Word: sorensen
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Dates: during 1940-1949
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When white-haired, handsome Charles E. Sorensen was squeezed out of his job as Ford's production chief in 1944, he flopped down on a Florida beach to forget his troubles. Last week he was back on a Florida beach again and he had more troubles. This time he had been squeezed out of his job as president of Willys-Overland Motors, Inc., which he had held for nearly two years. He was still production boss, but no longer president...
...Sorensen had wrangled with Ward Murphey Canaday, board chairman of Willys and owner of 52% of its stock, over policy and production. On top of this; their personalities had clashed. That was natural. Canaday is primarily a salesman. He started his business life selling stoves, joined Willys in 1916 as advertising director. With old Automan John North Willys, he helped start the first company to sell cars on the installment plan. On the side he found time to run his own ad agency (U.S. Advertising Corp.). When Willys was reorganized in 1936, Canaday came...
Since early June when Charlie Sorensen quit Ford and moved in as president of Willys-Overland (TIME, June 19), auto shares have sped ahead in Wall Street trading. In a one million-share day, 50% of the volume was accounted for by these favorites. In recent weeks main gains were scored by: Willys-Overland, which jumped from 8⅛ to 20⅛; Graham-Paige, which went from 3 to 7; and Hupp Motors, which moved up from...
Because of his option, Frazer has an incentive to build greater future value into Graham-Paige. But he also has a more personal urge to succeed. Only last September, Frazer left Willys-Overland after falling out with Ward Canaday, Willys' board chairman. Into the vacated post went Charles Sorensen from Ford, at $52,000 a year (TIME, June...
...sight. The brisk buying of "peace" stocks, notably those of I.T. & T., Packard, and all the war-busy auto companies, turned into a scramble. Most riproaring of all was Willys-Overland, which got a new boss fortnight ago, ex-Fordman Charles E. Sorensen (TIME, June 19). Day after day Willys charged ahead, helped along by a rumor: a new postwar combine of small auto and parts companies...