Word: errett
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Dates: during 1930-1939
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...content with the Auburn and the high-priced Duesenberg which he had been making in small quantities since 1928, Errett Cord launched another car in late 1929, longer, lower, racier than his first. Expensive and finely engineered, with the driving power in the front wheels, it was named after himself. The Cord, jokes the automobile industry, is just an Auburn running backward. But Errett Cord, the industry admits, is still a Cord running forward. At the Show last week was to be seen a new Auburn V-Twelve with at least one exclusive device novel to the industry? a dual...
...kept it out so strictly that his financial reputation now matches the rest of his legend. Because Auburn's common stock is one of the highest-priced and most sensitive on the New York Exchange, moving up or down anywhere from two to 15 points in a session, Errett Cord's name is as well known on Wall Street as in the Midwest. The stock's astonishing gyrations have given rise to many tales of pools and corners, most of them untrue. Mr. Cord declares he often goes three days without even looking at the market. At the peak...
...After Errett Cord got it started, Auburn's production of cars...
...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...