Word: townsendized
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Paring to Size. Gloomy as Chrysler's current situation appears, however, its future possibilities look better because of the quick profit-and-loss reflexes of President Lynn Townsend, 42-a cool, no-nonsense executive who took over from the flamboyant Lester L. ("Tex") Colbert. Last year, while he was still administrative vice president, Townsend fired 7,000 white-collar employees and sold off a clutch of Chrysler plants and office buildings in an effort to bring the company's overhead into line with its present share of the auto market...
...Townsend went on to merge the Chrysler-Imperial division with Plymouth, cutting overhead still further. To inspire Chrysler's wobbly dealer network, he offered sales incentive payments of $50 on every Dodge and Plymouth sold by dealers who order their full 1962 quotas. Under Townsend's prodding, Chrysler is building sales and service facilities that it will lease out in areas where potential dealers are unwilling to invest their own money...
Back in the Black. Determined to give his dealers a more appealing car to sell (it was too late to do much about the 19625), Townsend three months ago hired away from Ford able Stylist Elwood Engel, who created the clean, sculptured lines of the 1961 Lincoln Continental. And to restore Chrysler's longtime reputation for pacing the auto industry in engineering innovations. Townsend has handed his engineers a blank check to develop a gas turbine engine (TIME...
Though it has yet to show up in sales, this determined assault on Chrysler's cumbrous structure has already shown up in the company's books. By his overhead surgery, Townsend has cut Chrysler's break-even point from 1,000,000 cars a year to 800,000. Late last month, at a meeting in Detroit, he was able to announce that, despite its whopping $21 million loss in the first nine months of 1961, Chrysler's books for the full year would be in the black by "several million dollars"-thanks to a combination...
Died. Robert Silliman Hillyer, 66, winner of the 1934 Pulitzer Prize for poetry and from 1937 to 1944 occupant of Harvard's prestigious Boylston Chair of Rhetoric and Oratory, a position previously held by such notables as John Quincy Adams and Charles Townsend ("Copey") Copeland; of a heart attack; in Wilmington, Del. A prolific novelist, essayist and critic, Hillyer was most at home in verse where he deftly combined elegance and gentle irony...