Word: gm
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Dates: during 1980-1989
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...Ford, which racked up an industry-record profit of $1.6 billion in the first quarter, has increased its market share, but mostly at the expense of General Motors, whose share of U.S. sales has plummeted from 46% in 1984 to about 37.5% now. Two weeks ago, GM revealed that it is staging what amounts to an orderly retreat in the face of both domestic and foreign competitors. The company will cut back on capacity, which will make recovering its lost market share difficult...
That strategy by GM -- America's leading industrial company -- will bolster its profitability but do nothing to help the U.S. close the trade deficit. Nor will any trade bill Congress devises have much chance of success if U.S. companies lose their resolve to outhustle and outsell foreign competitors...
After a promising debut, the car got into trouble. Last year GM had to conduct a reputation-denting recall of all 1984 models because of a defect that occasionally caused engine fires. Fiero's demise may also have been helped along by steep insurance rates, which ran as high as $5,000 in some states because the young unmarried men who favored the auto were generally considered high-risk drivers. Fiero suffered too from a surfeit of two- seaters. With as many as five other such cars seeking a chunk of a dwindling market, Fiero sales fell from nearly...
Wall Streeters applauded the Fiero's dumping as a decisive move by GM, which has endured sagging profits in the past two years. But the news caused no cheer in Pontiac (pop. 76,715), Mich., where GM will idle the Fiero plant and lay off 1,100 workers...
...Games' official credit card; ^ American Express, MasterCard and Diners Club cards are thus not being accepted at any Olympic ticket office or venue (though they find ready acceptance at Calgary hotels and restaurants). General Motors has the right to supply all the vehicles used by Olympic officials, and because GM cars are getting preferential parking at Olympic venues, many auto-rental agencies rushed to replace the Fords they had been using with Chevrolets, Buicks and Oldsmobiles...