Word: gm
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Dates: during 1970-1979
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...kiss-and-tell exposé of GM...
...Clear Day You Can See General Motors (Wright Enterprises; $12.95) was written by J. Patrick Wright, former Detroit bureau chief of Business Week. But by all accounts it is drawn from the words of John Z. (for Zachary) DeLorean, a 17-year GM veteran who abruptly quit a $650,000-a-year job as group executive for cars and trucks in 1973. DeLorean, now 54, had a good shot at the GM presidency. But apparently his fast life, long hair and penchant for marrying young women (thrice) and divorcing them (twice) did not fit the GM mold...
...company will save about $200 million by deferring payments into its pension plan next year and a further $203 million over the next two years by delaying some wage raises and benefit improvements. By the end of the three years, however, Chrysler workers will be earning the same as GM and Ford employees, and the industry's hourly labor costs-wages, fringe benefits and pensions-will have jumped about one-third...
...year; front-wheel drive means shorter hoods, lighter weight and, consequently, less use of fuel. Concerned by the size of the investment gamble, Henry Ford demurred. That was a mistake. When the gas lines reappeared, and Americans shifted to small cars, Ford was still offering its decade-old Pinto. GM, with its snazzy new fuel-sipping, front-wheel-drive X-cars, pulled away from both Chrysler and Ford. GM now has 46% of the U.S. auto market, and imports have...
...subsidies on tobacco are "different." Everything is "different." Where were the free enterprisers in '67 with the Highway Safety Act, in '70 with the Clean Air Act and in '75 with the Fuel Conservation Act? Those laws have us so regulated that a while ago, when GM put out a price rise of $244, $186 of it was ascribed to Government mandates...