Word: chrysler
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Dates: during 1920-1929
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Walter Percy Chrysler is from Kansas.* He was a shop helper; he became a mechanic, a superintendent, a general manager. When William Crapo Durant was first ousted from General Motors control (1911; again 1920) and Charles W. Nash (now chairman of Nash Motors) became General Motors president, Engineer Chrysler became Buick's general manager. He developed the steel body for Buicks; increased the output, cut production costs...
When Mr. Durant went back to General Motors (1916) he insisted that Mr. Chrysler be vice-president. There was a quarrel over policy; Mr. Chrysler resigned. John North Willys figuratively clutched at him to work down Willys-Overland's $46,000,000 bank debt. Within less than a year the debt was down...
...Maxwell Motors, which owned the old Chalmers Motors (Hugh Chalmers, founder of Chalmers Motors, is now a Chrysler director) was practically bankrupt. And that was Walter Percy's great opportunity to make the name of Chrysler known wherever wheels...
...late James Cox Brady of Manhattan was Maxwell's chief financier. He wanted Mr. Chrysler's production genius. Mr. Chrysler wanted to head a great motor company of his own name. He went to impoverished Maxwell ; cut down its debts ; and in 1925, as controller of the new Chrysler Corp., absorbed Maxwell. Mr. Brady became a Chrysler director; and Jules S. Bache, who heads one of the world's largest stock market brokerage houses. And when James Cox Brady died last November, his brother Nicholas Frederic Brady took over his directorate in the Chrysler Corp. and also...
...Chrysler always looks a trifle amazed. He has a home on Long Island -at Great Neck. He owns and uses a yacht and several speed boats. His oriental rugs make one of the best collections in the U. S. When he wants something he gets it without ado. So he has a pipe organ at home. To save himself reading labor, he has a paper made up for his private use. It is an expensive clipping of magazine articles and economic reports...