of the dynastic and bureaucratic maneuvering at two firms, Ford of Detroit and Nissan of Tokyo, before and during the great U.S. auto crisis of the late '70s. But the moral that Halberstam, 52, draws from his story is intended to have wider significance. As a result of the failings of U.S. industry, he says, "life for most Americans...
...least $750,000 in bonds in South Africa-related companies. While Bozzotto has said that he divested in 1981, Labor Department disclosure forms--which he signed--show that between 1983 and 1984 Bozzotto in fact purchased a total of over $2.5 million in bonds in Texaco, General Motors, Ford and Caterpillar. All do business in South Africa. Particularly ironic is that Texaco and Ford are two of the corporations from which the University recently divested...