Word: gm
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Dates: during 1990-1999
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...GM's problems have not been felt as severely at the other two Detroit automakers. Ford and Chrysler went through their own major retrenchments in the 1980s and have been able to make stronger commitments to team-production techniques. In terms of corporate structure, "size guarantees you nothing anymore," says Chrysler president Robert Lutz. "It's not necessarily the small buildings that are the most affected by earthquakes. Skyscrapers are just as vulnerable...
Japanese automakers, whose success in the U.S. has come largely at GM's expense, feared that the Detroit automaker's cutbacks would add fuel to the political backlash against Japan. Toyota, for one, took the remarkable step of publicly expressing sympathy for laid-off GM workers. Next month the chiefs of the Big Three U.S. automakers will accompany President Bush on a trip to East Asia, where they are expected to urge Japan to buy more U.S.-made autos to reduce the trade deficit. But more radical measures are brewing in Congress. House majority leader Richard Gephardt and Michigan Senator...
...GM, even after shedding as many plants and people as there are in all of Chrysler, will still be the world's largest automaker -- but no longer the richest. Toyota, Japan's leading carmaker, has $12.7 billion in cash reserves, vs. GM's $3.5 billion. Toyota shows every indication of reinvesting its huge sums to improve both product and design. Unless GM can return to profitability and make similar investments, the current cutback won't be its last...
...CAPTION: GM's total profits and losses in billions...
...GM's share of U.S. car market