[DML] Insurance and Stainless Steel illusion

[MichaelPacman@xxxx]

I have given my insurance company an "Assessed Value of Replacement" for the 
DeLorean.
I made a copy of the window sticker with the original selling price. I 
have given them a copy of the DeLorean World Magazine. Additionally I have 
given them receipts of all of the maintenance and repairs on the car. 
In the event of a total loss, this assessed value for the car will assist 
the insurance underwriters and will definitely me.

Im reading a book written by David E. Davis editor in chief of the 
AUTOMOBILE magazine. I have some notable quotes from the book:

In an interview with Christina Ferrare (formerly Mrs., John DeLorean)'
Christina - "Did you hear that John DeLorean was building a new car?"

David - "No. I haven't heard. What do you think?"

Christina - " Same old bullshit!"

Throughout this book the car, company and the man are not regarded as 
something that the public admired. Only a very small percentage of the public 
have admired or even given thought about the car, company and the man.
Davis goes on to say during the interview, DeLoreans car is an old 
conventional automobile underneath a silver new styling body. There was 
nothing advanced except from the viewpoint of body rot. He gives the analogy 
that JZD had a face lift. It changed his looks, however he was still the same 
person underneath. A man that is insecure about himself, and the fact that he 
has been married 3 times all ending in divorce. The car like him was a 
failure.

These are strong words from one of the worlds leading automotive magazine 
editors. Davis worked with JZD at GM and followed his story. It seems that 
most of the automotive magazines report the same about the DMC-12. I have 
read one positive article in the December 1981 Road and Track. 
Because the auto magazines make most of their revenue from 
advertisements from automobile companies/competiters, could it be possible 
that they would give an unfair advantage to the company with the least amount 
of advertisement i.e. DMC? Have you ever counted the ads from the big three 
in an auto magazine?
Remember that even Mike Knepper the spin doctor for DMC when he worked 
there, wrote a story "From the Bunker" in CAR and DRIVER. His story from the 
inside is compelling. His story is very accurate and similar to the Dream 
Maker, the rise and fall of DeLorean.
This "inside information" about the car, company and man, prevented the 
stock from going public. At that time DeLorean needed to take his stock 
public to survive, or go bankrupt. When Wall Street researched the story of 
DMC, they pulled back the offering of the stock. They concluded that, 
1. There was not enough demand to support the overhead of DMC. 

2. They had no equity. The 26 million dollar profit in the last half of 
1981 was made by the US subsidiary. Not the ENTIRE company, just one 
department of the company. The factory in essence was bankrupt by February 
1982.

3. There were was an absence of senior management. And that they did not 
hold Board meetings. Who was running the company?

4. There were Three Chief Financial officers who resigned. 

5. Evidence and allegations of Fraud, stemming from the Swiss bank 
account of GPD.

The DeLorean car and company was a "Stainless Steel illusion". 
Illusion - something made to appear a certain was, but in 
reality it isn't.