Word: renaults
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...Socialists invoke dubious economic theories to justify their action. According to Mauroy, the new state enterprises will enjoy the autonomy that has ensured the success of companies already in the hands of the French government, such as Renault (see box). But conservatives and a good number of Socialists doubt that Mitterrand will give the new state companies the same free-enterprise hand Renault enjoys. Central to Socialist doctrine is the view that the state should use nationalized industries to catalyze growth of an economy plagued by stagnation, record unemployment (7.7%) and rising inflation (14%). By controlling the banks and turning...
...idea that the state should own major industries conjures up images of such titans of inefficiency as the Postal Service or British Steel. French Socialists cite a far different example: the Renault automobile company, which General Charles de Gaulle nationalized in 1945 to punish Founder-Owner Louis Renault for allegedly collaborating with the Nazi Occupation and which today stands out as one of France's most dynamic enterprises...
...Renault is the world's fourth largest automotive firm.* It earned profits of $160 million last year, compared with a $349 million loss for privately owned rival Peugeot S.A. Well-heeled graduates of France's elite schools vie for jobs at Renault. So do assembly-line workers, whose tasks are made easier by an array of robots in some cases more sophisticated than those in Japan...
...Renault's secret is that it is run like a private company. The government provides about 10% of the financing, but it does not meddle in such decisions as the choice of car models. "We tell them what we are doing, at which point they can agree or disagree," Renault Executive Francois Doubin explains. "But I can't remember a single disagreement in my 16 years with the company...
...since February. At Ernie's Liquors in San Francisco, the cost of a bottle of Jadot Beaujolais wine has dipped nearly 30% to $4.99 in the past year. American Motors this summer has offered a 10% discount off the $7,398 sticker price of the Renault R-181 that it imports from France. Retail prices of Japanese electronic goods are expected to fall soon...