Word: errett
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Largest claims: Buhl Aircraft Corp., 271 midget planes for $338,750; Pitcairn Aircraft Co., 38 autogiros for $322,000. But other exhibitors, despite an epidemic of price cutting, were frankly disappointed by lack of business. As he did at last year's show in St. Louis, Errett Lobban Cord began the price-slashing by reducing his Stinson Junior by $1,000 to $4,995, to get under the five-passenger Bird. Curtiss-Wright followed by cutting its four-place sedan from $6,370 to $4,595. Both builders admitted they could not make money at the price...
Last week, however, one of the marching motormakers suddenly became conspicuous. He was 36-year-old President Errett Lobban Cord of Auburn Automobile Co. and Cord Corp. Abruptly he burst from the slow-moving ranks, raced down the road with unprecedented speed, shouted great tidings of Auburn prosperity...
...Engaged. Errett Lobban Cord, 36, president of Auburn Automobile Co. and Duesenberg, Inc.; and one Virginia Kirk Tharpe; in Los Angeles, Calif...
When his market goes flabby, a manufacturer may 1) reduce price, 2) create new outlets for his product. Last spring, Errett Lobban ("E. L.") Cord started the general slash of airplane prices by marking down his Stinson planes and Lycoming motors (TIME, March 3). Last week he announced formation of Century Air Lines, Inc. to fly trimotored Lycoming-Stinson transports over a network of plane-per-hour schedules radiating from Chicago...
Reducing prices, and thereby attracting dollar-pinched customers. Errett Lobban ("E. L.") Cord inaugurated an intelligent way of doing that. His Cord Corp. controls Lycoming Manufacturing Co. and Stinson Aircraft Corp., which uses Lycoming motors. Heretofore Stinson has paid Lycoming its regular price for motors. Mr. Cord ordered Lycoming to sell Stinson motors at absolute factory cost, a thing Lycoming can well afford because its aviation motor business is a small part of its whole. Stinson thus can charge so much less for its finished planes. This it did during last week. For competitive reasons others, notably Command-Aire...