Word: chrysler
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Dates: during 1940-1949
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...market's rise was not as gravity-defying as it looked. It was solidly shored up by 1) the whopping third-quarter profits of many a corporation, and 2) an increasing tendency to pass some of these profits along to stockholders in the form of bigger dividends. Chrysler, for example, which had turned in a third-quarter net of $45.4 million v. $24.1 million in the 1948 period, raised its $1.25 quarterly dividend to $1.50. The stock went up 2⅛ points in the next day's trading, to a new 1949 high...
...quarterly profit of $198.7 million v. $120.3 million in the 1948 quarter was the biggest in corporation history. In expectation of an extra dividend, G.M. stock rose to a new 1949 high of 68. But General Motors' President Charles E. Wilson and Chrysler's President K. T. Keller both warned that the steel strike had hurt even if it should end this week...
...just as palsied. Three weeks of strike in its mills had been enough to hobble the huge U.S. auto industry. Ford Motor Co. prepared to halt production and lay off most of its 115,000 workers by mid-November. Packard worked on halftime. Layoffs would pull most of Chrysler's 86,000 employees off the line within two weeks. General Motors had cut down to a four-day week at some plants...
Nehru's day began early and confusedly. At 10 a.m. his black Chrysler sped up to a Wellesley gate and was firmly deported by a guard with orders to "keep the cars out, because Nehru was coming." Despite this inauspicious beginning, the official party managed to reach Wellesley Chapel, where it met with a warmer reception. Over 1700 girls swarmed out of the classrooms and sat on the lawns and hung from the trees to see the Pandit. Sensing the importance of the occasion, they gave oral vent to their emotions...
...been going on for almost 100 days. Reuther happily accepted. By all indications, so would Ford workers when they voted on the proposal. By winning peace, Ford had won a lead in his increasingly competitive industry. By winning the contract, Reuther had gained a weapon to use against Chrysler...