Word: writedowns
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Dates: during 1932-1932
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...free-wheeling in 1930, the first convertible top (1924), full power mufflers (which increase horse-power), 90% elimination of motor roar by a carburetor silencer, ball-bearing spring shackles, hydrostatic gas gauges. Figure-wise Mr. Erskine last spring saw that the plants were overvalued, ordered a $16,000,000 writedown (TIME, April 4). Like many another western executive Russel Erskine is at his office before 8 a.m. But he often interrupts the day to play 18 holes of golf after lunch, returning then to his desk...