Word: jointness
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Dates: during 1990-1999
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...this is not meant to be a cry for sympathy. It was my decision to be a joint concentrator, against the advice of friends, parents and tutors. Yet are all of these classes truly necessary...
...kind of cute, actually, how they came to be an item: following some small talk last year over a possible joint venture in Latin America or maybe Asia, Juergen Schrempp, 53, chairman of doughty Daimler-Benz, invited Chrysler chief Robert Eaton, 58, to spend some quiet time alone during the crowded Detroit Auto Show in January. Schrempp said he liked Chrysler a lot and suggested that maybe they should consider going...
...alliance with Samsung Motors Inc. GM, still the world's largest automaker, owns Germany's Adam Opel AG, the U.K.'s Vauxhall Motor Cars Ltd., Holden's in Australia, 50% of Saab Automobile AB in Sweden and about a third of Isuzu. On top of that, GM operates a joint venture in Canada with Suzuki Motor Corp. and an assembly plant called NUMMI in California with Toyota...
Specifically, Iacocca's Global Motors was to be an alliance of Chrysler and Volkswagen (or Fiat or Renault if VW didn't want to play), with American Motors thrown in to make trucks and utility vehicles. American-designed cars would run on German (or Italian) engines, and joint dealerships around the world would be able to match the market penetration that only GM and Ford had at the time. It was one of Iacocca's typically brash ideas...
...major cost-cutting opportunities. For example, the two companies combined spend $7 billion on R. and D. every year. Much of the money that goes into research on, say, safety or fuel-cell technology can be put under one umbrella for savings. Economies can also be extracted from joint purchases of raw materials. "Daimler and Chrysler will maximize the number of common parts they're using for their cars," says Christian Breitsprecher, a Dusseldorf-based industry analyst. "Engines, engine control systems, transmissions, door locks, seats--you name it." As Eaton insisted to TIME, "There's $100 million of savings...