Word: gerstenberger
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Industry estimates are that by 1975 pollution and safety requirements will add at least $750 to the price of an average car. General Motors Chairman Richard Gerstenberg, for one, wonders "whether the car-buying public is willing to pay a lot of money for a little extra protection." That is a worry for the future, however. Right now, automakers are discovering, somewhat to their own surprise, that they can make luxuriously high profits even in a blue denim market...
Richard C. Gerstenberg, LL.D., board chairman and chief executive of General Motors Corp. Proof in his own time that opportunities in the American economic system are unlimited for the person with ability, integrity and a willingness to use his talents to the utmost. George F. Kennan, LL.D., diplomat...
...When the Environmental Protection Agency announced tough new anti-pollution rules for autos last year, Detroit was aghast. "Arbitrary," said General Motors Chairman Richard Gerstenberg. Henry Ford II declared that his company could not meet the standards-a 90% reduction in hydrocarbon and carbon-monoxide emissions by 1975-and that the timetable would require "suspension of most U.S. automotive operations...
Work Ethic. Like many G.M. executives, Gerstenberg was a small-town boy who became a self-made man. He was raised in upstate New York and studied business at the University of Michigan ('31), working part time as a dishwasher to pay expenses. His father once told him to "get a big job with a big company and take things easy." Aided by a friend named H. Whitney Clapsaddle who was employed by G.M., Gerstenberg found a job in 1932 as a timekeeper at the company's Frigidaire division in Dayton. Ever since, he has followed the first...
...Gerstenberg, who must retire within three years under the same rule that cleared the way for his election, will aim mainly during that period to improve G.M.'s net profits. During the first three quarters of 1971, they rose to $1.4 billion; or a margin of 6.7% on sales of $21 billion. That was well above the strike distorted margin of 3.2% last year, but still far below G.M.'s 10.3% in 1965. Gerstenberg holds most of the company's critics in no great esteem and once reprimanded a former G.M. executive who had made some slightly...