Word: matic
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...farm income down, the farm-machinery busi ness slumped. The petroleum industry showed signs of overproduction; Sin clair Refining Co. and Phillips Petroleum Co. cut their crude-oil refinery runs 3 to 5% for September. Auto production fell moderately during August as auto makers began to feel the Hydra-Matic transmission pinch and output of 1953 models started to taper off in preparation for retooling for 1954. There was softness in some apparel lines and in some home appliances, and defense cutbacks have had a mild effect on aircraft-supplier plants...
...General Motors' modern, air-conditioned brick plant in Livonia, Mich, one day last week, the second shift had just filed in to start a normal day's work turning out Hydra-Matic transmissions for G.M., Lincoln, Kaiser, Hudson and Nash. Moments later, sparks from a welder's torch ignited an oil-soaked conveyor belt; suddenly flames leapfrogged from one drip pan to another. After that said Foreman Floyd Davis, everything "went up like a torch...
...bigger economic loss was to the whole industry's production and employment. It was estimated that 60,000 workers would be affected immediately, and that total U.S. auto production would be cut 10% to 15% for the rest of the year. Cadillac, which uses Hydra-Matic transmission exclusively, cut down to a five-hour day right away. Hard-hit Pontiac, which uses Hydra-Matic in 85% of its cars shut down entirely. Oldsmobile (98% Hydra-Matic) closed for two days, then opened for a four-hour-day schedule...
Ford's Lincoln-Mercury division (100% Hydra-Matic) with a 10-20 days' supply, prepared to expand Mercury production, cut back on Lincolns. Hudson (58%), shut down for a model change, has "a couple of weeks' supply"; Nash (33%) has enough for a few weeks, but has been shut down by a supplier's strike; Kaiser (60%) has been closed since June. Said G.M. President Harlow Curtice after inspecting Livonia: "At this moment every facility ... is being concentrated on the extensive rebuilding job that faces us . . ." Curtice moved fast, this week took steps to lease...
Final decision on whether the matic Club can use their Big Tree workshop for rehearsals was again post yesterday...