Lethbridge Herald, The (Newspaper) - December 11, 1974, Lethbridge, Alberta
December 11, 1974 THE LETHBRIDGB HERALD 43 Britain's big auto firjn in trouble Cub carrier As any parent knows, children can be quite a handfull! And Jeannie, the mother Bengal tiger at a Sacramento zoo, found her four-month-old and still growing cub, almost more than she could handle as she carried him around in normal feline fashion. LONDON (CP) Britain's giant automotive manufac- turer and largest single ex- porter, British Leyland, is facing the gravest financial crisis in its history But as the government scrambles to scrape together an aid package to save some of the jobs which may be threatened, figures show November was one of its gloomiest months on record with auto exports stagnant and imports soaring. Foreign cars captured a stunning 36 per cent of the British market during the month. Over-all sales of new vehicles plummeted by more than 20 per cent in November compared with the same period last year. Meanwhile, sources in- dicate, the government is con- sidering providing Leyland with up to million perhaps in return for a share in the company, to help it over its immediate cash difficulties. Leyland, which manufac- tures a vast range of automobiles from Minis through Triumphs and MGs to Jaguars, has also just com- pleted a deal with Egypt to construct a plant there for building Land Rovers and this may provide some further relief. Company chairman Lord Stokes acknowledges that times are exceptionally tough but denigrates persistent rumors in business circles that the company may go broke. Stokes argues that at least part of the reason for falling export sales is simply the fact that people abroad do not have the money to buy, although officials say the company's sales of about vehicles annually to Canada seem to be holding steady Stokes merged Leyland with British Motor Corporation (BMC) in 1968 and he won a battle over BMC objections to centralize the organization. But by 1970, Leyland still had a long way to go to match the efficiency of its biggest British rival, Ford. Ford with dealers was selling nearly as many cars as Leyland with Besides, each Ford employee was backed by in capital equipment against only per man at Leyland reflecting the chronic un- willingness or inability of British industry to invest heavily in new equipment As, a result Leyland was heavily dependent on labor, and strikes in 1972 alone slash- .ed its profits by two-thirds. By 1973, a British car boom' pushed profits to a record million for the year and Stokes had managed to achieve a measure of good relations with the unions. However, these developments came too late for the market and Ley land's share prices had already begun their plunge from about to the current level of seven pence (16 Then came the oil crisis of late 1973, falling sales and a subsequent coalmmers' strike here which reduced industry at the start of 1974 to a three- day work week. To keep afloat, Leyland had to turn a cash surplus into a deficit This year there was a 'sudden worsening of union strike action which in the first 10 months alone cost Leyland 1.5 million working days and delayed delivery of some models for up to eight months. Ironically, the strikes and subsequent drop in production have meant few employees have been laid off since they are still needed to meet the backlog of orders. But unemployment in the in- dustry seems bound to increase. They darken when it's sunny and bright then clear automatically indoors and at night. Open till p.m. Monday to Saturday (Thursday till 9 p.m.) OPTICAL PRESCRIPTION CO, 308 7th ST S LETHBRIDGE Phone 327 3609 CANADA GRADE UTILITY YOUNG TURKEYS 10 to 24 IDS.........Ib. TURKEYS MAPLE LEAF BUTTER BASTED YOUNG. 10 to 18 Ibs.................................. Ib. BLADE ROAST CANADA GRADE A1 OR A2 BEEF. BLADE BONE REMOVED Ib. %J %IF I19 189 CROSS RIB ROAST CANAOA6RADEA1 ORA2BEEF Ib. SALMON ROAST COLD MEATS IGA TABLERITE SLICED. 6 oz.. 5 v SIDE BACON IGA TABLERITE SLICED. 6 oz.. 5 varieties b R BURNS SHAMROCK, lib. pkg SAUSAGE STICKS BURNS PARTY. 1 Ib. average. 4 varieties, each COTTAGE ROLLS BURNS FULLY COOKED.'Vs.lb. HAMS ONION SOUP UPTONS. Twin Pack .................................MR ale MIXED NUTS 135 PLANTERS V.P. 13 oz. tin ................................eL PICKLES MCLARENS SWEET MIXED. 32 fl. oz. jar.....................V W PEANUTS PLANTERS COCKTAIL 13 oz. tin aft MUSHROOMS KLEENEX FACIAL TISSUE ASSORTED 2 PLY 200's STEAK HOUSE WHOLE 10 fl.oz. tin BABY FOOD HEINZ STRAINED. 4.5 fl.oz. jar R ale EVAP. MILK 5 si 49 ASPARAGUS TIPS 7QC TOP VALU. 15 fl.oz. tin R A AYLMER FANCY. 12 fl.oz. tin I o R Mixed Nuts Pine Tree No Peanuts. 2 Ib. pkg. Raisins TopVeluAust..2lb.pkg..... Currants TopVaiu.llb.pkg......... 149 J45 CORN FLAKES KELLOG. I6oz. pkg CREAM CORN YORK FANCY. 14 fl.oz. tin W R ASSORTED PEAS YORK CHOICE. 14 fl.oz. (in tr R DOG FOOD 5 DOG HOUSE. 15 fl.oz. tin %F R PRUNE PLUMS AYLMER CHOICE. 14 fl.oz. tin %lf R FLOUR ROBIN HOOD. 20 Ib. bag POLSKIOGORKI MCLARENS. 32 fi.oz. jar.......... Dog Meal C19 Gaines. 25 Ib. bag..............................V CANNED HAMS ?79 SWIFTS. 24 oz. tin .....................................mm 198 WAFFLE SYRUP 139 NABOB. 44 fl. oz. bottle..................................A MINCEMEAT NABOB. 44 oz. jar .bag Ultra Ban Scented or Untcented, 6 fl.oz. tin Saran Wrap 12" roll, 50'long Napkins Kleenex Dinner White. 40 per pkg. Towels Kleenex Boutique Awt.. 2 roll pkg. Prices effective until closing Saturday, December 14, 1974 We reserve the right to limit quantities. NABOB REGULAR COFFEE 2 Ib. pkg.