Word: tippett
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Dates: during 1980-1989
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...million into AMC since 1979, and now controls 46% of the company. Having paid the piper, Renault seems determined to call the tune. Two weeks ago, Gerald C. Meyers stepped down from his post as AMC's chairman and chief executive officer. Former AMC President W. Paul Tippett Jr., 49, will become chairman, and José J. Dedeurwaerder, who formerly ran one of Renault's major plants in France, is the new president. Wags in Detroit are already referring to AMC as Franco-American Motors...
...getting murdered," said W. Paul Tippett Jr., president of American Motors, which reported a third-quarter loss of $16.8 million. Two weeks ago, General Motors, whose sales fell 33% in October, reported that it lost $468 million in the third quarter, nearly twice the decline anticipated by Wall Street...
...negotiating since July, would inject $500 million in cash into AMC. Also, the deal could wind up providing Renault, which already holds 5% of AMC's stock as a result of a 1979 financing plan, with 55% of the company's shares. Said AMC President W. Paul Tippett Jr.: "Renault would not have made this commitment unless they had confidence in the future of American Motors...
Detroit competitors are skeptical. American Motors President W. Paul Tippett Jr. says that if there are many returns, the losses could be "staggering." But, he adds about Chrysler: "I admire that they're trying to do different things. One of the things that we in Detroit are not is unconventional...