By Appleby R., Bradley J., Brennan B.

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And they did. S. economy in 1990, our profits dropped to just $68 million. qxd 7/25/03 2:55 PM Page 18 GUTS finally slipped underwater, reporting a $795 million loss (so much for countercyclicality). 3 billion (the largest such deficit in all of American industry), our credit rating was shot (some of our debt was selling at junk-bond levels), and our stock price had plummeted from its 1989 peak of just under $30 a share to just over $10. S. Congress passed a special law to award Chrysler loan guarantees.

Other carmakers had done cab-forward designs before, but no one had gone as far with it as Chrysler was about to. In Frankfurt (in what was then West Germany), in September of ’87, and then again at the Detroit auto show in January of ’88, Chrysler displayed a four-door concept car called the Portofino. Some of Portofino’s disinformational features included a midmounted Lamborghini V-8 engine, clamshell hood and deck-lid openings, and rotational front doors that pivoted up and out of the way like the eyepiece cover on a telescope.

That may seem kind of axiomatic for an auto executive. But the truth is, it’s not. In fact, throughout my automotive career I’ve never ceased to be amazed at the number of highly placed people in the auto industry who aren’t, in fact, “car guys” (or, in some ways even worse, those who pretend to be car people when in fact they really aren’t). True, to a certain degree business is business, and you don’t necessarily have to have high-octane ethyl in your veins to be an effective automotive executive—any more than it’s mandatory that you be a computer geek to run a computer company.

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Business one: one Intermediate: Intermediate Student's Book Pack by Appleby R., Bradley J., Brennan B.


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