Word: schmiicker
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...iron ore proved inferior and too expensive to compete with ore from Sweden, Venezuela and Liberia. Ore stockpiles grew to 2,300,000 tons. Seeking to diversify, Salzgitter blundered into acquiring the ailing Büssing truck works for $12.5 million in the early 1960s. Recently Treasury Minister Kurt Schmiicker called that decision "the most striking error made by a company's management in the past few years." Büssing now contributes more than half of Salzgitter's losses; every fourth truck from Büssing goes without a buyer, and the park of unsold trucks stands...
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