An Industrial Invalid Revives

Retooled Jaguar leads Britain's automaker back to health

For years it has been one of Britain's largest welfare cases. The state-owned automaker BL PLC* (once known as British Leyland) lost more than $3 billion between 1978 and 1982 and has slurped up $4.6 billion of government handouts since 1975. Things are now looking brighter, since BL has just finished its best year in a decade. Industry experts estimate that the company will have cut its losses from a peak of $803 million in 1980 to $77 million for the first half of 1983.

The man who helped chart BL's new direction is its...

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