Word: loreans
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...Lorean's arrest caused a furor in Parliament. Margaret Thatcher's Conservatives attacked the Laborites for approving the deal in the first place. The Laborites retorted that De Lorean put people to work and built a sprawling factory where there was only an empty field before. The Conservatives vowed to investigate. There seems to be plenty to dig into. Reports began surfacing, all unconfirmed, that De Lorean had diverted some of the British money into a Swiss bank account or into his own separate businesses. There were even rumors, disbelieved in Belfast, that some of the money...
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...