Word: lanzilotti
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Model Application. Chrysler asked for a 5.9% price hike to reflect the two-step wage increases of 7% that automakers will begin paying this week. The commission bounced the application and demanded more facts. Says Economist Robert F. Lanzilotti, a commission member: "We need to know more about their costs in terms of direct labor, materials, plant burdens, corporate burdens. I know that this information exists, and we want...
...with actual results to determine that the company has developed reliable methods of predicting what earnings will be at a given level what earnings will be at a given level of car sales, and then accepted American's contention that a 2.5% price rise will not increase profit margins. Lanzilotti pledged, however, that the commission will keep a close watch on American Motors' margins, and will roll back the price rise if it finds that they are being excessively fattened...
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