Word: romney
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Dates: during 1950-1959
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Eager as a beaver, American Motors President George Romney appeared last week before the Senate Antitrust and Monopoly Subcommittee investigating auto prices. The committee, which is concentrating on the Big Three, had not originally invited Romney; he himself had asked to appear. But the committee was soon delighted that...
...trouble with the auto industry, said Romney, is too much concentration of power by Big Business and Big Labor, too little competition. To increase competition, said Romney, both General Motors and Ford should be forced to split up into smaller companies. Going beyond the auto industry, Romney said that any company should be forced to split up if it has more than 35% of its industry's sales or only 25% if engaged in more than one industry. Since both Ford and G.M. are in several industries, they would each be eligible for only 25% of the auto industry...
...company," said Romney, "becomes muscle-bound and resistant to change." As it stands, the big carmakers are so laden with heavy fixed investment, Romney said, that they cannot afford to change from big cars to small even though the public may want them. As expected, he feels it does. American's January production of its small Ramblers was up 163% over the same 1957 period, and Romney expects "a substantial profit in 1958." Every other automaker had a January production slump. Chrysler slashed output 54% below the same period last year, Studebaker-Packard was down 59%, Ford 34%, General...
...Romney loudly agreed, then added a snapper. "Two Ramblers can be operated for the cost of the official car you are driving," he wired Wagner. The mayor rides in a seven-passenger 1955 Cadillac limousine, which is 19 ft. long v. 14.8 ft. of a Rambler American, costs $822 a year to maintain, not counting a chauffeur's annual salary of up to $4,865. Moreover, the city runs about 65 motor mastodons (Cadillacs, Lincolns, Chryslers, Packards) for conveying top brass, as well as 149 medium ones (Buicks, Mercuries, Dodges, Pontiacs, De Sotos) for lesser lights...
Ride a Rambler, Romney urged Wagner, thereby "benefiting taxpayers as well as taking leadership in reducing traffic congestion and parking problems." But the mayor politely declined the offer from Romney to place three Ramblers at Wagner's disposal for test-driving...