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Detroit Auto Pioneer DeLorean Back
Posted on 09/18/2002 12:41:04 PM PDT by Tumbleweed_Connection
Buy a stainless steel watch for a mere $3,500 and one-time boy wonder auto maker John DeLorean may let you buy one of his close to $1 million newest automotive creations in about 3 years.
DeLorean made his name when he designed the classic Pontiac GTO back in the 60s. He followed this success with his DeLorean stainless steel sports car in the early 80s which was less than a smashing success.
His run of bad luck came in 1982 when he was arrested on a charge of drug trafficking - a rap he beat. Then his DeLorean Motor Company went bankrupt, forcing him into retirement at his New Jersey farm.
That gave him time to battle some 40 lawsuits according to Thomas Mucha, writing in the October issue of Business 20. By 1999, groaning under the weight of about $20 million in debts he was forced to declare personal bankruptcy.
Mucha notes that DeLorean, always ahead of the pack in the car making business, was also way ahead of his colleagues in the executive suites such as Mssrs. Ebbets, Lay and Sam Waksal in the line of disgraced CEOs.
Now, at age 77, no longer a boy, and no longer a wonder, John DeLorean wants to get back in the auto making business. He has started out by selling the pricey watches, each of which bears a number putting the buyer in line to buy the car he's now in the process of designing.
TOPICS: Business/Economy; News/Current Events
Mucha notes that DeLorean, always ahead of the pack in the car making business
Well, if he wants to have another flop he'll probably be designing an electric car.
posted on 09/18/2002 12:46:29 PM PDT
by 1Old Pro
His run of bad luck came in 1982 when he was arrested on a charge of drug trafficking - a rap he beat.
If I recall directly he was setup by the feds on this charge. Never really recovered from it as no one wanted to be near him.
posted on 09/18/2002 12:50:31 PM PDT
To: 1Old Pro
I don't know, I kind of liked that time-traveling one he came out with in 1985.
posted on 09/18/2002 12:50:51 PM PDT
Do the cars come with cocain stashed in the quarter panels as an option or is that standard?
posted on 09/18/2002 12:53:25 PM PDT
Do the cars come with cocaine stashed in the quarter panels as an option or is that standard?
Good question. I believe you get the panels with the "Player" option.
DeLorean was a rotten businessman and investor's money may have gone up his nose, but I always admired his car. I see one around my neighborhood occasionally, and it still looks great. I wish him well on his new adventure.
Ever the scammer. The cars were garbage. He was happily willing to deal cocaine in an effort to raise money. The jury acquitted him because his neighbor entrapped him using his little son as entre into DeLorean's circle. This does not mean that the man was not willing to sell drugs. He is shown on film accepting the drugs.
He never paid the lawyer who got him off. He never paid the banks he owed for his mortgage.
BEWARE OF JOHN DELOREAN
posted on 09/18/2002 1:09:32 PM PDT
Met him several years ago on a flight from Newark to LA.
Talked to him briefly ... he left me with a favorable impression. Seemed to be a down to earth regular guy ... wish him well in his new endeavor.
posted on 09/18/2002 1:11:40 PM PDT
To: 1Old Pro
Well I always admired the GTOs and I have to give him credit for really pushing the power curve in the mid 60s to produce some of the best muscle cars of the late 60s. Never really considered the DeLorean a muscle car
To: 1Old Pro
the car he's now in the process of designing.
Hope he has someone that understands what good weight distribution means. The first DeLorean was awful in the handling department.
So DeLorean is selling over-priced stainless steel watches?
Beats his last financing scheme.
Yep, he was entrapped.
....got any idea what a DeLorean goes for these days?...back in the mid-eighties they were around $17,000.....thanks..
posted on 09/18/2002 1:57:34 PM PDT
"So DeLorean is selling over-priced stainless steel watches?"
Why not? He sold over-priced stainless steel cars. Sort of. My next door neighbor bought one (he got the money for it by winning a million dollars from McDonalds no less) and hated it. Couldn't keep it running and it handled worse than a cheap lawn-tractor.
I didn't need an alarm clock back then cause he would wake me every morning screaming at his over-priced stainless steel garbage can.
posted on 09/18/2002 2:01:22 PM PDT
nice ones still go for 15-17k
posted on 09/18/2002 2:02:37 PM PDT
His cars get in too many accidents trying to sniff the line in the middle of the road.
...thanks RS Rider.....
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