Word: daimler
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Dates: during 1950-1959
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...associated with riches and beauty. To the world's auto connoisseurs, the Mercedes offers not only superb craftsmanship and loving attention to detail, but conservative styling that has not basically changed since the 1930s. But even the grand old lady of the auto world (Stuttgart's proud Daimler-Benz, Mercedes' maker, claims to be the world's oldest auto producer) occasionally indulges in a bit of sprucing up. Last week Daimler-Benz showed off its new Mercedes models...
Stock Sensation. While many eyes are set on the European small car and its new U.S. competitors, Daimler-Benz is out to grab a heftier share of the big-car market. The U.S. already buys 10% of its production, and its U.S. sales are racing 160% ahead of last year, are expected to top 15,000 cars by year's end. With 54% of its production going to 136 countries, Daimler-Benz has hiked worldwide sales 16% this year, expects to run up a 1959 sales figure of $600 million for the best year in its history...
...worker in doing a quality job has gone down. "Mercedes-Benz products are the highest crafted autos in the world," he says of the West German cars that S.P. distributes in the U.S. "We couldn't build the kind of product Mercedes-Benz builds." Mercedes' maker, Daimler-Benz, also has a high regard for Churchill. It has invested about $5,000,000 in S.P. preferred shares that can be converted after 1960 into some 5% of S.-P.'s common. S.P. stock has already risen so high (from...
...UNICE, a Common Marketwide counterpart of the U.S.'s National Association of Manufacturers. And throughout the Six, industrial amalgamations and alliances are being negotiated at a dizzying rate. Italy's Alfa Romeo has signed car-marketing agreements with France's Renault and Germany's N.S.U. Daimler-Benz (Mercedes) is negotiating with Peugeot, and France's Conord (household appliances) has already established a subsidiary in Cologne. Even commercial banks are getting into the act: France's Credit Lyonnais and Germany's Dresdner Bank have exchanged 50 employees as part of a training scheme...
...bold step toward denationalization (TiME. April 13). But markets are so thin that a little buying can send a stock to giddy heights. Four-fifths of West German corporate stock, for example, are locked in institutional portfolios. Companies are reluctant to float more because of heavy taxes. Daimler-Benz has 93% of its stock in the hands of institutions and other companies; in the past month, buyers of small amounts of floating stock propelled the price from $243 to $363 within ten days...