AUTOS: A Pistol at Wilson's Head

"The government has been presented with a pistol at its head," Prime Minister Harold Wilson reported to the British House of Commons. He had just been told by John Riccardo, chairman of Chrysler Corp., that if Chrysler United Kingdom Ltd. does not get massive aid —perhaps $210 million—from Wilson's government, it would pull out of Britain, adding tens of thousands to British unemployment rolls that already total 1 million.

Riccardo's ultimatum was an act of corporate chutzpah: Wilson's Labor government is responsible for Chrysler's troubles only in the sense that it has...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!