Word: meet
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Dates: during 1970-1979
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Wary of Congress's reluctance to bail out Lockheed in 1971 and New York City in 1975-the legislators finally voted for both programs by small margins-the Carter Administration laid down basic conditions that Chrysler will have to meet...
...Government rejected Chrysler's plea that it receive aid in the form of either federal tax refunds or immediate relief from having to meet the costly safety, environment and mileage standards on new cars. Miller said the former idea would amount to an "interest-free, unsecured cash advance from taxpayers' funds." Instead, he recommended Government loan guarantees that will have to be approved by Congress and will "total considerably less than $1 billion...
...combination of squeeze and sacrifice is expected to meet the Treasury's conditions, but Congress will be harder to sell. The aid package will go before the banking committees of both the Senate and the House...
When Riccardo took over in 1975, the public was demanding smaller, more fuel-efficient cars, but Chrysler, unlike GM and Ford, lacked the money to retool and redesign quickly. With smaller sales than the other two automakers, Chrysler had to spend nearly twice as much per vehicle to meet Government rules. Pressed for cash, the company had to slash its budget for plant modernization...
...those arguments can be countered. Even if Chrysler were to fail, another company would take over its tank business; the domestic auto industry would remain competitive because Volkswagen is expanding production in the U.S.; other auto manufacturers would enlarge their production-and hire plenty of workers to meet it. Still, the threat of unemployment, even if temporary and spotty, was the decisive point for Administration policymakers in this preelection, recession year...