Word: dmc
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...life. And "The Bells," especially, is a terrific way to round off your Poeportion. Find yourself getting sleepy? Little weak? Sorta drowsy? Recite "The Bells" aloud into a tape deck, pop your recording into an industrial strength ghetto blaster, and let 'er rrrrrip, full volume, for dozing neighbors. Run-DMC's got nothin' on Poe... though they might make a mean team: "The TIN-too-NAB-yoo-LAY-shun of duh BELLS BELLS BELLS BELLS BELLS BELLS BELLS! HUNH...
...final fate of De Lorean Motor Co., which made its sports cars at a plant in Northern Ireland, remains in doubt. De Lorean allegedly engineered the cocaine deal to save the company from financial collapse. Last week DMC lawyers in Michigan filed for reorganization under Chapter 11 of the bankruptcy laws to protect the company's major U.S. assets-650 cars worth $ 13 million or so-from an onslaught of perhaps 700 creditors. At week's end an Ohio-based company, Consolidated International Inc., reached agreement with British officials to buy some 1,000 unsold cars in Ulster...
...fact was that many people could not afford such a car, whatever its merits or drawbacks. Originally, De Lorean envisioned his creation as a competitor for his old employer's Chevrolet Corvette. But when the DMC-12 reached dealers' showrooms, it listed for $26,000, almost $11,000 more than De Lorean had projected and about $8,000 more than the Corvette. As sales slumbered, the price was discounted to about...
Demand might have been a little stronger, despite the cost, if the car had not been so long getting to market. In the mid-1970s when the DMC-12 began taking shape in De Lorean's mind, there was nothing quite like it on the road. But by 1981 Mazda, Porsche and Datsun had competitive cars on the market, and the DMC-12 found itself in a rigorous grille-to-grille battle. De Lorean's sense that he could not fail compounded the problems. His own market research showed that perhaps 12,000 DMC-12s, at most, could...
There are serious doubts in the auto industry, though, that the DMC-12 will turn into a collector's item, like the Cord or the Edsel. One such skeptic is Semon ("Bunkie") Knudsen, retired president of Ford Motor Co. and mentor of De Lorean when both were at GM. Says he: "Usually you have to have cars built in really small quantities to be collector's items, perhaps 700 or less...