Word: lum
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...real surprise, however, was in Chrysler's comeback. Last week President Lester Lum Colbert announced that net earnings in the first quarter were $34,504,730, or $3.96 a share, almost twice the earnings for all of 1954. Not only has Chrysler's percentage of the auto market jumped from 14% since the same period last year, to 18% but actual sales of 454,948 cars in the first quarter were the greatest in history. Said Colbert: "We are applying every bit of our energy and ability to accomplish even better results...
...reported that in one ten-day period of February its dealers sold 8,806 Mercurys, well above any similar period in the division's history. Chrysler sales were running upwards of 70% over last year. To keep up with the increasing demand, Chrysler will expand further. President Lester Lum (Tex) Colbert announced that Chrysler will build an 800,000-sq. ft. automatic-transmission plant in Kokomo, Ind., have it in operation for 1956 models...
...month, and a rate of 8,000,000 a year. (The only better months in history were June, August and October of 1950.) The most spectacular performance was turned in by Chrysler. Fighting to regain its lost markets, it came within a half of 1% of President Lester Lum ("Tex") Colbert's goal by boosting its production from 13% of the industry's total to 19.5%. Plymouth bumped G.M.'s Buick from third place in the output race, with 64,000 cars produced; Chrysler (including the new Imperial) passed Cadillac, with 17,470 cars...
...busy as the factories were, auto salesmen were even busier. Helped by the discounting dealers (TIME, Jan. 24), sales were climbing. Said Chrysler President Lester Lum ("Tex") Colbert: "We are selling cars faster than we can make them...
CHRYSLER CORP., whose car sales have dropped (from 20% of all auto sales in 1953 to 14% now), is going all out this fall to recover its position. Chrysler and Plymouth are coming out Nov. 17 with 55 completely new models. President L. (for Lester) L. (for Lum) Colbert even gave a surprise pep talk to the United Automobile Workers' 175-man Chrysler Council to enlist the union's help...