Word: gm
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Dates: during 1980-1989
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...medical team that treated victims of the Chernobyl nuclear disaster last year. Gale had just returned from Rio de Janeiro, where with an international group of physicians he had spent ten days treating six badly irradiated victims of a bizarre accident in Brazil with an experimental drug called GM-CSF. "When it comes to these disasters," concluded Gale, who will soon return to Rio, "all the handbooks on treatment will have to be rewritten...
...year to trim 3,500 white-collar employees from Chrysler's salaried work force of 38,000. In addition, the company will suspend production at an assembly plant in St. Louis for two weeks this month and will cancel plans to produce the Allure coupe. At GM, Chairman Roger Smith said the company would cut its costs by $4 billion, or 4%, next year. Some of the savings will come from accelerating a program to close 16 aging manufacturing operations...
...million shares are sold. At DLJ two blocks away, glowing green figures on computer consoles trace the market's fall. "We're going underwater!" shouts Trader John Sesko as he pops Tic Tac candies into his dry mouth. "55,000 Pepsis to sell!" barks one trader. "60,000 GM to sell!" yells another. The cries do not stop. "Boston wants to sell 30,000 J.P. Morgan!" Long before lunchtime, a trader shouts, "Hamburger to go! Hamburger to go in six figures!" He wants to peddle 100,000 shares of McDonald...
...Cafazza had sold his stock holdings during the previous three months, for a profit of $100,000. Then, in September, he bought so-called puts on General Motors -- options to sell the company's stock at a fixed price in the future. On the Friday before Black Monday, as GM stock nose-dived 4 7/8 points to close at 66, Cafazza cashed in his options, which soared in value because their set purchase price was higher than the worth of the slumping GM shares. In the process, he made an additional...
Sources close to the talks said the GM pact closely parallels the one that the U.A.W. and Ford reached in September. That contract gave Ford workers a 3% wage hike in the first year, along with 3% lump-sum payments in both the second and third years. Far more important to the U.A.W. was the issue of job security. The Ford deal imposed a moratorium on plant closings and barred layoffs for any reason other than a severe sales slump. From GM, the U.A.W. apparently received similar assurances about future employment levels, but in an important concession, the union will...