Business Services Industry
Market slide strips Navistar's gears. (Navistar International Corp.)
Crain's Chicago Business, December, 1996 by Andreoli, Tom
Industry cycle, union tension take their toll As Navistar International Corp. careens down the backside of another truck cycle, Chairman and CEO John R. Horne is hanging on - head under the hood - working to retool the company's clanking manufacturing operations. His efforts, unveiled soon after the 58-year-old engineer took charge of Chicago-based Navistar this year, mean yet another round of urgent repairs for the largest U.S.
maker of heavy- and medium-duty trucks. Mr. Horne is ready to invest a half-billion dollars or more to retool. But there are those who believe that Navistar, which barely rattled away from the most recent downturn, is on its last lap as an independent company. At a minimum, stockholders, thick with value investors, aren't happy about the...
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