AMC IMPOSES HIRING FREEZE DUE TO TAKEOVER BID

  American Motors Corp &lt;AMO> management
  has ordered a hiring freeze in view of Chrysler Corp's &lt;C> 1.5
  billion dlr takeover bid, a spokesman for AMC said.
      Analysts said the merger is virtually certain to go ahead.
      American Motors directors met for five hours Wednesday to
  review the takeover proposal. "The board ... Expects to be
  meeting periodically over the next several weeks on the
  Chrysler proposal," AMC said in its first formal statement since
  it acknowledged the Chrysler proposal on Monday.
      Chrysler, the number three U.S. Automaker, has said the
  merger is motivated principally by its desire to acquire AMC's
  profitable Jeep business and dealers, as well as a new modern
  car assembly plant in Bramalea, Ontario.
      That means a guaranteed future for much of AMC, but it
  leaves in question the fate of many of its 19,000-plus
  employees, according to industry analysts. AMC's Toledo, Ohio
  Jeep plant has 1,850 hourly workers on indefinite layoff while
  its Kenosha, Wisconsin, car plant has another 2,250 on layoff.
  

