Word: retooled
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Dates: during 1980-1989
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Some oil companies complained that the EPA ruling gives them too little time to retool their equipment to produce fuel that meets the new standards. As a result, the producers warned, temporary shortages of low-lead gas could occur...
...lead out will be far greater than the cost. The agency said the move would create overall savings of $1.8 billion in the form of lower medical bills and increased fuel economy. By contrast, staff members estimated that refiners will need to spend only about $575 million to retool their facilities, or less than 1% of the current total cost of making gasoline. That could push the price of leaded fuel, which still accounts for some 45% of gasoline sales, close to the level of the unleaded variety...
Even as Detroit was closing plants and laying off workers, it was investing heavily in new technology. Since 1980 the Big Three have spent $42.8 billion to retool assembly lines and boost productivity through improvements ranging from computerized design equipment to the installation of 3,175 robots. Such steps, combined with lower wage bills, have enabled the firms to increase quality while making money on less than spectacular sales. Detroit can now break even by selling some 8.2 million cars and trucks a year, for example, compared with more than 11 million three years...
During the first phase of the plan, AMC will retool China's standard jeep, the BJ-212. Called a "Jipu" in Chinese slang, the BJ-212 is a 30-year-old vehicle of partly Soviet design. AMC will install a fuel-efficient, four-cylinder engine and other improvements. The first spruced-up Jipus will roll off Peking's assembly lines in 1984. Starting in 1987, the vehicle will be replaced by a version of AMC's popular CJ7 Jeep...
Aside from these specific proposals, Reich's outline for a national industrial policy is vague. He calls for the establishment of Government-financed "regional development banks" that would offer low-interest loans to companies promising to retool their factories...