Word: motorized
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Dates: during 1980-1989
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...third quarter were down by about 21% on average from the same period a year ago. Many recession-battered firms in such bedrock industries as mining, steel and autos suffered stunning losses. Aluminum Co. of America ran a $14 million deficit, Bethlehem Steel Corp. lost $209 million, and Ford Motor Co. $325 million...
...solid for launches beginning late next year and running through 1985. Meanwhile, a no-frills private-enterprise launching service, Space Services Inc., successfully tested a launch rocket last summer at Matagorda Island, Texas. The prototype rocket, dubbed Conestoga I, was built in part from spare NASA assemblies, including the motor from a solid-fuel Minuteman missile. The firm's owners now plan to go into commercial service in 1984, with monthly launches starting two years later. With space technology rapidly advancing and the competition for launches beginning to perk up, prices may start dropping out of orbit long before...
...final fate of De Lorean Motor Co., which made its sports cars at a plant in Northern Ireland, remains in doubt. De Lorean allegedly engineered the cocaine deal to save the company from financial collapse. Last week DMC lawyers in Michigan filed for reorganization under Chapter 11 of the bankruptcy laws to protect the company's major U.S. assets-650 cars worth $ 13 million or so-from an onslaught of perhaps 700 creditors. At week's end an Ohio-based company, Consolidated International Inc., reached agreement with British officials to buy some 1,000 unsold cars in Ulster...
...cars in a little more than 21 months, the Thatcher government ordered the plant shut down. With that, some of the plant's remaining 35 employees had a last fling, taking the wheel of De Lorean's cars, called the DMC-12 (after De Lorean Motor Co.), for a few turns around the premises. Hundreds of other workers in Northern Ireland stood to lose their jobs with companies that supplied the factory, a tragic circumstance for a place that has an unemployment rate of about 22%. De Lorean's project was obviously risky, but it was doomed...
There are serious doubts in the auto industry, though, that the DMC-12 will turn into a collector's item, like the Cord or the Edsel. One such skeptic is Semon ("Bunkie") Knudsen, retired president of Ford Motor Co. and mentor of De Lorean when both were at GM. Says he: "Usually you have to have cars built in really small quantities to be collector's items, perhaps 700 or less...