Word: volkswagen
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...export markets. In addition, unemployment, fed by ten million refugees from Communism, made a man think twice before risking his job. The result was bad for all Germans: many German workers cannot afford to buy the goods they produce for export. Only 2% of the 20,000 workers assembling Volkswagen drive to work in cars-unlike Ford and General Motors employees in Detroit, most of whom have cars of their own. The German worker's average monthly wage of 325 marks ($77.50) is far from enough when eggs cost 70? a dozen, good beef...
...Durango; newspapers reported that Alfred Krupp was on his way to the country to confer about new industrial plants. In Peru, Erhard helped inaugurate a new steel tubing mill equipped with German machinery. In Brazil, where a German steel tube plant is going up in Minas Gerais and a Volkswagen assembly plant is to be started in June, a $142 million trade treaty with Bonn provides that $50 million of German goods will be used this year in Brazilian undertakings...
West Germany last week began dispersing some of the rewards of its astonishing economic comeback. With a bulging treasury and credits piling up in every continent, pfennig-pinching Finance Minister Fritz Shäffer announced sweeping tax reductions that will enable Germans themselves to buy more of the Volkswagen, cameras and other good things that their factories are exporting to every nook & cranny of the Western world. A staunch free-enterpriser, Shäffer believes that a capitalist economy should be kind to capitalists. His tax cuts especially gave relief to 1) heavy industry (corporation taxes were reduced from...
...average industrial wage of 38.8? an hour is above that of France (35.3?), but well below Britain (47?) and far below the U.S. ($1.78). The result is that German workers cannot afford to buy many of the goods they now produce for the rest of the world. Of Volkswagen's 20,000 employees, for example, only 412 drive the cars they make. Germany's per capita meat consumption last year was 88 Ibs. v. 133.8 in France and some 90 in Britain (while rationing was still in effect). And while about 2,000,000 family housing units have...
...rear engine the butt of many a joke. Sample: First American, looking under the hood of his stalled Volkswagen: "No wonder it won't run. I must have lost my engine." Second American, approaching from his own Volkswagen: "Don't worry; you're lucky. I just looked in the trunk compartment, and they've given me a spare...