[DML] The Stainless Steel Illusion: who's was it really?

["Robert Rooney" <dmcvegas@xxxx>]

When JZD decided to go public with his stock: 

1. There was enough demand for the overhead on the car! 
Both DMC's acountants, and the British Govt. accountants agreed that
DMC would have cars on back order for the first 2 years of production!

2. There was enough equity in DMCL to get the deal approved!
That's why JZD decided to step up production of the car, so that the
company would have more physical assets in the form of automobiles!
This also looked very nice because these were not just holdings. Once
they were sold, DMC, & DMCL would have cash in hand.

3. You are right, there were no board meetings. However, most everyone
kept in touch on a personal basis via phone calls, telexes, mail grams,
etc..., but there were no real meeting, or chances to talk & brainstorm
ideas. Everyone was left to there own, but was over looked by JZD, or
C.R. "Dick" Brown (with the occasional visit by Nesseth). But this did
hurt the company a bit.

4. Yes, you are correct on this, 3 Chief Fiancial Officers did resign.
Mostly for personal reasons. There were a number of key people who were
"shelved", and then turned around and left because the felt that they
were being ignored. But on this note, I do agreee.

5. JZD has been aquitted of all fraud charges that he was ever acused
of by the Brittish Govt., his creditors, his investors, and the U.S.
Govt. The only people who were convicted of fraud (thanks to William T.
Wilson for this next part!), were Lotus employees! And to be honest, I
too find Colin Chapman's "death" to have been just a little too
convienient for the time when it happened!

The reason that "Wall Street" changed it's mind about investing was
because right as this sotck offering was about to have gone thru, the
"Gold Facets" memo "popped" up. With this memo were aligations of
fraud, corruption, etc... William Haddad who was in charge of
publicity, wrote the memo, and had JZD's personal secratary, Marion
Gibson deliver it to Tony Blair. Later on, Haddad admitted in court
that he FORGED the memo, and that the alligations were not true! When
Marion Gibson leared of this, she said she was very sorry for what she
had did, and was angry @ Haddad for lying to her. Wall Street never did
any kind of research on DMC, DMCL, or any subsidiaries. They only real
financial analysis of the company that had any value to it at all was
one that was commisioned by a potential investor from Saudi Arabia. It
had it's insights as for a benifits & downfalls of investing in DMC. In
the end, yes it did say that DMC was a risky investment, and the
investor then declined. But this was before Arthur Anderson. This firm
knew of the report and read it! They knew the risks, and they
proceeded. The real reason that investment firms then turned the new
stock offering down was because putting money into DeLorean's company
was no longer "popular." At this point in time, DMC was in reality an
even better investment than before: There was now a real car comming
off of real production lines, and it's developement was gaining
extordinary speed. 1984 would have seen both the twin turbo model, a
new right hooker european model, annodized/paited cars, new intierior
colors, and the closures of the QAC's: the biggest breakthroughs since
the building of the car itself! So what was the real illusion? Are
there not DeLorean motorcars still on the road almost 20 years later,
and did DMC not turn a profit of over $6 million dollars it's first
year out? Or is the real illusion that we have all been lied to all
these years for reasons that are only now comming to light...

Except for the random, yet rare nitwit, it's very hard to find some one
who DOES NOT like the car, or John DeLorean. Most time I hear, "You
know, it's shame what happened. It wans't fair." From what I've seen,
the major view of JZD, & the DMC-12 now adays is very positive. But
then again, I suppose that when you write a book such as the one were
discussing here, It's hard to know what's happening down in the
trenches, when you've isolated yourself in an ivory tower. 

As far as people such as David E. Davis, and Christina Ferrare are
concerned, they only wirte/say things about JZD to get noticed
themselves. Nothing more than to see their own names in print for the
benifit of their own egos. I honestly don't know much about Mr. Davis
here, but you can bet I'll find out now... And with Christina Ferrare,
I'm going to cut straight to the bone with her: She dumped her husband
only to boost her "acting" carrier. The only reason that she married
JZD was he was probably the only one around after Fletcher Jones died.
Now that her last gig on T.V. is off the air, and I've only heard 2
sparse mentionings of her 'new' book, I'd wager that the only thing
keeping her from leaving Tony Thomopolus is the $. From what I've seen
in past interviews, she all but ignores Zachary & Kathryn, and is a
VERY selfish person.

-Robert