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...case focuses on $12.5 million that investors put up for research and development of the DeLorean, a sleek, stainless-steel sports car with distinctive gull-wing doors. The indictment charges that beginning in 1978 DeLorean funneled much of that money into a mysterious Panamanian company called GPD Services, which in turn deposited the funds at the Pierson Bank in Amsterdam. Eventually, $8.9 million went from that bank into DeLorean's personal account at New York's Citibank. Of that amount, the indictment says, DeLorean used $7.5 million to buy Utah-based Logan Manufacturing, which makes equipment for maintaining ski slopes...

Author: /time Magazine | Title: Another Roadblock for a Dreamer | 9/30/1985 | See Source »

Today workboats leave at all hours from the Battery, hauling hard-hatted construction crews and materials for the restoration. The Great Hall is a maze of scaffolding. Fans hum everywhere, drying out plaster. Bare bulbs hang down all over. Occasionally there is the frantic sound of beating wings, a gull or a pigeon come in through a smashed window. Here and there is the faintest scent...

Author: /time Magazine | Title: American Scene: From Ellis Island to Lax | 7/8/1985 | See Source »

...been working on the new project for about six months. He told the Los Angeles Herald Examiner that it was "inevitable that the company come back." Tentative plans call for building a new sports car that would be similar to De Lorean's previous model, a sleek machine with gull-wing doors. The new one would have an improved engine and transmission...

Author: /time Magazine | Title: Autos: De Lorean Ii: the Comeback | 6/17/1985 | See Source »

...auto will carry a $3,990 sticker price that will make it the cheapest new car on the U.S. market. Says Bricklin, 45, a New York City businessman who introduced the first Japanese Subaru to the U.S. in 1968 but crashed during the mid-1970s when he built a gull-winged sports car that bore his name: "The Yugo will be like a 19? hamburger with meat...

Author: /time Magazine | Title: Imports: One More for the Road | 10/15/1984 | See Source »

...been through for the last two years won't be wasted." In 1975, 2½ years after leaving as executive in charge of all North American car and truck manufacturing at General Motors, he set up his own dream-car company. It is now in receivership, though its gull-winged, stainless-steel sports cars are suddenly selling rapidly as collectors' items. He hopes to go back into the automobile business, said De Lorean last week, "the only thing I know...

Author: /time Magazine | Title: The Stingers Get Stung | 8/27/1984 | See Source »

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