For American Motors Corp., November has often been the crudest month. That is when the company issues its generally depressing annual earnings report. Last week the usual autumnal gloom was replaced by a bright, if fragile, sense of victory. The company reported earnings of $10.2 million on sales of $1.2 billion for the fiscal year ending in September, compared with a loss of $56 million on a volume of $1.1 billion last year. American's profit potential was also sweetened when the Price Commission approved a 2.5% price increase for its newest models.
Part of the reason for American's turn-around is...
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