Word: forde
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Dates: during 1980-1989
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...rattle GM late last summer, when the automaker discovered it was stuck with more than 1 million unsold 1986-model cars and trucks. To move the merchandise, the company launched a 2.9% financing incentive, which sparked similar deals from the competition and erased GM's third-quarter earnings. As Ford and Chrysler posted hefty operating profits, GM produced a loss of $338.5 million. For 1986 as a whole, the company is expected to earn a net income of $2.8 billion, down 30% from...
...main handicap at the moment is its high production costs, which analysts put at $11,500 an auto, compared with $9,800 at Ford and $9,300 at Chrysler. A prime reason, ironically, is GM's multibillion-dollar rush to reduce labor costs by installing robotic factories, many of which still have bugs. Example: at Detroit's Poletown luxury-car plant, the taillights on some models tended to melt in the automated paint-hardening ovens. The technology * should gradually become a financial advantage as it begins to operate more smoothly. Says Chairman Smith: "You know we are not making clothespins...
Fellow Britons like Diane Towler and Bernard Ford helped pioneer the ice- dancing form during the '60s. "Because they have a long history of ballroom dancing," says Button, "the British have been the most creative of ice dancers. It strikes a sensitive nerve in them." Soviets like Ludmilla Pakhomova and Aleksandr Gorshkov have also left their imprint on the form, but Torvill and Dean may be the first to reach the superstar status of such figure-skating soloists as Dorothy Hamill and Peggy Fleming. "All new skaters will in some way look like Torvill and Dean," says Button. "They...
Change -- painful and profound -- is something that U.S. auto companies, especially Detroit's Big Three, have been struggling with for years. Battered in the early '80s by recession and imports, GM, Ford and Chrysler were bolstered by short-term protectionist measures, chiefly the imposition of "voluntary" export restraints on the Japanese. By 1984 the Big Three had rallied to their highest profit level ever: $9.8 billion...
...automotive times is that U.S. companies are collaborating with the Japanese in their new enterprises. This fall, as Toyota starts annual production of 50,000 of its peppy Corolla FX-16 at a joint- venture plant in Fremont, Calif., it is also assembling 200,000 Chevy Novas for GM. Ford, which since 1979 has owned 25% of Mazda, has agreed to buy up to 50% of the output of that company's Michigan plant, to be sold as part of the Mustang series. Chrysler and Mitsubishi have a joint project known as Diamond Star, which will begin building cars...