We conclude our account of the life and career of John Zachary DeLorean.
The DeLorean Motor Company was, from January 1982, under the control of the receivers. Their job, in the first instance, is to see if a buyer can be found for the company. If none is forthcoming, they are required to dispose of the company’s assets in an orderly manner and raise as much money as possible to repay creditors in order of seniority, either fully or, more usually, in part (cents on the dollar). There is rarely anything left over for shareholders after this is done.
DeLorean’s biggest asset was its large inventory of unsold cars, which was increasing as production continued into the spring of 1982. Deep discounts offered on 1981 stock and exhortations to dealers to buy inventory failed meaningfully to improve the situation, and production at Dunmurry was halted in May 1982.
DMC filed for bankruptcy in October, although a skeleton staff completed around 100 partially built cars before the year end. Consolidated International, a US company based in Columbus, Ohio, acquired the remaining stock from the liquidators at a deep discount and attempted to Continue reading “Hero or Villain? (Part Three)”
We continue the story of John Z DeLorean and remember the car that carried his name on the fortieth anniversary of its launch.
The 1970’s was a truly miserable decade for the whole of Ireland. A sectarian conflict that had simmered in Northern Ireland since the island was partitioned in 1921 had exploded into violence and bloodshed in 1968. This unrest continued throughout the following decade, with bombings, assassinations and other terrorist atrocities perpetrated by paramilitary groups on both sides of the political and religious divide.
Boredom helped me to discover them. In the early seventies, I needed to find a way to keep myself entertained during our monthly weekend visits to my grandmother who lived in a small village in rural Belgium. As there was not much to do for me there and no children of my age to play with, I resorted to wandering around the house; that is where I at some point discovered stacks of old magazines in an old wardrobe closet. Among them were old TV guides and home decoration magazines but also issues of Readers Digest, LIFE and National Geographic.
Cars – and drawing them in particular – were my main point of interest and the plentiful car advertisements in those old magazines in my grandmother’s house provided an excellent source of inspiration. The ones that made the biggest impression on me were those of Pontiac in the magazines of American origin, and the Opel advertisements in the other more recent publications.
We remember the life and career of one of the most polarising and controversial people ever to have worked in the automotive Industry, John Zachary DeLorean.
John DeLorean was born in Detroit, Michigan on 6th January 1925 to Zachary and Kathryn (née Pribak) DeLorean. Zachary was Romanian, born in the village of Sugág, which was in a region controlled by the Austro-Hungarian Empire, but is now part of modern-day Romania. He worked in a mill before emigrating to the United States at the age of twenty. After spells in Indiana and Montana, he moved to Detroit and joined the Ford Motor Company as a millwright.
It was in Detroit that he met his future wife. Kathryn was Hungarian and worked for Carboloy Products, a division of General Electric. Neither Zachary nor Kathryn had much formal education and took other casual work as they found it to support their family of four sons, of whom John was the eldest.