Word: mcwhirter
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...Kathleen Adams, Patrick Cole, Wendy Cole, Charlotte Faltermayer, Nadya Labi, Lina Lofaro, William McWhirter, Jeffery Rubin, Douglas Waller
...stock rises on the strength of his well-received State of the Union address. "The theory is that there aren't any bad economies in an election year because governments will find short-term solutions to put off a downturn until after the election," says TIME's William McWhirter. "But this time the government might not be able to do this." Speculators are already counting on a dose of pump-priming. The Dow soared 76 points Tuesday on expectations that the Federal Reserve would lower interest rates in an attempt to jump-start the economy. (A decision is expected Wednesday...
...continuing bad economic news, General Motors reported that its $6.9 billion in profits made 1995 the best year ever for the company. The company earned a record $1.9 billion in the fourth quarter alone. "This an organizational success, but not a sales success," reports TIME's William McWhirter. "GM cut sales and manufacturing costs and pruned its operation to the point where chairman Jack Smith even lost his private dining room. But the company's sales are down in the car division, and only their truck division continues to do well." Expect just the opposite when Ford's earnings...
DETROIT: General Motors this fall will become the first domestic automaker to mass-market an electric car. GM president Jack Smith unveiled the two-seater EV-1 Thursday at the Los Angeles Auto show. Detroit bureau chief William McWhirter reports that the EV-1 is an update of the Impact prototype that has been in development for the past decade: "This is not so much a technological breakthrough as it is a political coup by Jack Smith that caught the entire industry off guard. It may be a sign that GM is ready to shake off some of its marketing...
...first face-to-face meeting with the press since adding chairman to his title on New Year's Day, General Motors CEO Jack Smith told TIME's William McWhirter and a small group of automotive journalists that he expected the company to see a second consecutive year of profits in the North America. "This was a chance for him to emphasize that GM's financial recovery was not a fluke, and that he's fairly confident that he's returend the company to a much sounder operating structure than it's had in some time," says McWhirter. Smith, whose...