Word: nadering
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With 200 Congressmen, auto exectives and Administration officials on hand at the White House, President Johnson last week signed into law two auto-safety bills. Also present: Ralph Nader (Unsafe at Any Speed). One bill offers federal financial incentives to the states to develop more effective traffic-safety programs. The other requires the Secretary of Commerce to promulgate, by next Jan. 31, safety standards that will become mandatory for automakers in their 1968 models. It also sets up, within the Commerce Department, a new National Traffic Safety Agency...
...removed thousands of young men and potential customers from the new car market. For another, the nation's tight-money policy made it harder-and more expensive-to buy a car on credit. Most of all, there was the great safety furor, spearheaded by Lawyer-Author Ralph Nader. At one point in July, the inventory of unsold autos, mostly as a result of customer scares over safety, reached 1,700,000, and manufacturers were forced to cut back drastically on production schedules...
...safety bill, similar to a measure approved earlier by the Senate, came almost as a relief to automakers, whose 1966 sales have been hurt by the bad publicity set off by the safety crusade of Lawyer-Writer Ralph Nader. Detroit's spokesman on safety, Ford Vice President John S. Bugas, watched the voting from the House gallery, called the bill "another move" that automakers could support. Even Nader was not entirely dissatisfied. Though he estimated that it will be 1973 before the bill's real impact will be felt, he allowed that the bill "enables us to begin...
...investor put money in the stock market and get a return from A. T. & T. at 3½% when he can buy Trust Co. of Georgia savings certificates at 5%?" As a result of this attitude, dollar losses among many blue chips have been staggering. G.M., already hit by Ralph Nader and the auto safety hearings, went from a high of 113¾ last October to a 1966 low of 78? last week; for 1,310,000 shareholders, this meant a total loss of $8.6 billion in the value of their investment. In roughly the same period, the world's most widely...
General Motors' sales have been badly hurt by the furor over auto safety. The special target of Author Ralph Nader (Unsafe at Any Speed) and other industry critics has been G.M.'s sporty little rear-engine Corvair. The 1960-63 models of the car had an axle design that was criticized for causing the rear wheels to "tuck under," thereby enhancing the possibility of rolls and skids. Partly due to such publicity, Corvair sales so far this year have been half those for the same period...