Word: cars
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Dates: during 1960-1960
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Each buyer of an American Motors car will get a $25 bond for every 10% increase. The effects will be cumulative. Thus if December sales increase 10%, and there is another gain in January so that the two months' total rise is 20%, the December buyer who has already received one $25 bond will get another, and the January buyer will get a $50 bond. The most any buyer can get is $125 in bonds for a 50% increase. Romney said he would probably renew the plan after the four-month trial...
Romney's is not the first made-in-Detroit rebate. In 1915 Henry Ford rebated $15.4 million to customers at the rate of $50 a car. The United Auto Workers union has suggested similar plans to automakers. Romney himself put one forth in 1957, but attached so many conditions that it never got started. This time, he says, he is going...
...FOREIGN-CAR SALES dropped 26.5% during first ten months of 1960. Only gainer: Volkswagen, whose sales rose 37% to 130,102 cars...
...truck manufacturer scoffed at the idea of aluminum truck beds, Harvey helped build some to prove the point. Today 85% of all truck beds and semitrailers are aluminum, v. the 85% once made of steel. To show railroad skeptics, Harvey recently had built an all-aluminum 85-ft. railroad car, now has constant requests for its use, hopes orders will follow...
...Secretary (see NATIONAL AFFAIRS). Ford is filling the post only temporarily, touching off a guessing game as to who will be the next president. Among the most likely candidates: John Bugas, 52, vice president of Ford's international group; James O. Wright, 48, chief of Ford's car-and-truck division (McNamara's job before he became president...