Word: marketed
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Dates: during 1970-1979
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...Manhattan is many tons lighter because most of its psychiatrists have gone to Martha's Vineyard and the Hamptons on Long Island. There seems a bit less of the manic energy that existed in the 1930s when, for example, Fiorello La Guardia raced to the Bronx Terminal Market at 6:30 in the morning with a pair of buglers to announce that he was banning the public sale of artichokes because the wholesale supplier was controlled by gangsters. But New York, as always, is a state of mind; it is what you think it is. Not long...
...spending market is born: two-career couples...
...cash and Peugeot stock. If the deal is approved by the European governments involved-indeed, Britain may torpedo it -Peugeot would become the biggest auto manufacturer in Europe and fourth largest in the world, with sales right behind those of Chrysler itself. Chrysler would get out of the European market completely, except for its 15% share in Peugeot, thus shedding 70% of its foreign production and about a fourth of its worldwide output. Additionally, in the past year the company has sold operations in Argentina and Turkey to local investors; it is dickering to have Japan's Mitsubishi take...
...President Eugene Cafiero spoke of a need to concentrate the company's resources in North America. The point could be put more bluntly: Chrysler is so strapped for cash to spend at home that it can no longer afford aspirations to global power. Its share of the U.S. market has dropped to 12.8% this year, from 16.2% in 1970, and it must spend $7.5 billion over the next five years to expand and modernize its U.S. plants. It has no hope of financing those expenditures out of depreciation and retained profits-if indeed there are any profits. There will...
...Wall Street was quick to appreciate. Although Chrysler's stock jumped after the announcement, it quickly fell back, closing the week at 12.5. But experts applauded the decision. Said Arvid Jouppi, a top Detroit analyst: "Chrysler's strategy is to become strong domestically and abandon the world market. I would rather have 15% of a strong company like Peugeot than overseas assets that were too heavy to bear...