Word: volvo
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...exchange for cars, oil for the pumps of Sweden " We are leaving the defensive role Wand going on the offensive," declared Pehr Gyllenhammar, president of Volvo, Sweden's troubled giant (1977 sales: $3.6 billion). On that confident note, he announced last week a bold and imaginative reorganization that in one stroke will supply the automaker with urgently needed cash, give Sweden access to North Sea oilfields and bring in Norway as an energetic junior partner in a new binational corporation. The Norwegians, eager to use their oil riches to develop high-technology industries, called Gyllenhammar's proposal...
...time that a foreign maker has produced cars on U.S. soil. Britain's Rolls-Royce did it in Springfield, Mass., from 1921 to 1931. But Volkswagen's huge investment-a projected $250 million-makes it unique right now. No other overseas automaker has a U.S. factory operating; Volvo last year indefinitely postponed plans to build cars...
...Boss Nicolae Ceau?escu races around Bucharest in a sleek Mercedes sports coupé. The perks for the Polish elite include special schools for their children and access to luxurious vacation camps and ski resorts. Traffic literally stops for East Germany's new class; at the approach of the imported Volvo limousines carrying the party's top brass, police halt all other movement on the streets...
...Norwegian families own their homes and close to half also have vacation retreats-a cottage on the coast or a cabin in the mountains. The humble Volkswagen has been dethroned as king of the road, replaced as Norway's best-selling car by the more luxurious Volvo...
...campaign, she admits, was "amateurish, naive and trial by error." Starting far back, she bustled around the state in a Volvo station wagon, stressing the need for economic development and nuclear power, and backing the construction of a Trident submarine base?opposed by the environmentalists?on Puget Sound. She had plenty of energy, an air of bluff honesty that appealed to independents, and a new face. Startling the experts, she defeated Seattle's popular but overconfident Mayor Wes Uhlman, 42, in the primary and then beat Republican John Spellman, 50, the top official in Seattle's King County...