Word: gm
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Dates: during 1970-1979
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...auto industry executives were pitching in with efforts of their own. Chrysler Chairman Lynn Townsend declared "a new car is the best buy you can get in America today." Outgoing General Motors Chairman Richard Gerstenberg, in a signed newspaper advertisement, once again made clear that what was good for GM was good for the country. "When you buy a new car," he said, "you help America's economy." Even the United Auto Workers chimed in with plans for an ad campaign to stimulate sales...
...small daily volume and could shrink rapidly if the pace picks up. Ford, with a 50% third-quarter profit decline and an early November sales dropoff of 36%, is also reducing its work force; layoffs could reach 54,000, including at least 3,000 white-collar staffers in Dearborn. GM's layoffs now total 53,000, and last week the company said that it would close nine plants for part of December, idling 30,000. Reason: GM's earnings have dropped 76.5% so far this year, and early November sales fell...
...picture remains gloomy despite record prices for trade-ins. Ford and GM have generated figures showing the apparent ease of new-car purchases leveraged by higher used-car value. A two-year-old, fully equipped Ford LTD, for example, would bring $2,700 now, v. $2,225 a year ago, helping offset the higher 1975 LTD price of $5,243. A two-year-old Chevy Impala, says GM, is worth $376 more this year than last year, while a year-old Firebird brings $725 more. Even so, most owners cannot take advantage of higher values for late models. Reason: trade...
...films by various government agencies as well as films by radical film-makers working outside the commercial movies industry. Viewed in juxtaposition, these films convey the political tensions of a decade. United Action Means Victory(1940), a production of the United Auto Workers Film Department, which celebrates the 1939 GM tool and die strike, will be shown along with The Memorial Day Massacre (1937), a newsreel suppressed by Paramount executives for being too inflammatory. Willard Van Dyke's Valley Town(1940), a film showing the devastating effects of technological unemployment, will be screened with Walter Niebuhr's Machine: Master...
...team has two strategies. First, brake the soaring costs of production (estimated to be rising at $50 a car each month) by building more components in-house and striving to increase productivity. Second, increase fuel economy by trimming hundreds of pounds from the average 4,500 lb. weight of GM's full-size cars by 1978; that would doubtless increase sales of those models. Murphy also expects that material costs will ease fairly soon as demand cools hi the world economy...