Word: motoring
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...Hotel in Washington, D.C. There, with the meeting filmed and recorded by nearby FBI agents, the two discussed, in the FBI affidavits' language, "the importation and distribution of heroin from Thailand and cocaine from South America as a means of generating large amounts of capital for the De Lorean Motor Co." De Lorean agreed to supply $1.8 million to begin the drug purchases...
Less hurt by the walkout is the Ford Motor Co., which decided earlier this year to become the exclusive auto sponsor of the 1982 World Series for $1.1 million per game. Said Ford Chairman Philip Caldwell: "We anticipated the strike and didn't invest as much in N.F.L. football this season...
This year, however, the failed smaller companies have been joined by such large, well-capitalized corporations as Braniff Airways, Wickes Cos., Saxon Industries and De Lorean Motor Co. Says Purdue University Professor William Dunkelberg: "The recession is performing the age-old process of creating leaner, meaner and more efficient firms. Unfortunately, the recession has also cut heavily into the lean and mean. We've lost established companies to low demand and high debt...
More and more, such sentiments typify the mood of the U.S. auto industry. After almost four years of slumping sales, soaring layoffs, and losses that at one point reached $5.2 billion, executives of the Big Three automakers (General Motors, Ford Motor Co. and Chrysler) have grown understandably wary of predicting almost any sort of recovery at all. Ford President Donald Petersen bluntly asserts: "There are no signs whatsoever of an upturn yet." Last week automakers reported a 13.4% sales rise during the mid-September period as compared with depressed 1981 levels. But analysts noted that the gain was something...
...from its difficulty in turning a profit on fuel-efficient small cars, the market sector in which foreign competitors are strongest. In the last two years, Ford has sold 600,000 subcompact Escorts, partly by holding prices so low that sales have barely covered costs. To stay competitive, General Motors is trying to reach an agreement with Toyota Motor Co. of Japan, in which the companies will jointly build small cars at an assembly plant in Fremont, Calif., that GM closed down early this year...