Word: loreans
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Dates: during 1980-1989
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...quit. The resignation made him even more of a white-collar folk legend, the free-spirited rebel who "fired GM," which suited De Lorean fine. "That was some salary to give up," he said in 1980, "but I have never worried about money. I do things for themselves." Richard Gerstenberg, then chairman of GM, arranged for De Lorean to take over as president of the National Alliance of Business, an organization of socially conscious executives. Among other good works, the group encouraged employment of ex-convicts...
...month after De Lorean left GM, he wed Fashion Model Cristina Ferrare, then 22. The two had a daughter: Kathryn, now 8. "Cristina and I have an idyllic relationship," he said recently. Cristina agreed: "Every night, I pray to God and thank Him. Then I lean over and touch John and thank him too." They settled into a two-story apartment on New York's Fifth Avenue and spent weekends on a $3.5 million, 430-acre estate in rural New Jersey, an hour from Manhattan. They also own a lush 48-acre spread in California's San Diego County...
...other holdings, which the FBI estimates at $28 million, excluding his interest in the De Lorean Motor Co. (DMC), form a motley portfolio. Since 1973 he has owned 1½% of the New York Yankees. For a decade he had owned a piece of the San Diego Chargers football franchise, but in 1976 he sold out and, he says, "took a big loss." His putative reason: drug use by Charger players. Said De Lorean: "Our youth look on them as heroes, and I didn't want anything to do with these guys in relation to their drug problem...
...supposed scruples, however, De Lorean was building a reputation for questionable business dealings. A scheme to promote miniature race cars failed, under a cloud, in the mid-1970s. An accomplice in several controversial ventures has been Roy Sigurd Nesseth, a former used-car dealer about De Lorean's age. Los Angeles Socialite Hazel Dean, sixtyish, has claimed in court that Nesseth, acting in concert with De Lorean, defrauded her of several million dollars in the 1970s after she hired Nesseth to manage her affairs. De Lorean and Nesseth in 1976 took over a failing Wichita, Kans., Cadillac dealership. After reneging...
Charles De Lorean, 56, an Ohio Cadillac dealer who invested $100,000 in his older brother's company, believes that John was "set up" for the drug bust. "It's totally against his ethical and moral character," says Charles. But even more, it seems, the younger De Lorean thinks John is too canny to blunder so badly. "He's not dumb enough to put himself into a situation like that...