Word: gyllenhammar
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...Geneva-based General Agreement on Tariffs and Trade last week issued a long-awaited study on ways to help lift trade barriers. The 60-page report was put together by a group of seven public and private officials who included Democratic Senator Bill Bradley of New Jersey and Pehr Gyllenhammar, chairman of Volvo. If global commerce were allowed to flow freely, they argue, the world as a whole could regain the vigor that it showed from 1950 to 1973, an era the report describes as "the most dynamic single generation of widespread growth in human history...
...result, European economies have been developing few new jobs, and unemployment in Western Europe has gone from about 3% to 11% since 1970. In roughly the past decade the number of jobs in the European Community has risen only .5%, in contrast to 15% in the U.S. Says Pehr Gyllenhammar, president of Volvo, the Swedish car manufacturer: "Europe has grave problems-no growth, more people without jobs, little investment and sluggish productivity. Europe is not creating new resources, but is declining under the pressure of increased competition. When things are dying, we do not let them die any more. Companies...
...deals were engineered by Volvo's patrician chief executive, Pehr Gyllenhammar, 47. He belongs to Henry Kissinger's blue-chip international consulting group and wears a steel-banded watch on each wrist, one set for Goteborg time, the other for New York. Says he: "The diversification is not an escape from automobiles, but we believe that the industry is so strangled at the moment that it leaves no room for us to maneuver...
Volvo intends to control its sales growth in the U.S. by limiting the number of cars it exports. Says Gyllenhammar: "If we try to react too quickly to styles and trends, we lose our honesty. We have stayed away from putting green fur covers on the seats because someone says he might like green fur seats." If volume continues to increase, however, one option is to open the U.S. assembly plant that Volvo built in Chesapeake, Va., but decided in 1974 not to operate. Whether an American-made Volvo would diminish the Swedish mystique, only those loyal and affluent buyers...
...Gyllenhammar marvels that almost 11 million Americans have found jobs in the past three expansive years, but he worries that large legions are easily laid off when business turns down. It would be wiser, he argues, for companies not to hire so many people in good times and not to fire so many in bad times. Instead of dismissing them, perhaps the company could train them for other jobs, which they would get when business turned up again. Says he: "People take the punishment for your lack of planning. One wonders how these people react when they are hired...