Word: gulfstreams
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...which could be great news for shareholders. What Chrysler and its employees stand to gain is another question. Since 1990 the company has made a tremendous turnaround, streamlining its design and manufacturing process to become the most profitable U.S. automaker. It also shed nonessential businesses like Gulfstream corporate aircraft, acquired in the 1980s under Iacocca. For 1994, Chrysler reported a record profit of $3.7 billion on revenues of $52 billion. Dodge Ram pickup trucks, Cirrus sedans and the Jeep Grand Cherokee were established hits, and promising new products like the Neon had come on market. Toyota engineers even went...
...roll his eyes whenever the elderly Grace rambled on at board meetings. As a sign of his power, he began cutting off the older man's privileges. For one, he reduced Grace's personal corporate staff from about 10 to four. After taking away Grace's Gulfstream IV jet, he crowed to a colleague, "Peter is yesterday's mashed potatoes...
...much as his courage to overtake other horses at the right moment and win races." With each appearance in the winner's circle, speculation has also grown over the mutually exclusive ambitions of Arazi's wealthy co-owners. One of them is American Allen Paulson, the chairman of Gulfstream Aerospace Corp. of Savannah, who bought him as a foal in 1989 for $350,000. Paulson, the owner of bloodstock valued at more than $100 million, wants his prize horse to compete in the three Triple Crown races: the Kentucky Derby, the Preakness and the Belmont Stakes. Winning them all would...
...Aerospatiale, the same partnership that built the Concorde. American jet-engine builder Pratt & Whitney is working closely with its nemesis, General Electric, to build a power plant that is quieter, more economical and clean burning. France's Snecma and Britain's Rolls-Royce have launched a similar joint project. Gulfstream, which makes business jets, is working with British and Russian designers to build a 19-passenger supersonic business jet. "Our clients will pay almost anything to go faster," says company CEO Allen Paulson...
...dubbed the Capitalist Tool). Omaha billionaire Warren Buffett is famous for not buying a plane until, in 1986, he finally gave in to expediency and bought an 18-year- old Falcon 20 (which he dubbed the Indefensible). My well-shaved houseguest, meanwhile, awaits delivery of a new $25 million Gulfstream IV. It's just nice to be able to pick up and go when you want...