Word: riccardo
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Beamed Chrysler Chairman John Riccardo "We are extremely encouraged. This fits the bill...
That is the earliest time Chrysler can expect to make money from the new generation of front-wheel-drive compact cars now being developed by President Lee lacocca, who will replace Riccardo as chief executive by this year...
...ease the Chrysler crisis. The long troubled company lost $204.6 million last year but topped that in this year's second quarter alone, when it ran $207.1 million in the red. Faced with the possibility of a shattering loss of more than $500 million for 1979, Chairman Riccardo held out the hand for $1 billion in federal...
Congressional sources say that Chrysler Corp. representatives have warned them that unless financial aid comes forth by the end of the year, the stricken automaker may have to close its doors. Two months ago, Chairman John Riccardo was telling legislators that the company would need some federal assistance by early next year, but last week's long awaited announcement of the company's $207 million second-quarter loss has compressed that timetable. A shutdown of the nation's tenth largest manufacturer (1978 sales: $13.6 billion) and sizable defense contractor ($625 million in 1978) would have far-reaching...
Cannily laying the blame for Chrysler's bloodletting on federal safety, mileage and emission regulations, Chairman Riccardo is asking Congress for $1 billion in tax refunds, exactly the amount that meeting Government standards will cost the company between now and the fall of 1980. By then lacocca will produce those front-wheel drive Mustangs-in-Chrysler-clothing that are supposed to restore the company's competitive edge...