Word: loreans
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Dates: during 1980-1989
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When the Belfast operation was finally shut down, it left 350 unsecured creditors who were owed $60 million and might end up with nothing. An additional $120 million is owed to other creditors, including the British government. Renault, which made the De Lorean engine, is the biggest single commercial creditor; it is owed $17 million...
Only the dealers have anything to cheer about now. At week's end some were predicting a dramatic rise in the price of the car, and Capitol Cadillac Co., a De Lorean dealership in Lansing, Mich., was negotiating to buy the entire U.S. inventory. The owner of the dealership, Don Massey, estimates that there are some 400 cars to be had, and he said on Friday that he had a deal to buy 100 for an undisclosed price...
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...
...have the adventures of John Z. De Lorean attracted so much notice? Recklessness? Yes, recklessness is always fascinating, especially when the reckless driver is notorious for being cocksure of himself. Desperation? Certainly. A fall from high place? That too. All the more gratifying when such a fall is self-generated and occurs to a hot-shot of American business who thinks he can get away with murder...
American studies who could not make a dissertation of all that deserves to work for a living. As for De Lorean himself, there is an oversized, modern soap-opera quality about him (Who shot J.Z.?), enough at least to make us wonder where the plot hops next. All of which satisfies normal, healthy prurience, but hardly seems reason for De Lorean to have grasped the public imagination so strongly. The case is oddly troublesome, like a low buzzing in another room...