Word: lobban
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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...
Edward Anderson ("Eddie") Stinson. flyer and plane manufacturer, and Errett Lobban ("E. L.") Cord, motor car manufacturer, celebrated their 35th birthdays nine days apart last July. Both have achieved large business success in their fields. But last week Mr. Stinson acknowledged Mr. Cord to be the greater executive. He did that by recommending that stockholders in his Stinson Aircraft Corp. sell out to the Cord Corp., by stating explicitly: "E. L. Cord has been one of the outstanding figures in the automotive industry during the past five years. ... He now intends to enter the aviation field in his usual forceful...
...built for speed, cannot perform the impossible. But it will claim to be a man-made machine with many exclusive advantages. It will be "first production car of its kind."* So said Auburn Automobile Co., in advance notice of its Cord car, named after its President Errett Lobban Cord, to be priced between the Auburn ($995 to $2,095) and the Dusenberg ($8,500 chassis...