Word: romneys
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
Says American Motors President George Romney, who believes that his compact, "commonsense" Ramblers will find a niche for themselves among Detroit's ever-longer, ever-lower luxury models: "The automobile is no longer the means of satisfying the ego of the American. The consumer is turning to swimming pools and boats and trips to Europe and a lot of other things besides automobiles...
AMERICAN MOTORS "cannot lose money in 1958 and stay in the automobile business," warned usually confident President George Romney. Riding in red since its birth by merger three years ago, company this year will also "show substantial losses." Romney is setting 1958 sales goal of 150,000 cars-about 50% more than American will sell...
Like two consulting doctors, Speculator Louis Wolfson sat down last week with American Motors Corp.'s President George Romney to see what could be done about the ailing auto company. After the conference Wolfson, biggest single A.M.C. stockholder (350,000 shares), announced that he had turned down a directorship because he is too busy with his other affairs. But he will keep on buying more stock, "based on Mr. Romney's confidence that A.M.C. will be operating profitably in early 1958." Wolfson committed himself to vote for Romney at the annual meeting next February, even sent Romney home...
...Romney, in turn, scotched reports that Wolfson wants A.M.C. to drop its big-car lines, sell off its Rambler line to Chrysler. Instead, he emphasized, A.M.C. will go ahead with tooling and bring out a complete line of new designs for 1958. In addition, A.M.C. will "pursue a dynamic program of acquisition and further diversification," with the help of Wolfson, an expert in acquisitions...
...Wolfson actually intends to try unloading the automotive division, he can probably count on help from Sol A. Dann, a Detroit attorney who leads a dissident stockholders' group, has been in touch with Wolfson and says their programs for the company are similar. But Romney believes fervently in the future of the small car, thinks his Rambler and its British-manufactured Metropolitan (sales of both are up so far this year) will be the salvation of the ailing company. Said Romney: "I would be opposed to discontinuance of our automotive activities...