Word: forded
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Dates: during 1980-1989
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...Secretary of State for Economic Affairs, gave him a farewell roast at Washington's Mayflower Hotel. Hormats, at 39, is a grand old man of global negotiating. To send him off they showed pictures from his twelve years in Government: Hormats with Pope Paul VI, Hormats with Jerry Ford, Hormats with Nelson Rockefeller. The evening's message was mellow and misty and it said one thing: Bob Hormats could not do what he has done any place else, and when he's earned a little money he'll be back...
More and more, such sentiments typify the mood of the U.S. auto industry. After almost four years of slumping sales, soaring layoffs, and losses that at one point reached $5.2 billion, executives of the Big Three automakers (General Motors, Ford Motor Co. and Chrysler) have grown understandably wary of predicting almost any sort of recovery at all. Ford President Donald Petersen bluntly asserts: "There are no signs whatsoever of an upturn yet." Last week automakers reported a 13.4% sales rise during the mid-September period as compared with depressed 1981 levels. But analysts noted that the gain was something...
...Chrysler's new E Class and Dodge 600, which are actually artfully stretched versions of the Plymouth Reliant and Dodge Aries K-cars that were first introduced in 1980. By and large, the automakers will barrage the public with advertising messages that emphasize value more than innovation. Ford has already cut the sticker price on its subcompact models...
During 1983, manufacturers hope to make up for lost sales. Ford plans to unveil its first compact front-wheel-drive cars, the Ford Tempo and Mercury Topaz, along with a new softly rounded, highly aerodynamic Thunderbird. General Motors is readying two sports cars of its own for the market: a revamped Chevrolet Corvette, and a small new two-seater from Pontiac...
Detroit suffers especially from its difficulty in turning a profit on fuel-efficient small cars, the market sector in which foreign competitors are strongest. In the last two years, Ford has sold 600,000 subcompact Escorts, partly by holding prices so low that sales have barely covered costs. To stay competitive, General Motors is trying to reach an agreement with Toyota Motor Co. of Japan, in which the companies will jointly build small cars at an assembly plant in Fremont, Calif., that GM closed down early this year...