Word: bricklins
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...always seemed like a foolhardy venture: Malcolm Bricklin, 36, an unconventional millionaire from Philadelphia who sometimes wore Indian beads, thought he could start an auto-manufacturing business from scratch. To the surprise of many, Bricklin, who had made his original fortune running hardware stores, actually acquired two plants in Canada's New Brunswick province and started making his unconventional Bricklin cars. Now two secured creditors and the New Brunswick government, which had put up more than $20 million in cash and loan guarantees to obtain 67% control of Bricklin Canada Ltd., have placed the company in receivership, closing...
Amid a DeMillean display of press-agentry, the Bricklin car-product of cowboy-booted, Indian-beaded Millionaire Malcolm Bricklin, the first American to start an auto manufacturing business from scratch in 28 years (TIME, May 27)-made its official debut last week at Manhattan's elegant Four Seasons restaurant. Though its stress is on safety, it turned out to be a sporty-looking, high-priced ($6,500) vehicle with several unusual features. Its gull-wing doors need only a 10-in. clearance to open fully, minimizing the risk of side swipes. Polyurethane bumpers are designed to absorb the shock...
...Bricklin insists that he will start assembly next month of the first North American-production car to be engineered with safety as its prime concern...
...college dropout, Bricklin followed his father into the construction business and made his first after-tax million before he was 22. Later he founded Subaru of America Inc. and profitably distributed the tiny Japanese-built autos. He has rounded up $20 million in backing, much of it from Philadelphia Banker John R. Bunting and from businessmen in New Brunswick, Canada, where the new car will be made for export...
...project, says Bricklin, began when he asked some frustrated designers from GM, Ford, Chrysler and American Motors to design a car that would handle well yet meet all federal safety and antipollution standards. The car, which looks something like a Maserati, has such safety features as a sensor device to prevent the car doors from closing if a passenger's hand gets in the way. Bricklin considered some 4,000 suggestions for a name, then insouciantly decided to call the car - what else?- the Bricklin...