Word: lundine
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Dates: during 1970-1979
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Murphy's old job as vice chairman has been split between the cherubic financial vice president Oscar A. Lundin, 63, who will serve as chairman in Murphy's absence, and a soft-spoken "generalist," Richard L. Terrell, 55, who rose from messenger through a wide variety of jobs at GM to head the car, truck, body and assembly divisions. Terrell had been considered a candidate for president and chief operating officer, but that post went to a friendly rival, Elliott M. ("Pete") Estes, who replaces retiring president Edward N. Cole, an innovative engineer. Estes, 58, a jovial, mustachioed...
...events leading to GM's decision began in the final hours of the Nixon Administration. GM Executive Vice President Oscar Lundin and Vice President Henry Welch flew to Washington on Aug. 8-the day of Nixon's resignation speech-for a meeting with Herbert Stein, chairman of the Council of Economic Advisers, and Kenneth Rush, Economic Counsellor to the President. Following a decade-old GM practice, they came to give advance notice of the scheduled increase and explain why, in GM's view, it was justified...