Word: forded
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Dates: during 1980-1989
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...climax to the daring venture that put John Z. De Lorean's name on wheels. De Lorean attempted what no one had managed to pull off since Henry J. Kaiser did it in the 1940s: to start an auto company and compete successfully in a market dominated by Ford, Chrysler and GM. In the end, De Lorean's eight-year effort left U.S. investors, dealers and suppliers-and particularly the British government-poorer and wiser. In the beginning, De Lorean made them all believers. The British government, which was looking for ways to provide jobs for desperately unemployed...
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...
...Reagan Administration's tough line is not completely new. Between 1974 and 1976 Gerald Ford suspended a total of 43.1 million in payments to the Paris-based United Nations Educational, Scientific and Cultural Organization (UNESCO) That body had voted in favor of a resolution that cut off UNESCO funding to Israel for altering the historical features" of Jerusalem. In 1977 the Carter Administration withdrew from the U.N.-sponsored International Labor Organization (ILO) in response to that organization's attacks on U.S. policy in the Middle East. Two years later, explaining that the ILO had decided to return...
Though concerned about loan losses, most bankers bristle at the suggestion that the stability of the financial system may be in danger. Says Walter Wriston, chairman of Citicorp: "Every major bank in America last year made more money than General Motors, Ford and Chrysler combined. They lost more than $1 billion. But if one bank out of 15,000 loses money for one quarter, it looks like the end of the world to people." Most Washington officials share the bankers' confidence. Says a member of the Federal Reserve Board: "Even the relatively few banks that have been hardest...
What interests us is related not so much to De Lorean the individual as to his objective in life and the way he destroyed it. John De Lorean not only wanted to make a car, he wanted to be one, like Ford and Chrysler before...