Word: jeeps
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...standout guard for the University of Texas at El Paso, Hernell ("Jeep") Jackson, 23, was a local hero in a basketball-crazy city. His stunning leaps and savvy playmaking had helped his team win four Western Athletic Conference titles. Drafted this spring, he was headed for the U.S. Basketball League's Philadelphia Aces. Then early this month, during a benefit game, he collapsed and died...
...purchase of stock from other shareholders, is expected to be at least $1.1 billion. That could be a steep price to pay for a company that lost $91 million last year on sales of $3.5 billion. But Iacocca has coveted several valuable AMC assets. Among them: AMC's popular Jeep division, which sold a record 207,514 vehicles last year; a new Renault auto-assembly plant in Canada built for $340 million but now worth an estimated $800 million; and AMC-Renault's 1,472 North American dealerships...
More important, perhaps, the purchase of AMC's Jeep line helps Chrysler, which has led the way with such innovations as the minivan, leap into a market segment where it is not represented: the fast-growing sport-utility line. Some 732,000 sport-utility vehicles, including such models as the Jeep Cherokee, Ford Bronco II and Chevy S-10 Blazer, were sold last year, offering a new kind of competition to the suburban station wagon. That total could reach 1 million...
...Rambler, in competition with what Romney called the "gas-guzzling dinosaurs" of Detroit's Big Three. After Romney's departure, the firm tried to compete head to head with the Big Three, with increasingly dismal results. The company's last big coup came in 1970, when it bought Kaiser-Jeep, the manufacturer of the descendants of those rugged vehicles that become famous for carting around the American military during World...
...soon to consign AMC to the corporate scrap heap. Its rugged if hardly racy Jeep Cherokee line continues to grow in popularity. Moreover, the company has built a modern $340 million plant near Toronto that will turn out spiffy new models designed to change AMC's reputation as a producer of small, unexciting cars. Says AMC President Joseph Cappy: "We are finally poised for that turnaround we've been talking about for so long...