Word: peugeot
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Dates: during 1970-1979
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John Glenn, for example: Wolfe sketches him as a bit of a prig, a jogging, strait-laced Presbyterian driving an underpowered Peugeot, who scolded his colleagues for their after-hours whoopee. The current Senator from Ohio, Wolfe suggests, may have gone to NASA officials in an effort to replace Shepard on the first flight. Others, too, according to Wolfe, would act in ways that demonstrated that "feeling of superiority, appropriate to him and to his kind." Gus Grissom almost certainly blew the hatch too soon, flooding and sinking his capsule, and then stubbornly maintained that the machine "malfunctioned." Scott Carpenter...
Chrysler may have to sell off some more operations. Its small marine products division, which makes outboard motors and boats, and its 15% investment in France's Peugeot could well go on the block. The company may also sell one or more of its U.S. engine or transmission plants to a major importer like Volkswagen or Japan's Honda and work out a deal for Chrysler to buy back some of the production. In sum, the company will have to accept a reduced role in the auto market...
Though many U.S. companies have in fact been quietly cutting back their European operations for some years, the specter of a wholesale pullout was not raised until last summer. Then, Chrysler Corp. abruptly announced that it was selling its European business to France's Peugeot-Citroën for $430 million in cash and stock in the French company. Since then, alarmist charges have regularly bobbed up in Europe's press. "The American multinationals are deserting," warns a French economic weekly. "U.S. business is at ebb tide," declares a Belgian magazine...
...midst of its worst year since 1975, when it lost $260 million. The company lost $158.5 million in the third quarter alone, and its full-year deficit could reach $250 million. On the plus side, Chrysler in August sold its European automotive assets to France's Peugeot-Citroën in a deal that included $230 million in cash. Riccardo has announced that Peugeot-Citroën coughed up the $230 million this year, months earlier than expected. Nonetheless, Chrysler's board last week cut the company's quarterly dividend from 25? to 10? a share...
...Lazard has remained a loosely structured group of partners; it aims to avoid large-volume low-profit activities like brokerage and remain a "deal" firm specializing in big corporate sales and mergers. A recent Lazard achievement: it put together Chrysler's sale of its European operations to Peugeot. While, at larger firms, the earnings from such deals are typically shared by all the partners, at Lazard the partner who brings in a deal gets a big chunk of the profit...