Word: forded
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Dates: during 1980-1989
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...Gerald Ford, 68, former President, on his new athletic skills: "I fall down less on the ski slopes and hit fewer spectators on the golf course...
There were several other surprises at Ford last week. Chrysler declared that it had outsold Ford during early 1982, the only time it has done so in a nonstrike year since 1953. The company angrily retorted that Chrysler had distorted the figures by including the sales of 2,768 Japanese vehicles that it imports. Ford shareholders also got a shock when the company announced that it would not pay a dividend for the first three months of this year. This will be the first time Ford has skipped a stock payment since going public...
With the price of an average new car now just under $10,000, most industry observers think it will take a price reduction of at least $1,000 to stimulate sales. Notes Ford Chairman Caldwell: "A $100 cut will do practically nothing when there are rebates out there of $500 or even...
...Reagan and his party, economic paralysis is even more dangerous than it was to Ford and Carter. The Republicans swept into power in 1980 by promising a massive revitalization of the economy that would primarily benefit blue-collar workers. Convening, appropriately, in Detroit itself, they proclaimed a "new populism" based on supply-side economics. GOP party chairman Bill Brock promised "jobs, jobs, jobs"; the President himself informed the Carpenter's Union several months ago of an imminent "American renaissance that will astound the world; a new era of good feeling in America, a time when jobs will be plentiful...
Such distress is inevitably politically devastating; just ask defeated presidents Gerald Ford or Jimmy Carter, both of whom were done in by blue-collar unemployment. Blue-collar unemployment under Ford hit 11.7 per cent, lingering at 9.4 per cent on election day. Under Carter, the figure rose from 6.9 per cent in 1979 to 8.9 per cent for the first five months of 1980. Ronald Reagan doesn't face the voters for two and a half years, but unemployment highs under him already exceed marks of his two ill-fated predecessors. The severity of the nation's economic crisis threatens...