Word: gm
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Dates: during 1970-1979
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...declines that have repeatedly led the economy into recession since World War II. But its impact might be magnified by a reduction in credit-financed buying of other goods, notably cars. Last week General Motors cut its year-end dividend to $2.50 a share, from $3.25 a year ago. GM officials formally clung to their prediction that car sales will total a near record 11.5 million next year, but added that high capital outlays make it wise for the company to conserve cash...
...turn this company around, then I will have capped a career. I will have helped 200,000 people in their livelihoods. We are the biggest private employer in Detroit; I would have helped the city. They won't know it, but I will have helped GM and Ford compete more So what the hell more would you want to do to end an auto career? The only other option, I guess, was to take all my money...
...firm operating in more than one country will not deliberately choose unnecessarily costly locations to build its products. To do so would mean losing profits that could be made by manufacturing products at more efficient locations. In the intensely competitive worldwide market in which GM operates, such a patently inefficient procedure would probably make it impossible for GM to make any overseas sales at all. As you recognize, moreover, multinationals "benefit the U.S. because much of their profit is returned home in the form of retained earnings." In 1977 GM's total international transactions resulted in a net inflow...
...normal standards, certifications and product health and safety regulations, foreign imports have to face lengthy and expensive testing procedures. Until very recently, even the smallest error gave minor bureaucrats an excuse to order the whole thing redone. Certification, laments John Quick, vice president in charge of GM's Asia-Pacific operations, is "a long, involved process that can take up to eight months" and requires "carloads of papers...
...stories that wafted on the early-autumn Corning air were painfully autobiographical. Marilyn Bereson of public TV's Consumer Survival Kit had so much trouble with her car that she declared publicly at another consumer conference that she would never again buy a General Motors product. A GM executive from Detroit called soon after to solve her problem. And there is the case of Esther Peterson, the nation's highest-ranking consumer-affairs official. An unfunny thing happened to her on the way to the Action Line Conference. She showed up at the Commuter Airlines counter at Washington...