Word: lum
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Hardly had Chrysler President Lester Lum ("Tex") Colbert gaveled the annual meeting to order last week than Detroit Lawyer Sol A. Dann, owner of 5,100 Chrysler shares and a self-styled management "gadfly," started a harangue that lasted better than half of the 2½-hour meeting...
...your reviewer: Lang may his lum reek...
Chrysler President Lester Lum Colbert predicted that U.S. compact-car sales in 1960 will total 1,250,000 units, noted that by early 1960 the Valiant will have an annual production capacity of about 300,000 cars. Said Colbert: "We are ready with the right car for a big new market. The impact of this new automotive development may be so great that the volume of sales of economy cars will be determined in large part by the manufacturing capacity of the major companies...
Chrysler rolled up near-record earnings of $4.90 a share in this year's second quarter, hiked half-year earnings to $6.65 a share on a sales gain of 42% over last year. The news seemed so good to President Lester Lum ("Tex") Colbert that he hastened to warn stockholders against expecting too much in the second half because of lower production schedules and the cost of building and introducing 1960 models...
Ever since plans for the new compact cars got around Detroit, competitors of General Motors Corp. have been kicking at the rear engine G.M. will use in its Corvair. Chrysler Corp. President Lester Lum Colbert announced that Chrysler's small-car offering, the Valiant, would have its engine "up front, where it belongs." Ford Motor Co., whose small Falcon will also have a front engine, launched TV commercials demonstrating that an arrow weighted at the back end will fly erratically and miss the target, but that a "properly weighted" (i.e., heavy at the front) arrow will go straight...