Word: townsend
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...report in December that 16 of its high executives last year picked up thousands of options at $21 to $31 a share and sold some of them shortly after the minimum six-month holding period at a total pretax profit of $4,200,000. The biggest gainer: President Lynn Townsend, whose profit before capital gains' tax and brokerage fees...
Most of all, they exercise an independent check on managers, often firing and hiring them. The man most responsible for lifting Lynn Townsend to the presidency of Chrysler is Pittsburgh's George H. Love, who is board chairman of both Chrysler and Consolidation Coal...
Autos, if anyone did not already know it, are having a boom year - and Chrysler, because of the management stream lining of Chairman George Love and President Lynn Townsend (TIME cover, Dec. 28), is reaping the rich rewards of a comeback champion. On a 40% sales increase, to $661 million, Chrysler's third-quarter earnings were up sevenfold to $22.8 million...
Ford's market share rose significantly, to 27.3% v. 25.9%-and the increase came partly out of G.M.'s hide. Chrysler's rapid sales rise of the last two years seems to have leveled temporarily with its market share at 12%. This week Love and Townsend will begin consumer-testing of the industry's first turbine-powered car, which they hope will stimulate overall interest in Chrysler. American Motors climbed from 6% to 6.2%. Studebaker, whose mid-October daily sales rate fell behind last year's, clung to less than 1% of the market...
Both G.M. and Ford have been negotiating with the Spanish government, but failed to reach an agreement because of a new government regulation requiring unrealistically high auto output. Taking another tack, Townsend paid $17 million for a 35% interest in Madrid's thriving Barreiros Diesel S.A., Spain's biggest privately owned truck and enginemaker, which is not bound by the new decree. Aided by Chrysler know-how and money, President Eduardo Barreiros, 43 (TIME, April 12), will build a new plant, intends to produce 15,000 Dodge Darts the first year. Another attractive angle for Chrysler: autos made...