Ford can have Hoosier land
It's good to know who your friends are. Steve Berrard, president and co-CEO of Republic Industries, told shareholders at the company's annual meeting in Fort Lauderdale, Fla., that Republic fully supports Ford Motor Co.'s plan to buy all its dealerships in Indianapolis and consolidate them into five large dealerships. 'They're well on their way to following a model we've created,' he said. Besides, he admitted, Indianapolis is not a big target for future Republic or AutoNation USA plans.
NICE STABLE - If money is no object, here's this year's Robb Report 'Best of the Best' list, Automotive Division: exotic car, Lamborghini Diablo; luxury car, Mercedes S600; sports car, Porsche 911; investor/collector car, 1996 Ferrari F50; everyday car (sic), BMW 540i Sport; sport-utility, Land Rover Range Rover. Buying one of each would cost $1,064,105.
BUOYS DON'T HELP - New-vehicle sales in Japan were up 5.3 percent through April, but the rising tide hasn't lifted all boats. Toyota Motor Corp. President Hiroshi Okuda acknowledged in Tokyo late last week that the General Motors-built Toyota Cavalier has flopped with Japanese buyers. 'No matter how much we spend on advertisements or incentives, Cavalier sales don't go above 500 a month,' he told reporters at a reception. That's well short of the pace Toyota must maintain to meet its agreement to sell 20,000 Cavaliers a year. Sales through April were off 47 percent from a year earlier, to 2,099.
RAISE FOR THE PREZ -UAW President Steve Yokich received a salary increase of $10,651 last year, according to documents released in federal filings last week. The Associated Press reported that Yokich's base salary was $110,702, up 10.6 percent from 1995. His total compensation was up 13.7 percent to $129,910. The top six UAW officers earned a total of $604,491 in base pay in 1996, up 8.7 percent from $555,983 in 1995. Their total compensation rose 4.7 percent, to $738,564. Yokich still earns less than his organized labor counterparts. Ron Carey, head of the International Teamsters, was paid $162,109 last year. AFL-CIO President John Sweeney received $201,665.
HE KNOWS WHEN YOU'VE BEEN ... Was it done to scare spy photographers away, or is it just two Ford Motor Co. engineers who are proud of their boss? This certainly is one of the more unusual spy shots: a 1999 Jaguar X200 prototype with photographs of Ford Chairman Alex Trotman pasted to the windows.