Word: dann
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Hardly had Chrysler President Lester Lum ("Tex") Colbert gaveled the annual meeting to order last week than Detroit Lawyer Sol A. Dann, owner of 5,100 Chrysler shares and a self-styled management "gadfly," started a harangue that lasted better than half of the 2½-hour meeting...
...hear Dann-who has turned in similar performances at Studebaker-Packard and American Motors-tell it, Chrysler's directors were guilty of "nepotism, favoritism, payola, reckless disregard for the rights of shareholders, bribery, misconduct, perpetuation of themselves in office, creating a Pearl Harbor that would lead Chrysler to the same fate as Packard...
Colbert, at one point: "Are you finished, Mr. Dann...
...Dann, refusing to yield the floor: "No, but I wish some of the directors were [loud laughter]. Oh, I wish I had an isolation booth for you. I'd ask some $64,000 questions, and you wouldn't get the answers beforehand, either...
...Wolfson actually intends to try unloading the automotive division, he can probably count on help from Sol A. Dann, a Detroit attorney who leads a dissident stockholders' group, has been in touch with Wolfson and says their programs for the company are similar. But Romney believes fervently in the future of the small car, thinks his Rambler and its British-manufactured Metropolitan (sales of both are up so far this year) will be the salvation of the ailing company. Said Romney: "I would be opposed to discontinuance of our automotive activities...