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...government has been presented with a pistol at its head," Prime Minister Harold Wilson reported to the British House of Commons. He had just been told by John Riccardo, chairman of Chrysler Corp., that if Chrysler United Kingdom Ltd. does not get massive aid -perhaps $210 million-from Wilson's government, it would pull out of Britain, adding tens of thousands to British unemployment rolls that already total 1 million...
...woes. Chrysler also has many troubles of its own. Since it came to Britain in 1964, it has introduced only one genuinely new car, the rather ordinary five-passenger Avenger sedan; its two other models-the Volkswagen-like Imp and the Hunter-were developed by Rootes Motors Ltd., the company that Chrysler bought. Accordingly, Chrysler's share of the British auto market has dropped from a high of 12% in 1967 to less than 7% this year. Since January, Chrysler has laid off 4,000 employees and put the remaining 25,000 on a work week of three days...
...from scratch in the 1960s, James Derrick Slater endured the longest. Americans like James Ling (Ling-Temco-Vought), Bernie Cornfeld (Investors Overseas Services) and John King (King Resources) saw their corporate houses of cards collapse around them, but England's merger lord and his mammoth Slater, Walker Securities Ltd. seemed to grow more prosperous every year. Now Slater, 46, has also had his comeuppance, His company's role in alleged fiscal improprieties is under investigation in Hong Kong and Singapore; he has resigned as chairman of Slater, Walker and gone into seclusion. Last week the Bank of England...
...receiver, Clarkson Co. Ltd., an accounting firm, will determine over the next several weeks whether the company can be reorganized. The odds on the Bricklin car rising Phoenix-like, however, are poor. Bricklin claimed last week to have lined up more than $10 million from new U.S. investors, and earnestly solicited an additional $10 million to $15 million from the New Brunswick provincial and Canadian federal governments. But Prime Minister Pierre Trudeau's administration is cutting its budget to attack inflation and is in no mood to boost new spending. New Brunswick's Progressive Conservative premier, Richard Hatfield...
...reputation as one of the world's most lucrative-and safest-havens for investment. Now that reputation is being tarnished: for the first time in memory, one of the colony's fabled hongs (trading companies) is struggling to avert financial collapse. The endangered hong is Hutchison International, Ltd., a conglomerate with a labyrinthine network of more than 350 subsidiaries and affiliates, including diamond merchants, earth movers, fashion boutiques and a mailorder business that deals in food, fowl and live animals...