Word: nordhoff
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Though the success of West Germany's Volkswagen has been one of postwar Europe's most glittering economic achievements, aggressive Chairman Heinz Nordhoff, 64, feels that a moment of relaxation by his company could be fatal. "What an auto company loses in the market today," says Nordhoff, "it probably can't recover in the next 50 years." To keep Volkswagen from slipping-it is now the world's third biggest automaker, after General Motors and Ford-Nordhoff plans to spend $375-500 million on expansion in the next five years, lift Volkswagen's annual capacity...
...Nordhoff is also broadening Volkswagen's sales appeal. Encouraged by the growing desire of car buyers to trade up-a tendency that is rapidly becoming as pronounced in Europe as in the U.S.-Nordhoff is quietly placing more emphasis on a new and bigger Volkswagen: the Volkswagen 1500, which bears little resemblance to its beetle-shaped little brother, now officially designated the 1200. The 1500 is about six inches longer and three inches wider than the 1200, has fairly orthodox lines and a pronounced front hood -even though its more powerful engine remains in the rear. It sells...
Despite West Germany's current economic slowdown, German industry's most famous product is still speeding along fast enough to puncture a few egos in Detroit. In a letter to his shareholders last week, Volkswagen Chairman Heinz Nordhoff, 63, announced that the company's 1962 sales seem certain to reach $1.4 billion-a 25% increase over 1961. The total number of Volkswagens produced this year will be well over a million, which will put VW second only to G.M.'s Chevrolet Division as the world's biggest producer of a single make of auto. Biggest...
...with. On the morning of April 28, 1789, goes one version of the story. Captain William Bligh of H.M.S. Bounty refused to give a drink of water to a dying man and his crew staged a mutiny. The incident inspired a trilogy of bestselling novels (1932-34) by Charles Nordhoff and James Norman Hall, and a supercolossal saga of the sea (1935) starring Clark Gable as Fletcher Christian and Charles Laughton as Captain Bligh. In 1959, figuring that the public was ready to stretch its sea legs again, M-G-M decided to refloat The Bounty. So the wind blew...
...using so much of their past earnings for current expansion, many German firms have also left themselves with dangerously small capital reserves. Undercapitalization caused the-recent downfall of Shipbuilding Tycoon Willy Schlieker. Heinz Nordhoff, the boss of mighty Volkswagen, thinks his company's reserves of less than $150 million are too small for a company with annual sales of more than $1.3 billion. To carry out adequate expansion and modernization programs, German industry as a whole needs an estimated $7.5 billion that it does not have...