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

[MichaelPacman@xxxx]

You make some very good points and I agree with some of your points. 
I have heard from people that it is a shame what happened to the company, 
etc., etc. However when DeLorean's children filed bankruptcy in Baltimore, I 
was fortunate enough to meet people who were involved in the DeLorean saga.
After sitting down with a number of US attorneys and reading information 
from the Justice Departments FOIPA documents... "where there is smoke there 
is fire."
In the higher financial corporate structures, professionals earning their 
MBA's during the DeLorean debacle have all researched and concluded that if 
and only if there was no evidence of fraud with the company, GPD (gold faucet 
scandal aside) there would have been support to continue the operation. When 
the allegation's of embezzlement and fraud start to circulate within the 
corporate world, for some reason why, businesses collapse. Hadad was smeared 
for raising concern about GPD, and the quality and safety of the cars in the 
stock prospectus. If he lied, or overlooked, he could have went to jail for 
falsifying a SEC official document. ALL brokerage houses have equity research 
departments that uncover any financial or legal "questionable areas." So you 
mean to tell me that the players on wall street were recommending DMC stock 
to go public? People were jumping at the chance to buy worthless stock in a 
"DeLorean Holdings Company." A shell corporation with no equity or assets? 
The principal shareholder in the new company would not be JZD but the 
DeLorean manufacturing Co, wholly owned by a Nevada registered company called 
Christina. JZD owned 100% of this company.
There would have been serious ramifications to all of those institutions 
involved if the stock went public. Have you read what the Justice dept. and 
the SEC concluded about Auther Anderson consulting and its shaky dealings 
with DMC? The company was banned from Europe for 15 years.
DeLorean went around saying that the Dealers had to commit to a purchase 
agreement. Dealers in small markets were asked to purchase 50 cars and in 
larger metropolitan markets up to 150 cars during the first two years of 
production. That is were the statement "we were sold out for two years" came 
from. This made the company look good on paper and sound impressive. There 
was an internal memo from DMC asking where the market could absorb 30k DMC 
per annum. It was overlooked and the car was compared to the Camero, 
Trans-am, Porsche, Corvette, etc., in terms of market penetration. I agree 
with your comment about the delay of the 84 corvette, and the lack of 
production year 83 corvette.
I love the DMC. However if the company was so successful and demand was so 
high, why were there no orders from the dealers? DMC begged dealers to order 
cars. Out of the remaining dealerships in early 1982 only one replied to say 
no thank you DMC. There were hundred of cars sitting at the Docks and the QAC 
which the liquidators purchased.
If you have an opportunity to read the book "Dream maker; the rise and fall 
of JZD" by all means read it. There is incredible detail in the book.