Word: lum
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...race for the No. 1 spot, Chevrolet turned out 1.8 million cars, edged out Ford by 65,000. But the comeback story of the year in the auto industry was Chrysler. After slumping to 12.9% of the market in 1954, President Lester Lum ("Tex") Colbert poured $250 million into racy new styling, fired up his dealers to get out and sell the mass market. Result: Chrysler wound up 1955 with 17% of the auto market for its four-car line. In the comeback earnings topped $70 million for the first nine months, 19 times better than...
Dawn Patrol. Curtice's genial competitor, Chrysler President Lester Lum ("Tex") Colbert, thinks he works about as hard as any man should, trying to get Chrysler back to 20% of the automobile market. "But most every Monday morning when I'm shaving out home in Bloomfield Hills," says Colbert, "I hear old Red Curtice's airplane flying in from Flint. And every Friday night when I'm home and tired and walking my dog, I hear Red Curtice flying home again." When he is in Michigan, Curtice spends most of his week nights...
Last week two more industrial giants announced their future plans. Chrysler President Lester Lum ("Tex") Colbert said his company will spend more than $1 billion over the next five years for new plants and automated equipment. To express "our confidence in the economic outlook," Standard Oil (N.J.), the world's biggest oil company, announced that in 1956 it will spend a record $1.1 billion on expansion: 50% on searching for new oil, 25% on refineries, and the rest for new transportation and marketing facilities to get its products to consumers. Little Man Beware. In Wall Street there are still...
Wheeling out the 1956 Plymouth, Dodge, DeSoto, Chrysler and Imperial passenger cars at a party for the press this week, Chrysler President Lester Lum ("Tex") Colbert sounded a challenge to the other automakers. Said Colbert: Chrysler Corp., which captured 18.1% of the automobile market in the first seven months of 1955, is "out to get 20% of the automobile business, and more...
Chester H. Lauck, 53, the "Lum" of the radio and movie team of Lum 'n' Abner, was named an executive assistant in Houston's Continental Oil Co. Lauck, longtime cattle raiser (on his 143,000-acre Nevada ranch) and veteran of a score of radio years, was a businessman (manager of the Citizen's Finance Corp. of Mena, Ark.) before he turned to radio. Continental President L. F. McCollum said that while Lauck will have administrative duties with the company, he will also "be available as an after-dinner speaker and for other community gatherings...