Word: forde
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...cheap dollar, or any cheap currency, offers both advantages and disadvantages. It all depends on where you stand. American manufacturers generally like a lower dollar because it slashes the cost of their products overseas and thus helps exports. For example, Ford expects the low exchange rate to boost sales of its new right-hand-drive compact, the Probe, which it plans to ship to Japan. A cheap dollar, however, increases inflation because U.S. consumers have to pay more for such foreign goods as Louis Vuitton luggage or Hermes scarves. A declining currency is also seen as a vote...
...Bill Clinton by 25 points in national polls. Many Republican lawmakers, frightened by local surveys that show Bush dragging them down, are skipping the Houston convention. And the G.O.P. is ideologically riven -- over issues from abortion to supply-side economics -- as it has not been since 1976, when President Ford, weakened by a primary fight against Ronald Reagan, lost to Jimmy Carter...
Former President Gerald Ford, the lastRepublican candidate to lose a presidentialelection, began the final session of theconvention with a speech that chornicled thesuccessful Republican presidential terms and endedwith a quote from Former President John Adamsabout who should reside in the White House: "Maynone but honest and wise men ever rule under thisroof...
...during part of the reporting period, these profits -- the first since the recession began in 1990 -- came less from new product than from continuing cost-cutting programs and reductions in rebates and discounted fleet sales. Even so, there were encouraging signs that both companies might extend their winning streak. Ford's conservatively restyled Taurus has come up a winner in the high-volume midsize-sedan market and is steadily gaining on Honda's Accord as the nation's best-selling car. Chrysler has nothing but new products to come, including its own line of sleek midsize LH sedans...
...single quarter, of course, does not guarantee a full year's comeback. Citing the U.S. economy's anemic 1.4% growth in gross domestic product, Ford's chairman, Harold Poling, warned that his company intended to stockpile its winnings against a traditionally weak third quarter and refused even to chip in a dividend boost for shareholders. General Motors is expected to remain in the losers' column when it reports its quarterly earnings this week, mainly because of huge write-offs from its troubled Hughes defense subsidiary. "We haven't had any real recovery yet," cautions Shearson Lehman analyst Joseph Phillippi...