Word: corde
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Dates: during 1930-1939
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...Errett Cord has been married twice, has three children. Two sons, 16 and 14, are by his first wife who died in 1930. Nine weeks ago his second wife bore a daughter. The Cords spend much time in California where, at Beverly Hills, they are building a spacious new house, and when in Chicago they live in a penthouse. At one time they had twelve automobiles. Now Errett Cord has cut down to a Duesenburg (two years old), a Cord and two Auburns. He hates society, does not go on weekend parties often because it is too hard...
...Auburn was ready to expand. Mr. Cord, looking for more speed, had had his eye on Frederick Samuel Duesenburg, who was then building mostly racing cars at his Indianapolis plant. Speed king and a fine designer, Duesenburg was no businessman; his company was nearly bankrupt. Cord got control of it by an exchange of Auburn stock. Another thing he wanted was Lycoming Manufacturing Co. which supplied power plants to Auburn. Long builders of automotive, marine, industrial engines, Lycoming was being marked for its new airplane engine. Cord got Lycoming in 1927 the same way he got Duesenburg. For two years...
...Errett Cord's personal experience in aviation (he had a pilot's license) convinced him that here was a new factor for speed not to be ignored. He became convinced that one day cabin and transport planes would be as indispensable to the average man as automobiles. He set out to be a Mercury to the middle classes, to provide motion above the ground as well as on it for lower prices. In 1929 he acquired Stinson Aircraft Corp., again by an exchange of stock. This time, though, it was not Auburn stock he offered but the common of Cord...
Just selling planes was not enough for Errett Cord. He organized Century Air Lines, Inc. and Century Pacific Air Lines Ltd.. equipped them with Stinsons, operated between St. Louis, Chicago and Cleveland and in the West at rates directly in competition with the railroads and well under competing airlines...
...Errett Cord is 37. slim, medium height with brown hair and eyes. Except when he puts on his steel spectacles and looks like a young college professor he is undistinguished. He is a voluble talker with small regard for grammar and no qualm about profanity. He pays small attention to the detail of his business but thinks and talks plans and policies incessantly. He and his whole company believe in using the telephone long & often. The company's bill sometimes runs between $15,000 and $20.000 a month. Mr. Cord's right-hand man is tall, blond Lucius B. Manning...