Word: dmc
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...other holdings, which the FBI estimates at $28 million, excluding his interest in the De Lorean Motor Co. (DMC), form a motley portfolio. Since 1973 he has owned 1½% of the New York Yankees. For a decade he had owned a piece of the San Diego Chargers football franchise, but in 1976 he sold out and, he says, "took a big loss." His putative reason: drug use by Charger players. Said De Lorean: "Our youth look on them as heroes, and I didn't want anything to do with these guys in relation to their drug problem...
...when De Lorean left the company, feels "very sorry for his family, in particular. I'm just glad that I wasn't faced with this kind of temptation." William Collins has known De Lorean since 1958, when they worked together at Pontiac, and until 1979 was vice president of DMC. "I think his fantastic ego just drove him to do almost anything," Collins says. Journalist Wright blames De Lorean's blinding ambition: "He wanted that company to work. He wanted that car to be successful. He wanted to show the people here in Detroit he could...
...Lorean's most telling flaw of all may have been blindness to his flaws. "I haven't failed at anything of importance," he once said. "I am not capable of addressing failure." Yet he may have known that something was wrong. Two years ago, in Ulster, when DMC's prospects were brightest, John De Lorean confessed to a certain gnawing discomfort with himself. "I am not a good example for other people," he said. "I am not a serene person, nor do I have peace of mind. I am not sure...
...turned out fewer than 10,000 cars in a little more than 21 months, the Thatcher government ordered the plant shut down. With that, some of the plant's remaining 35 employees had a last fling, taking the wheel of De Lorean's cars, called the DMC-12 (after De Lorean Motor Co.), for a few turns around the premises. Hundreds of other workers in Northern Ireland stood to lose their jobs with companies that supplied the factory, a tragic circumstance for a place that has an unemployment rate of about 22%. De Lorean's project...
Many other factors were involved in the car's demise, not the least of which was the DMC-12 itself. True enough, it was sleek and racy, with a stainless-steel skin, a corrosion-resistant, glass-reinforced plastic underbody, a 130-h.p. Renault engine and gull-wing swing-up doors borrowed from the 1954 Mercedes sport coupe. But, doors aside, car critics could find nothing distinctive or terribly special about it. One described it as "clunky." Still, the car had its fans...