Word: forde
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That's because the list of Inaugural entertainments, courtesies and adornments is endless. Ford, Chrysler and General Motors have lent a total of 500 cars and trucks to the Presidential Inaugural Committee, presumably with the hope that TV viewers will notice their vehicles as they carry VIPs down Pennsylvania Avenue. Korbel has provided 800 cases of a "Special Inaugural Cuvee," emblazoned with the presidential seal; Clairol has invited journalists to have their hair done at a Washington salon, while MTV is throwing its own Inaugural ball with the high-minded goal of honoring "the young Americans who voted...
...enables it to offer bargain fares (average: $58) that undercut others and allow Southwest to quickly dominate most new routes it enters. Boasts CEO and co-founder Herb Kelleher: "We've created a solid niche -- our main competition is the automobile. We're taking people away from Toyota and Ford...
...first time since 1988, the nation's best-selling car did not bear a Japanese nameplate. The winner for 1992: the Ford Taurus, which ended the Honda Accord's three-year reign as top seller in the U.S. After a frantic last-minute sales blitz, which included generous rebates and below-cost offers to dealers, Ford won the crown by shipping 409,751 Tauruses. Despite a lackluster year for car sales in general, Ford executives had much to celebrate: the company's share of the new-car market pushed above 20%, as GM's and Chrysler's shrank...
Employers, who provide coverage for 85% of their workers, are staggering under the costs. Among the hardest hit are industrial giants, which support millions of aging retirees, whose medical bills far exceed those of younger people. Ford Motor, for example, was compelled to make a fourth-quarter write- off of $7.5 billion to account for the costs of providing medical coverage + for its retirees, a blow that will probably force the automaker to report the largest annual loss (nearly $7 billion) ever suffered by a U.S. corporation. AT&T expects to take a similar write-off this year, and General...
Japan's setback provides a moment of respite for America's Big Three, which have problems of their own. GM, the most bloated U.S. automaker, plans to lay off 74,000 of its 360,000 workers in a bid to cut costs. Ford will post an estimated $6 billion loss for 1992, largely because of a huge write-off for future retirement obligations. Chrysler remains saddled with $13 billion in high-interest debt...