Word: townsend
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...first quarter of 1961, Chrysler last week reported a $1.3 million profit for the first three months of '62. Though the company's first quarter sales of $498 million were up 15% from a year ago, its shiny new profit stemmed primarily from President Lynn Townsend's hard-eyed cost cutting (TIME, Aug. 4) and was all the more encouraging because it was made at a time when Chrysler's share of the U.S. auto market had dropped to a postwar low of 9%. If it could keep costs at the new, Townsendized level and recapture...
...some bright spots at Chrysler Corp. The big Chrysler, now stripped of the fins of yesteryear, is the only non-G.M. car to expand its market share this year (currently: 1.95%). The company has considerable cash reserves (total: $81 million). New Chairman George Love, 61, and President Lynn Townsend; 42, are investing heavily in developing more salable cars and stronger dealerships. They have also slashed away so much of the overhead, deadwood and inefficiency of previous management that Chrysler racked up an $11 million profit in 1961 despite sharply reduced sales...
Yardling captain Dave Abramson set a new University record in the 220-yard freestyle, touching out Bulldog star Bob Townsend in a time of 2:02.9. Townsend led until the last turn, but after 200 yards he apparently thought the race was over (most freshman high school meets are swum over a 200 yard distance) and stopped for a fraction of a second...
When he came out of the turn Abramson had caught him, and Townsend didn't have enough left to hold off the Crimson Captain's final sprint. The winning time also broke the NCAA freshman record of 2:03.8, held by Dave Lyons, a member of this year's Yale squad...
When will the market peak out and start the plunge that signals a coming recession? Many analysts expect a big dip within a year. Most pessimistic is Alan Greenspan of Townsend-Greenspan, who says: "The peak of the bull market will be in the early spring, or at the latest by midyear." Most optimistic is Edson Gould, partner in Arthur Wiesenberger & Co., who believes the Dow-Jones index may reach 953 before a major downturn. "I expect this market to go on for most of 1962," says he. "If the bull market is over much sooner, it will...