Word: gm
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Dates: during 1970-1979
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...products because they already produce them abroad. According to a confidential State Department study, U.S. multinationals in 1970 were producing $200 billion worth of goods abroad. That was nearly five times greater than total U.S. exports and, if anything, the gap has widened. The large American multinationals, such as GM, Ford, ITT, Kodak and IBM, understandably do not wish to undercut their foreign operations by increasing exports of finished products from the U.S. To a degree, multinationals benefit the U.S. because much of their profit is returned home in the form of retained earnings ($20 billion...
Downsizing, begun in the '76 model-year by GM with its Cadillac Seville and Chevrolet Chevette, has spread to most of Detroit's bigger '79 cars. Chrysler has introduced a New Yorker that looks much like the large cars of old; yet it is 800 lbs. lighter and 9 in. shorter than last year's version. GM shortened its Cadillac Eldorado by 20 in. and slashed 1,150 lbs. from its body, thus slaying, presumably for good, the last of GM's giants. The few remaining 1978 Eldorados are selling briskly to speculators who hope...
...exteriors shrink, automakers are turning more and more to front-wheel drive as a way to maintain interior space; it eliminates the transmission hump in the floorboards. Buick's Riviera has front-wheel drive for 1979. In the spring, GM will introduce a front-wheel drive Chevy Nova. Ford has lagged behind GM and Chrysler (with its Omni/Horizon) in getting into front-wheel drive; its only entry in the field now is the Fiesta, which it makes in Spain and sells in the U.S. But Ford intends to produce a front-wheel-drive car domestically...
Among the U.S. firms that have been most severely criticized by South African black activists are Revlon and GM. While Revlon has been cited for lack of training programs, unfair pay policies and other grievances, the GM case has been especially ironic in view of Sullivan's presence on the parent company's board. But last summer, after 278 blacks and coloreds had signed papers to have dues deducted for a union, they were invited to the company's welfare department and asked if they understood what they had done; most of the workers subsequently withdrew their...
...African licensee because its film was being used on the infamous passbooks that blacks and coloreds are required to carry and show upon demand to the police. Citibank will no longer make loans to the South African government; the First Pennsylvania Bank will give no loans of any kind. GM, Kodak and Control Data have said they will not expand their South African operations...